It Seems WashingtonFirst Bankshares Inc (WFBI) Will Go Up. Formed A Few Months Bullish Descending Triangle

September 17, 2017 - By Peter Erickson

Investors sentiment increased to 3.33 in Q4 2016. 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.
Wellington Group Incorporated Limited Liability Partnership has invested 0% of its portfolio in WashingtonFirst Bankshares Inc (NASDAQ:WFBI). Evermay Wealth Limited Co holds 0.62% or 43,715 shares. Voya Mgmt Ltd Liability Corp owns 7,356 shares or 0% of their US portfolio. State Street Corp, Massachusetts-based fund reported 129,245 shares. Vanguard Group has 259,711 shares for 0% of their portfolio. State Bank Of America De owns 17,228 shares for 0% of their portfolio. Royal Bank Of Canada invested in 0% or 504 shares. Creative Planning holds 87,063 shares. The New York-based Endicott Mngmt has invested 11.18% in WashingtonFirst Bankshares Inc (NASDAQ:WFBI). Bnp Paribas Arbitrage invested 0% of its portfolio in WashingtonFirst Bankshares Inc (NASDAQ:WFBI). Blackrock Fund Advsrs, California-based fund reported 290,330 shares. Jpmorgan Chase & has invested 0% in WashingtonFirst Bankshares Inc (NASDAQ:WFBI). Spark Management Llc holds 8,610 shares or 0.02% of its portfolio. Alliancebernstein L P reported 0% stake. Castle Creek Capital Partners Iv Ltd Partnership reported 0.29% stake.

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.

Investors wait WashingtonFirst Bankshares Inc (NASDAQ:WFBI) to report on October, 19. its quarterly earnings Wall Street analysts expect $0.42 EPS, up $0.05 or 13.51 % from last year’s $0.37 same quarter earnings. This translates into $5.49M profit for WFBI giving the stock a 20.10 P/E. This is assuming the current $0.42 EPS is accurate. WashingtonFirst Bankshares Inc’s Wall Street analysts see 0.00 % EPS growth, taking into account the $0.42 EPS reproted in the previous quarter,

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 stock of WashingtonFirst Bankshares Inc (NASDAQ:WFBI) has “Mkt Perform” rating given on Monday, October 24 by Raymond James. The company was downgraded on Monday, October 24 by Keefe Bruyette & Woods. Keefe Bruyette & Woods maintained the stock with “Hold” rating in Friday, July 28 report. The rating was initiated by Raymond James with “Outperform” on Monday, December 14.

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 Businesswire.com with their article: “WashingtonFirst Bankshares, Inc. to Acquire 1” published on May 14, 2015, Businesswire.com published: “WashingtonFirst Bankshares, Inc. Declares 16” on August 22, 2017. More interesting news about WashingtonFirst Bankshares Inc (NASDAQ:WFBI) were released by: Globenewswire.com and their article: “Sandy Spring Bancorp Acquisition of WashingtonFirst Bankshares to Create …” published on May 16, 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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