Market Runner: Could Heritage Financial Corp Go Down After Achieving 52-Week High?

Market Runner: Could Heritage Financial Corp Go Down After Achieving 52 Week High?

The stock of Heritage Financial Corp (NASDAQ:HFWA) hit a new 52-week high and has $27.78 target or 24.00% above today’s $22.40 share price. The 8 months bullish chart indicates low risk for the $690.72 million company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $27.78 price target is reached, the company will be worth $165.77 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 36,527 shares traded hands. Heritage Financial Corp (NASDAQ:HFWA) has risen 25.35% since April 19, 2016 and is uptrending. It has outperformed by 21.49% 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 Raymond James on Monday, October 5 to “Mkt Perform”. The company was downgraded on Friday, October 23 by Keefe Bruyette & Woods.

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

Insitutional Activity: The institutional sentiment decreased to 1.37 in 2016 Q2. Its down 0.01, from 1.38 in 2016Q1. The ratio dived, 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.
Swiss Comml Bank holds 47,668 shares or 0% of its portfolio. Sei Investments Co, a Pennsylvania-based fund reported 61,695 shares. Northern Tru holds 0% or 481,788 shares in its portfolio. Schwab Charles Mgmt Inc, a California-based fund reported 51,680 shares. Bnp Paribas Arbitrage holds 0% or 1,149 shares in its portfolio. Strs Ohio accumulated 0% or 23,100 shares. Wells Fargo And Mn accumulated 124,895 shares or 0% of the stock. Balyasny Asset Ltd Llc has 0% invested in the company for 31,775 shares. D E Shaw Company Incorporated holds 21,255 shares or 0% of its portfolio. Metropolitan Life Insur Ny has 25,294 shares for 0% of their US portfolio. The Pennsylvania-based Brandywine Inv Mngmt Ltd Liability Corp has invested 0% in Heritage Financial Corp (NASDAQ:HFWA). Ladenburg Thalmann Services has 0.01% invested in the company for 35,649 shares. Parametric Portfolio Associate Llc accumulated 0% or 14,240 shares. The Ontario – Canada-based State Bank Of Montreal Can has invested 0% in Heritage Financial Corp (NASDAQ:HFWA). Blackrock Inc holds 0% of its portfolio in Heritage Financial Corp (NASDAQ:HFWA) for 12,164 shares.

Insider Transactions: Since May 31, 2016, the stock had 1 insider purchase, and 6 insider sales for $480,799 net activity. CLEES JOHN A sold 2,000 shares worth $43,854. On Tuesday, May 31 Deuel Jeffrey J sold $243,346 worth of the stock or 13,334 shares. $26,616 worth of shares were sold by McDonald Bryan on Monday, November 14. Another trade for 175 shares valued at $3,047 was made by Altom Rhoda L on Tuesday, June 14. 1,000 shares were sold by Spurling David A, worth $18,467 on Friday, September 2.

More news for Heritage Financial Corp (NASDAQ:HFWA) were recently published by: Prnewswire.com, which released: “Heritage Financial Announces Third Quarter 2016 Results And Declares Regular …” on October 27, 2016. Prnewswire.com‘s article titled: “Heritage Bank Appoints Thomas Henning as Executive Vice President, Chief Risk …” and published on May 02, 2016 is yet another important article.

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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