Notable Price Action: Is Buying Charter Financial Corp Here a Winning Strategy?

Notable Price Action: Is Buying Charter Financial Corp Here a Winning Strategy?

The stock of Charter Financial Corp (NASDAQ:CHFN) hit a new 52-week high and has $15.34 target or 6.00% above today’s $14.47 share price. The 9 months bullish chart indicates low risk for the $219.00 million company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $15.34 price target is reached, the company will be worth $13.14M 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. The stock decreased 0.96% or $0.14 during the last trading session, hitting $14.47. About 33,506 shares traded hands or 8.00% up from the average. Charter Financial Corp (NASDAQ:CHFN) has risen 9.03% since April 22, 2016 and is uptrending. It has outperformed by 3.62% the S&P500.

Analysts await Charter Financial Corp (NASDAQ:CHFN) to report earnings on January, 26.

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 0.21% above today’s ($14.47) stock price. Charter Financial Corp has been the topic of 3 analyst reports since September 21, 2015 according to StockzIntelligence Inc. The rating was downgraded by Keefe Bruyette & Woods to “Mkt Perform” on Monday, November 7. The stock of Charter Financial Corp (NASDAQ:CHFN) earned “Buy” rating by Zacks on Monday, September 21.

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 increased to 1.12 in 2016 Q2. Its up 0.34, from 0.78 in 2016Q1. The ratio increased, 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.
Northern Corp accumulated 150,563 shares or 0% of the stock. Millennium Mngmt Limited Com, a New York-based fund reported 21,654 shares. Sei has invested 0% of its portfolio in Charter Financial Corp (NASDAQ:CHFN). Los Angeles Capital & Equity Research has invested 0% of its portfolio in Charter Financial Corp (NASDAQ:CHFN). Deutsche Bancorp Ag accumulated 0% or 9,083 shares. Mutual Of America Cap Management Llc owns 220,562 shares or 0.06% of their US portfolio. The Pennsylvania-based Brandywine Glob Inv Mngmt Limited Liability Corp has invested 0.01% in Charter Financial Corp (NASDAQ:CHFN). New York State Common Retirement Fund, a New York-based fund reported 15,100 shares. Jpmorgan Chase &, a New York-based fund reported 614,300 shares. Dalton Greiner Hartman Maher And Com, a New York-based fund reported 108,633 shares. Analytic Ltd Liability Co accumulated 37,389 shares or 0.01% of the stock. Rhumbline Advisers has 0% invested in the company for 23,898 shares. Goldman Sachs Group accumulated 33,298 shares or 0% of the stock. Geode Cap Mgmt Lc accumulated 88,589 shares or 0% of the stock. Highlander Limited Liability Com holds 0.04% of its portfolio in Charter Financial Corp (NASDAQ:CHFN) for 3,542 shares.

More recent Charter Financial Corp (NASDAQ:CHFN) news were published by: Zacks.com which released: “Why Charter Financial Corp (CHFN) Stock Might be a Great Pick” on December 23, 2015. Also Bizjournals.com published the news titled: “Charter Financial buys Community Bank of the South” on December 07, 2015. Globenewswire.com‘s news article titled: “Charter Financial Completes Merger With CBS Financial Corporation” with publication date: April 15, 2016 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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