Can Heritage Financial Corp (HFWA)’s Tomorrow be Different? The Stock Formed a Bullish Wedge Up Chart Pattern

September 17, 2017 - By Henry Gaston

Investors sentiment increased to 1.53 in Q4 2016. Its up 0.16, from 1.37 in 2016Q3. It increased, 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.
Nationwide Fund Advisors has invested 0% in Heritage Financial Corp (NASDAQ:HFWA). Metropolitan Life Insurance Ny reported 0% of its portfolio in Heritage Financial Corp (NASDAQ:HFWA). Keybank Association Oh, a Ohio-based fund reported 37,497 shares. Creative Planning accumulated 10 shares or 0% of the stock. Prelude Mgmt Ltd Liability Co owns 500 shares. Rice Hall James & Limited Liability Co accumulated 0.12% or 92,935 shares. Barclays Public Ltd Limited Liability Company invested in 0% or 1,074 shares. 770 were reported by Tower Research Ltd Llc (Trc). Blackrock Advisors Ltd Liability reported 0% stake. D E Shaw Co Inc accumulated 82,487 shares or 0% of the stock. Loomis Sayles & L P holds 0% or 115 shares. Vantage Inv Ltd Liability holds 2,125 shares or 0.02% of its portfolio. Palouse Cap Mgmt accumulated 12,811 shares or 0.14% of the stock. Heartland Inc accumulated 0.68% or 478,000 shares. California Employees Retirement System holds 0% of its portfolio in Heritage Financial Corp (NASDAQ:HFWA) for 73,600 shares.

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

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 earnings per share 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. Keefe Bruyette & Woods downgraded the shares of HFWA in report on Friday, October 23 to “Market Perform” rating. On Monday, October 5 the stock rating was downgraded by Raymond James to “Mkt Perform”. Piper Jaffray maintained the shares of HFWA in report on Monday, August 14 with “Hold” rating. Piper Jaffray initiated the stock with “Neutral” rating in Monday, September 28 report. The stock of Heritage Financial Corp (NASDAQ:HFWA) earned “Hold” rating by Piper Jaffray on Monday, July 10. The rating was maintained by Keefe Bruyette & Woods with “Hold” on Thursday, June 1.

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