Strength Seen in Hanmi Financial (HAFC): Can Its 6.3% Jump Turn into More Strength?

Shares of Hanmi Financial rallied for the seventh straight trading session. Encouraging inflation numbers and cooling employment data have increased the chances of the Federal Reserve cutting the interest rates as early as during the September FOMC meeting. As the rates come down, banks' funding costs will stabilize or move lower eventually. Also, demand for loans is expected to improve. Hence, the investors turned bullish on banking sector stocks, driving HAFC higher. While earnings and revenue growth expe ...