Market Runner: Could Heritage Financial Corp See a Reversal After Breaking Its 52-Week High?

Market Runner: Could Heritage Financial Corp See a Reversal After Breaking Its 52 Week High?

The stock of Heritage Financial Corp (NASDAQ:HFWA) hit a new 52-week high and has $25.78 target or 27.00% above today’s $20.30 share price. The 6 months bullish chart indicates low risk for the $638.16M company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $25.78 price target is reached, the company will be worth $172.30M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 275,555 shares traded hands or 237.28% up from the average. Heritage Financial Corp (NASDAQ:HFWA) has risen 18.22% since April 11, 2016 and is uptrending. It has outperformed by 12.07% the S&P500.

Heritage Financial Corp (NASDAQ:HFWA) Ratings Coverage

Out of 3 analysts covering Heritage Financial (NASDAQ:HFWA), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. Heritage Financial has been the topic of 3 analyst reports since September 28, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Monday, September 28 by Piper Jaffray. The rating was downgraded by Keefe Bruyette & Woods to “Market Perform” on Friday, October 23. The firm has “Mkt Perform” rating given on Monday, October 5 by Raymond James.

According to Zacks Investment Research, “Heritage Financial Corporation, Inc. is a bank holding company.”

Insitutional Activity: The institutional sentiment increased to 1.38 in 2016 Q2. Its up 0.10, from 1.28 in 2016Q1. The ratio increased, as 6 funds sold all Heritage Financial Corp shares owned while 34 reduced positions. 15 funds bought stakes while 40 increased positions. They now own 21.04 million shares or 0.20% more from 21.00 million shares in 2016Q1.
Panagora Asset holds 0% of its portfolio in Heritage Financial Corp (NASDAQ:HFWA) for 4,203 shares. Susquehanna International Group Ltd Liability Partnership holds 16,711 shares or 0% of its portfolio. Mutual Of America Cap Management Limited Com last reported 144,578 shares in the company. Brandywine Inv Mgmt Ltd Llc owns 10,727 shares or 0% of their US portfolio. Penn Capital Mgmt owns 427,362 shares or 0.43% of their US portfolio. Vantage Inv Advisors Limited Liability owns 2,125 shares or 0.02% of their US portfolio. Basswood Capital Mgmt Limited holds 0.05% or 45,717 shares in its portfolio. New York State Teachers Retirement Systems holds 0% or 2,500 shares in its portfolio. Pinnacle Limited has invested 0.01% of its portfolio in Heritage Financial Corp (NASDAQ:HFWA). Loomis Sayles & Co Limited Partnership owns 250 shares or 0% of their US portfolio. Sei Invests owns 61,695 shares or 0.01% of their US portfolio. The Connecticut-based Cardinal Management Ltd Llc Ct has invested 0.08% in Heritage Financial Corp (NASDAQ:HFWA). Teachers Advisors has 0% invested in the company for 69,291 shares. Shell Asset Mngmt holds 0.03% of its portfolio in Heritage Financial Corp (NASDAQ:HFWA) for 70,819 shares. Deutsche Retail Bank Ag accumulated 32,451 shares or 0% of the stock.

Insider Transactions: Since May 31, 2016, the stock had 1 insider purchase, and 4 selling transactions for $410,329 net activity. McDonald Bryan sold $97,290 worth of stock. Another trade for 3,000 shares valued at $54,273 was sold by CLEES JOHN A. $18,467 worth of Heritage Financial Corp (NASDAQ:HFWA) shares were sold by Spurling David A. $243,346 worth of Heritage Financial Corp (NASDAQ:HFWA) was sold by Deuel Jeffrey J on Tuesday, May 31. Altom Rhoda L bought 175 shares worth $3,047.

Another recent and important Heritage Financial Corp (NASDAQ:HFWA) news was published by Prnewswire.com which published an article titled: “Heritage Financial Announces Third Quarter 2016 Results And Declares Regular …” on October 27, 2016.

HFWA Company Profile

Heritage Financial Corporation, incorporated on August 28, 1997, is a bank holding company. The Firm is engaged in the business of planning, directing and coordinating the business activities of its bank subsidiary, Heritage Bank (the Bank). The Bank’s business consists of lending and deposit relationships with small businesses and their owners in its market areas and attracting deposits from the general public. The Bank also makes real estate construction loans, land development loans and consumer loans, and originates first mortgage loans on residential properties primarily located in its market area.

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