What’s Next for Heritage Financial Corp (HFWA) After Forming Bullish Wedge Up Chart Pattern?

September 17, 2017 - By Vivian Currie

Investors sentiment increased to 1.53 in 2016 Q4. Its up 0.16, from 1.37 in 2016Q3. It improved, as 5 investors sold Heritage Financial Corp shares while 38 reduced holdings. 20 funds opened positions while 46 raised stakes. 21.25 million shares or 0.93% more from 21.06 million shares in 2016Q3 were reported.
Martin & Company Tn stated it has 0.31% of its portfolio in Heritage Financial Corp (NASDAQ:HFWA). 970,636 are owned by Blackrock Fund Advsr. Goldman Sachs Group Incorporated has 0.01% invested in Heritage Financial Corp (NASDAQ:HFWA). Parametric Portfolio Assoc Ltd Liability Corp invested 0% of its portfolio in Heritage Financial Corp (NASDAQ:HFWA). Castine Capital Mngmt Ltd has invested 2.15% in Heritage Financial Corp (NASDAQ:HFWA). Mutual Of America Cap Mgmt Limited Liability Company invested in 143,862 shares or 0.07% of the stock. Menta Capital Lc accumulated 44,993 shares or 0.1% of the stock. Principal Fincl Grp Inc owns 16,327 shares. State Teachers Retirement Systems, New York-based fund reported 2,600 shares. Moreover, Rhumbline Advisers has 0% invested in Heritage Financial Corp (NASDAQ:HFWA). Moreover, Dimensional Fund Lp has 0.02% invested in Heritage Financial Corp (NASDAQ:HFWA) for 1.41 million shares. Northern Tru invested 0% in Heritage Financial Corp (NASDAQ:HFWA). Independent Consultants holds 7,455 shares. Product Ptnrs Lc reported 13,600 shares or 0.02% of all its holdings. Blackrock Advsrs Limited Liability Company invested in 19,709 shares.

Since March 17, 2017, it had 0 insider purchases, and 1 sale for $220,900 activity. $61,375 worth of Heritage Financial Corp (NASDAQ:HFWA) was sold by CRAWFORD MARK D on Friday, March 17. $220,900 worth of Heritage Financial Corp (NASDAQ:HFWA) was sold by VANCE BRIAN L on Tuesday, May 2.

The stock of Heritage Financial Corp (HFWA) formed an up wedge with $29.59 target or 9.00 % above today’s $27.15 share price. The 9 months wedge indicates low risk for the $812.61 million company. If the $29.59 price target is reached, the company will be worth $73.13 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.56% or $0.15 on September 15, reaching $27.15. About 238,149 shares traded or 64.55% up from the average. Heritage Financial Corp (NASDAQ:HFWA) has risen 35.92% since September 17, 2016 and is uptrending. It has outperformed by 19.22% the S&P500.

Wall Street await Heritage Financial Corp (NASDAQ:HFWA) to release earnings on October, 26. Analysts forecast EPS of $0.35, down exactly $0.02 or 5.41 % from 2014’s $0.37 EPS. The expected HFWA’s profit could reach $10.48M giving the stock 19.39 P/E in the case that $0.35 earnings per share is reported. After posting $0.39 EPS for the previous quarter, Heritage Financial Corp’s analysts now forecast -10.26 % negative EPS growth.

Heritage Financial Corp (NASDAQ:HFWA) Ratings Coverage

Among 3 analysts covering Heritage Financial (NASDAQ:HFWA), 0 have Buy rating, 0 Sell and 3 Hold. Therefore 0 are positive. Heritage Financial had 6 analyst reports since September 28, 2015 according to SRatingsIntel. The stock of Heritage Financial Corp (NASDAQ:HFWA) has “Hold” rating given on Monday, July 10 by Piper Jaffray. As per Monday, October 5, the company rating was downgraded by Raymond James. As per Monday, September 28, the company rating was initiated by Piper Jaffray. The stock of Heritage Financial Corp (NASDAQ:HFWA) has “Market Perform” rating given on Friday, October 23 by Keefe Bruyette & Woods. As per Monday, August 14, the company rating was maintained by Piper Jaffray. The company was maintained on Thursday, June 1 by Keefe Bruyette & Woods.

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