Could Heritage Financial Corp (HFWA) Increase Even More? The Stock Formed Wedge Up Chart Pattern

September 17, 2017 - By Richard Conner

Investors sentiment increased to 1.53 in Q4 2016. Its up 0.16, from 1.37 in 2016Q3. It is positive, 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.
Morgan Stanley holds 0% or 342,525 shares in its portfolio. Bnp Paribas Arbitrage reported 0% stake. Mufg Americas Hldgs Corp stated it has 0% in Heritage Financial Corp (NASDAQ:HFWA). Victory Cap Mgmt Inc holds 0% in Heritage Financial Corp (NASDAQ:HFWA) or 75,810 shares. Creative Planning stated it has 10 shares. Moreover, Kennedy Mngmt has 0.15% invested in Heritage Financial Corp (NASDAQ:HFWA) for 328,915 shares. Great West Life Assurance Can stated it has 0% in Heritage Financial Corp (NASDAQ:HFWA). Blackrock Institutional Trust Company Na reported 946,261 shares. Connor Clark & Lunn Investment Management Limited holds 0.01% or 45,860 shares. Martin & Incorporated Tn has 37,628 shares for 0.31% of their portfolio. Credit Suisse Ag stated it has 37,990 shares. Menta Cap Ltd Llc holds 0.1% of its portfolio in Heritage Financial Corp (NASDAQ:HFWA) for 44,993 shares. Citigroup has invested 0% in Heritage Financial Corp (NASDAQ:HFWA). Bessemer Grp, a New Jersey-based fund reported 47,600 shares. Penn Cap Company holds 428,629 shares.

Since March 17, 2017, it had 0 insider purchases, and 1 sale for $220,900 activity. Another trade for 8,562 shares valued at $220,900 was made by VANCE BRIAN L on Tuesday, May 2. CRAWFORD MARK D sold $61,375 worth of stock or 2,500 shares.

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.

Analysts await Heritage Financial Corp (NASDAQ:HFWA) to report earnings on October, 26. They expect $0.35 EPS, down 5.41 % or $0.02 from last year’s $0.37 per share. HFWA’s profit will be $10.48 million for 19.39 P/E if the $0.35 EPS becomes a reality. After $0.39 actual EPS reported by Heritage Financial Corp for the previous quarter, Wall Street now forecasts -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 has “Market Perform” rating by Keefe Bruyette & Woods on Friday, October 23. The stock has “Hold” rating by Keefe Bruyette & Woods on Thursday, June 1. The company was downgraded on Monday, October 5 by Raymond James. As per Monday, September 28, the company rating was initiated by Piper Jaffray. Piper Jaffray maintained the shares of HFWA in report on Monday, August 14 with “Hold” rating. On Monday, July 10 the stock rating was maintained by Piper Jaffray with “Hold”.

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