WashingtonFirst Bankshares Inc (WFBI) Stock Formed Descending Triangle Pattern. What To Expect?

September 17, 2017 - By Louis Casey

Investors sentiment increased to 3.33 in 2016 Q4. Its up 2.14, from 1.19 in 2016Q3. It increased, 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.
Blackrock Fund Advsr holds 290,330 shares or 0% of its portfolio. Blackrock invested in 0% or 339 shares. Fuller And Thaler Asset Mgmt has invested 0% in WashingtonFirst Bankshares Inc (NASDAQ:WFBI). Mendon Capital Advisors Corp reported 100,957 shares. Metropolitan Life Insurance holds 6,869 shares or 0% of its portfolio. Toth Financial Advisory Corp has invested 0.21% in WashingtonFirst Bankshares Inc (NASDAQ:WFBI). Valentine Ventures Limited invested in 31,396 shares or 1.07% of the stock. Nationwide Fund Advsr invested 0% in WashingtonFirst Bankshares Inc (NASDAQ:WFBI). Basswood Mngmt Lc stated it has 492,584 shares or 0.63% of all its holdings. Citigroup Inc holds 9,523 shares. Wells Fargo & Mn accumulated 14,485 shares. Brown Advisory holds 0% of its portfolio in WashingtonFirst Bankshares Inc (NASDAQ:WFBI) for 26,024 shares. 62,495 were accumulated by Alliancebernstein L P. Banc Funds Limited holds 0.29% of its portfolio in WashingtonFirst Bankshares Inc (NASDAQ:WFBI) for 234,796 shares. Castle Creek Capital Prtn Iv L P has 10,506 shares for 0.29% of their portfolio.

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.

Wall Street await WashingtonFirst Bankshares Inc (NASDAQ:WFBI) to release earnings on October, 19. Analysts forecast earnings per share of $0.42, up exactly $0.05 or 13.51 % from 2014’s $0.37 EPS. The expected WFBI’s profit could reach $5.49 million giving the stock 20.10 P/E in the case that $0.42 earnings per share is reported. After posting $0.42 EPS for the previous quarter, WashingtonFirst Bankshares Inc’s analysts now forecast 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. As per Monday, October 24, the company rating was downgraded by Keefe Bruyette & Woods. Keefe Bruyette & Woods maintained it with “Hold” rating and $3800 target in Friday, July 28 report. The rating was initiated by Raymond James with “Outperform” on Monday, December 14. The stock of WashingtonFirst Bankshares Inc (NASDAQ:WFBI) has “Mkt Perform” rating given on Monday, October 24 by Raymond James.

More notable recent WashingtonFirst Bankshares Inc (NASDAQ:WFBI) news were published by: Investorplace.com which released: “Finish Line Inc (FINL) and WashingtonFirst Bankshares Inc (WFBI) Lead 9 …” on May 26, 2017, also Globenewswire.com with their article: “Sandy Spring Bancorp Acquisition of WashingtonFirst Bankshares to Create …” published on May 16, 2017, Businesswire.com published: “WashingtonFirst Bankshares, Inc. Announces Name Change of 1” on February 08, 2016. More interesting news about WashingtonFirst Bankshares Inc (NASDAQ:WFBI) were released by: Businesswire.com and their article: “WashingtonFirst Bankshares, Inc. Declares 16” published on August 22, 2017 as well as Seekingalpha.com‘s news article titled: “WFBI: A Young Small Bank With Potential” with publication date: December 07, 2015.

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