Price Action Report: Will Charter Financial Corp Run Out of Steam Soon?

Price Action Report: Will Charter Financial Corp Run Out of Steam Soon?

The stock of Charter Financial Corp (NASDAQ:CHFN) hit a new 52-week high and has $38.89 target or 177.00% above today’s $14.04 share price. The 5 months bullish chart indicates low risk for the $212.24 million company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $38.89 price target is reached, the company will be worth $375.66 million 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 27,844 shares traded hands. Charter Financial Corp (NASDAQ:CHFN) has risen 3.99% since April 15, 2016 and is uptrending. It has underperformed by 0.63% the S&P500.

Charter Financial Corp (NASDAQ:CHFN) Ratings Coverage

Out of 2 analysts covering Charter Financial Corp (NASDAQ:CHFN), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. $15 is the highest target while $14 is the lowest. The $14.50 average target is 3.28% above today’s ($14.04) stock price. Charter Financial Corp has been the topic of 3 analyst reports since September 21, 2015 according to StockzIntelligence Inc. Zacks upgraded the shares of CHFN in a report on Monday, September 21 to “Buy” rating. The rating was downgraded by Keefe Bruyette & Woods to “Mkt Perform” on Monday, November 7.

According to Zacks Investment Research, “CHARTER Financial Corporation is a savings and loan holding company and the parent company of CharterBank, a full-service community bank and a federal savings institution.”

Insitutional Activity: The institutional sentiment decreased to 0.78 in 2016 Q2. Its down 0.22, from 1 in 2016Q1. The ratio turned negative, as 4 funds sold all Charter Financial Corp shares owned while 36 reduced positions. 10 funds bought stakes while 21 increased positions. They now own 8.98 million shares or 3.06% less from 9.27 million shares in 2016Q1.
Moreover, California State Teachers Retirement Systems has 0% invested in Charter Financial Corp (NASDAQ:CHFN) for 28,556 shares. Analytic Invsts Ltd Liability Co holds 37,389 shares or 0.01% of its portfolio. Creative Planning last reported 207 shares in the company. Dalton Greiner Hartman Maher has invested 0.09% of its portfolio in Charter Financial Corp (NASDAQ:CHFN). Blackrock holds 0% of its portfolio in Charter Financial Corp (NASDAQ:CHFN) for 2,115 shares. Manufacturers Life Insurance Communications The has 0% invested in the company for 13,373 shares. Corbyn Invest Mgmt Inc Md reported 19,190 shares or 0.08% of all its holdings. Moreover, Bancorp Of America De has 0% invested in Charter Financial Corp (NASDAQ:CHFN) for 5,097 shares. Walleye Trading Lc has 1,000 shares for 0% of their US portfolio. The Pennsylvania-based Vanguard Grp has invested 0% in Charter Financial Corp (NASDAQ:CHFN). Banc Funds Co Ltd Limited Liability Company has 0.32% invested in the company for 411,395 shares. Voya Investment Mngmt Ltd Limited Liability Company has invested 0% of its portfolio in Charter Financial Corp (NASDAQ:CHFN). Martingale Asset L P, a Massachusetts-based fund reported 29,914 shares. Bancorp Of Mellon last reported 120,767 shares in the company. Deprince Race And Zollo Inc last reported 198,174 shares in the company.

More recent Charter Financial Corp (NASDAQ:CHFN) news were published by: Streetinsider.com which released: “Form 5 CHARTER FINANCIAL CORP For: Sep 30 Filed by: DARDEN JANE W” on November 14, 2016. Also Zacks.com published the news titled: “Why Charter Financial Corp (CHFN) Stock Might be a Great Pick” on December 23, 2015. Bizjournals.com‘s news article titled: “Charter Financial buys Community Bank of the South” with publication date: December 07, 2015 was also an interesting one.

CHFN Company Profile

Charter Financial Corporation, incorporated on February 16, 1993, is the savings and loan holding firm for CharterBank (the Bank). The Bank is a federally-chartered savings bank. The Bank’s principal business consists of attracting retail deposits from the general public and investing those deposits, together with funds generated from operations, in commercial real estate loans, one- to four-family residential mortgage loans, construction loans and investment securities, commercial business loans, home equity loans and lines of credit, and other consumer loans. The Bank offers a range of community banking services to its customers, including online banking and bill payment services, mobile banking, online cash management, safe deposit box rentals, debit card, and automated teller machine (ATM) card services and the availability of a network of ATMs. In addition to its approximately 10 branch offices in west-central Georgia, east-central Alabama and the Florida Gulf Coast, it operates a cashless branch office in Norcross, Georgia.

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