Hanmi Financial Corporation (HAFC) Forms Descending Triangle Chart Pattern; Strong Momentum for Buyers Coming

April 23, 2018 - By Migdalia James

Investors sentiment increased to 1.04 in Q4 2017. Its up 0.16, from 0.88 in 2017Q3. It increased, as 6 investors sold Hanmi Financial Corporation shares while 51 reduced holdings. 17 funds opened positions while 42 raised stakes. 28.39 million shares or 0.61% less from 28.57 million shares in 2017Q3 were reported.
Piedmont Advisors Limited Liability Corp has 0% invested in Hanmi Financial Corporation (NASDAQ:HAFC). King Luther Capital Mgmt holds 108,605 shares. State Street Corp holds 0% or 1.07 million shares. Glenmede Na stated it has 269 shares or 0% of all its holdings. Congress Asset Mgmt Ma reported 0.04% of its portfolio in Hanmi Financial Corporation (NASDAQ:HAFC). New York State Teachers Retirement holds 0% in Hanmi Financial Corporation (NASDAQ:HAFC) or 16,710 shares. Martingale Asset Lp reported 14,710 shares. Tci Wealth Advsrs has invested 0% in Hanmi Financial Corporation (NASDAQ:HAFC). Manufacturers Life Ins The stated it has 23,880 shares or 0% of all its holdings. Investment Counselors Of Maryland Ltd Liability Company reported 614,706 shares. 79,121 were accumulated by Invesco Limited. Clarivest Asset Mgmt Ltd has 0% invested in Hanmi Financial Corporation (NASDAQ:HAFC) for 4,018 shares. Parallax Volatility Advisers Limited Partnership holds 4,830 shares. First Wilshire stated it has 0.08% in Hanmi Financial Corporation (NASDAQ:HAFC). Public Employees Retirement Of Ohio invested 0.01% of its portfolio in Hanmi Financial Corporation (NASDAQ:HAFC).

Since January 26, 2018, it had 1 buying transaction, and 0 insider sales for $94,682 activity.

The stock of Hanmi Financial Corporation (HAFC) formed a descending triangle with $32.90 target or 7.00 % above today’s $30.75 share price. The 8 months triangle pattern indicates low risk for the $998.39M company. If the $32.90 price target is reached, the company will be worth $69.89M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock decreased 0.16% or $0.05 during the last trading session, reaching $30.75. About 7,683 shares traded. Hanmi Financial Corporation (NASDAQ:HAFC) has risen 2.20% since April 23, 2017 and is uptrending. It has underperformed by 9.35% the S&P500.

Analysts await Hanmi Financial Corporation (NASDAQ:HAFC) to report earnings on April, 24 after the close. They expect $0.54 earnings per share, up 25.58 % or $0.11 from last year’s $0.43 per share. HAFC’s profit will be $17.53M for 14.24 P/E if the $0.54 EPS becomes a reality. After $0.48 actual earnings per share reported by Hanmi Financial Corporation for the previous quarter, Wall Street now forecasts 12.50 % EPS growth.

Hanmi Financial Corporation (NASDAQ:HAFC) Institutional Positions Chart

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