The stock of Coastway Bancorp Inc (NASDAQ:CWAY) hit a new 52-week high and has $15.02 target or 5.00% above today’s $14.30 share price. The 8 months bullish chart indicates low risk for the $63.87 million company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $15.02 price target is reached, the company will be worth $3.19 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 15,183 shares traded hands or 117.52% up from the average. Coastway Bancorp Inc (NASDAQ:CWAY) has risen 14.75% since April 28, 2016 and is uptrending. It has outperformed by 8.83% the S&P500.
According to Zacks Investment Research, “Coastway Bancorp, Inc. is a chartered savings bank holding company of Coastway Community Bank. The company offers banking services which include personal banking, business banking and mortgage lending. Its services consist of checking accounts, savings accounts, loans, online services, mortgage products and reverse mortgage. Coastway Bancorp, Inc. is headquartered in Cranston, Rhode Island.”
Insitutional Activity: The institutional sentiment increased to 0.75 in 2016 Q2. Its up 0.04, from 0.71 in 2016Q1. The ratio improved, as 3 funds sold all Coastway Bancorp Inc shares owned while 4 reduced positions. 2 funds bought stakes while 3 increased positions. They now own 1.45 million shares or 17.33% less from 1.76 million shares in 2016Q1.
Pl Advsrs Lc accumulated 0.36% or 85,137 shares. Blackrock Fund last reported 0% of its portfolio in the stock. Bridgeway Cap Management accumulated 10,213 shares or 0% of the stock. Alliancebernstein Limited Partnership last reported 198,848 shares in the company. Manufacturers Life Ins The holds 0% of its portfolio in Coastway Bancorp Inc (NASDAQ:CWAY) for 139,155 shares. Fj Cap Mngmt Ltd Limited Liability Company, a Virginia-based fund reported 70,000 shares. Hutchin Hill Cap Limited Partnership accumulated 0.05% or 127,600 shares. Maltese Cap Ltd Liability Corp accumulated 458,099 shares or 0.71% of the stock. State Bank Of America Corp De owns 1,277 shares or 0% of their US portfolio. Raffles Associate Lp last reported 2.24% of its portfolio in the stock. Mufg Americas Holdings Corporation holds 0% of its portfolio in Coastway Bancorp Inc (NASDAQ:CWAY) for 690 shares. Morgan Stanley holds 121 shares or 0% of its portfolio. Moreover, Endurance Wealth Mgmt has 0.01% invested in Coastway Bancorp Inc (NASDAQ:CWAY) for 2,500 shares. Vanguard Grp Incorporated owns 80,053 shares or 0% of their US portfolio. Seidman Lawrence B accumulated 58,000 shares or 0.49% of the stock.
Insider Transactions: Since June 13, 2016, the stock had 6 insider purchases, and 0 sales for $70,435 net activity. 740 shares with value of $9,931 were bought by Paul Debra M. on Wednesday, November 9. On Monday, June 13 the insider Chace Malcolm G Jr bought $12,588. Shares for $8,049 were bought by Lopresti Angelo P on Thursday, September 15. On Monday, November 7 DiSanto David P. bought $24,402 worth of the stock or 1,820 shares. Shares for $2,025 were bought by Kydd Phillip on Monday, September 12.
Another recent and important Coastway Bancorp Inc (NASDAQ:CWAY) news was published by Providencejournal.com which published an article titled: “Cranston’s Coastway Bancorp to become a publicly traded stock company” on January 15, 2014.
CWAY Company Profile
Coastway Bancorp, Inc., incorporated on August 20, 2013, is a bank holding firm for Coastway Community Bank (the Bank), which is a chartered stock savings bank. The Company’s subsidiary, the Bank, provides a range of financial services to individuals, families and businesses throughout Rhode Island from over nine banking offices located in Providence County and Kent County, Rhode Island. The Bank’s principal business consists of retail deposits from the general public in its market area and investing those deposits, together with funds generated from activities and borrowings, in one- to four-family residential real estate loans, other loans, home equity loans and lines of credit, commercial real estate loans, the United States small business administration (SBA) loans, commercial business loans, commercial construction loans and consumer loans.
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