Price Action Don’t Lie: Is Buying 52-Week Stock Like California First National Bancorp a Winning Strategy?

Price Action Don't Lie: Is Buying 52 Week Stock Like California First National Bancorp a Winning Strategy?

The stock of California First National Bancorp (NASDAQ:CFNB) hit a new 52-week high and has $17.01 target or 5.00% above today’s $16.20 share price. The 7 months bullish chart indicates low risk for the $167.59M company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $17.01 price target is reached, the company will be worth $8.38 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 15,722 shares traded hands or 649.38% up from the average. California First National Bancorp (NASDAQ:CFNB) has risen 7.48% since April 25, 2016 and is uptrending. It has outperformed by 1.47% the S&P500.

According to Zacks Investment Research, “California First National Bank is a FDIC-insured national bank that gathers deposits using telephone, the Internet and direct mail from a centralized location and will lease capital assets to businesses and organizations and provide business loans to fund the purchase of assets leased by third parties.”

Insitutional Activity: The institutional sentiment decreased to 1.1 in 2016 Q2. Its down 1.90, from 3 in 2016Q1. The ratio is negative, as 3 funds sold all California First National Bancorp shares owned while 3 reduced positions. 9 funds bought stakes while 9 increased positions. They now own 899,174 shares or 7.89% more from 833,434 shares in 2016Q1.
Moreover, Ladenburg Thalmann Service has 0% invested in California First National Bancorp (NASDAQ:CFNB) for 2,325 shares. Bridgeway Cap Mgmt holds 0.02% or 86,857 shares in its portfolio. Teachers holds 2,510 shares or 0% of its portfolio. Tower Research Cap Ltd Liability Com (Trc), a New York-based fund reported 525 shares. Earnest Partners Ltd Liability has invested 0% of its portfolio in California First National Bancorp (NASDAQ:CFNB). Strs Ohio owns 1,400 shares or 0% of their US portfolio. Bnp Paribas Arbitrage Sa has 93 shares for 0% of their US portfolio. Acadian Asset Mngmt Llc accumulated 19 shares or 0% of the stock. The California-based California State Teachers Retirement Sys has invested 0% in California First National Bancorp (NASDAQ:CFNB). Dimensional Fund Lp holds 0% of its portfolio in California First National Bancorp (NASDAQ:CFNB) for 521,123 shares. The Delaware-based Blackrock Advsrs Ltd Com has invested 0% in California First National Bancorp (NASDAQ:CFNB). Wells Fargo & Mn reported 1 shares or 0% of all its holdings. Financial Bank Of America De accumulated 0% or 1,304 shares. Moreover, Us Bancshares De has 0% invested in California First National Bancorp (NASDAQ:CFNB) for 400 shares. The Ontario – Canada-based Royal Bankshares Of Canada has invested 0% in California First National Bancorp (NASDAQ:CFNB).

More news for California First National Bancorp (NASDAQ:CFNB) were recently published by: Nasdaq.com, which released: “California First National Bancorp (CFNB) Ex-Dividend Date Scheduled for …” on November 28, 2016. Gurufocus.com‘s article titled: “California First National Bancorp Hikes Dividend” and published on November 21, 2016 is yet another important article.

CFNB Company Profile

California First National Bancorp, incorporated on April 27, 2001, is a bank holding firm of California First National Bank (CalFirst Bank or the Bank) and leasing subsidiary, California First Leasing Corp (CalFirst Leasing). The primary business of the Company is secured financing provided through leasing and financing capital assets, commercial loans acquired through participation in the syndicated commercial loan market, by providing non-recourse loans to third parties secured by leases and equipment, and direct commercial loans. The Company’s divisions include CalFirst Bank and CalFirst Leasing. CalFirst Bank gathers deposits through posting rates on the Internet and conducts all banking and other activities from one central location.

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