Could WashingtonFirst Bankshares Inc (WFBI) See a Reversal After Having Formed Several Months Descending Triangle

September 17, 2017 - By Kurt Siggers

Investors sentiment increased to 3.33 in 2016 Q4. Its up 2.14, from 1.19 in 2016Q3. It improved, as 4 investors sold WashingtonFirst Bankshares Inc shares while 11 reduced holdings. 12 funds opened positions while 38 raised stakes. 10.70 million shares or 114.73% more from 4.98 million shares in 2016Q3 were reported.
Toth Fincl Advisory Corp reported 25,585 shares. Alliancebernstein Limited Partnership accumulated 0% or 62,495 shares. Mendon Cap holds 0.3% or 100,957 shares in its portfolio. Bnp Paribas Arbitrage Sa holds 0% or 448 shares. Manufacturers Life Ins The accumulated 6,873 shares. Citigroup reported 9,523 shares. 5,954 are owned by Nationwide Fund. 234,796 are held by Banc Funds Ltd Liability Corp. Emerald Mutual Fund Advisers Trust, Pennsylvania-based fund reported 197,059 shares. Penn Cap Management Incorporated has invested 0.14% in WashingtonFirst Bankshares Inc (NASDAQ:WFBI). Valentine Ventures Limited Liability reported 31,396 shares. First Advisors Lp stated it has 9,828 shares. Royal Fincl Bank Of Canada holds 0% or 504 shares in its portfolio. 26,560 are owned by First Manhattan. Legal General Gru Public Ltd reported 1,262 shares.

The stock of WashingtonFirst Bankshares Inc (WFBI) formed a descending triangle with $36.12 target or 7.00 % above today’s $33.76 share price. The 6 months triangle pattern indicates low risk for the $441.63M company. If the $36.12 price target is reached, the company will be worth $30.91 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 1.38% or $0.46 on September 15, reaching $33.76. About 71,382 shares traded or 231.35% up from the average. WashingtonFirst Bankshares Inc (NASDAQ:WFBI) has risen 61.27% since September 17, 2016 and is uptrending. It has outperformed by 44.57% the S&P500.

Analysts await WashingtonFirst Bankshares Inc (NASDAQ:WFBI) to report earnings on October, 19. They expect $0.42 earnings per share, up 13.51 % or $0.05 from last year’s $0.37 per share. WFBI’s profit will be $5.49M for 20.10 P/E if the $0.42 EPS becomes a reality. After $0.42 actual earnings per share reported by WashingtonFirst Bankshares Inc for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

WashingtonFirst Bankshares Inc (NASDAQ:WFBI) Ratings Coverage

Among 2 analysts covering WashingtonFirst Bankshares (NASDAQ:WFBI), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. WashingtonFirst Bankshares had 4 analyst reports since December 14, 2015 according to SRatingsIntel. The firm has “Outperform” rating given on Monday, December 14 by Raymond James. The stock of WashingtonFirst Bankshares Inc (NASDAQ:WFBI) has “Hold” rating given on Friday, July 28 by Keefe Bruyette & Woods. The firm has “Mkt Perform” rating given on Monday, October 24 by Raymond James. On Monday, October 24 the stock rating was downgraded by Keefe Bruyette & Woods to “Mkt Perform”.

More notable recent WashingtonFirst Bankshares Inc (NASDAQ:WFBI) news were published by: which released: “WFBI: A Young Small Bank With Potential” on December 07, 2015, also with their article: “WashingtonFirst Bankshares, Inc. Declares 16” published on August 22, 2017, published: “WashingtonFirst Bankshares, Inc. to Acquire 1” on May 14, 2015. More interesting news about WashingtonFirst Bankshares Inc (NASDAQ:WFBI) were released by: and their article: “Finish Line Inc (FINL) and WashingtonFirst Bankshares Inc (WFBI) Lead 9 …” published on May 26, 2017 as well as‘s news article titled: “Sandy Spring Bancorp Acquisition of WashingtonFirst Bankshares to Create …” with publication date: May 16, 2017.

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