Notable Price Action: Is Selling 52-Week Stock Like SI Financial Group, Inc. a Winning Strategy?

Notable Price Action: Is Selling 52 Week Stock Like SI Financial Group, Inc. a Winning Strategy?

The stock of SI Financial Group, Inc. (NASDAQ:SIFI) hit a new 52-week low and has $11.18 target or 13.00% below today’s $12.85 share price. The 6 months bearish chart indicates high risk for the $154.03M company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $11.18 price target is reached, the company will be worth $20.02M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock increased 0.39% or $0.05 during the last trading session, hitting $12.85. About 10,046 shares traded hands. SI Financial Group, Inc. (NASDAQ:SIFI) has declined 8.11% since March 31, 2016 and is downtrending. It has underperformed by 10.64% the S&P500.

According to Zacks Investment Research, “SI Financial Group, Inc. is the holding company for Savings Institute Bank and Trust Company, a community-oriented financial institution headquartered in Willimantic, Connecticut. Through its branch locations, the Bank offers a full-range of financial services to individuals, businesses and municipalities within its market area. The primary product offerings include savings, checking and deposit accounts, certificates of deposit, residential and commercial mortgage loans, commercial business loans and consumer loans. Additionally, wealth management services, which include trust, financial planning, investment services and life insurance, are offered to individuals and businesses through its Connecticut offices. The Bank operates offices in Windham, New London, Tolland, Hartford Counties and Middlesex Counties, which the Bank considers its primary market area.”

Insitutional Activity: The institutional sentiment decreased to 1.72 in Q2 2016. Its down 0.13, from 1.85 in 2016Q1. The ratio fall, as 9 funds sold all SI Financial Group, Inc. shares owned while 9 reduced positions. 13 funds bought stakes while 18 increased positions. They now own 7.65 million shares or 6.01% more from 7.22 million shares in 2016Q1.
Prospector Prtnrs Limited Co has 0.16% invested in the company for 73,400 shares. Tfs Cap Limited Liability Corporation has 0.03% invested in the company for 10,265 shares. Wells Fargo And Mn has 3,800 shares for 0% of their US portfolio. Renaissance Ltd Co owns 232,443 shares or 0.01% of their US portfolio. Highlander Cap Management Lc has 0.05% invested in the company for 4,100 shares. Moreover, Wellington Mngmt Group Ltd Liability Partnership has 0% invested in SI Financial Group, Inc. (NASDAQ:SIFI) for 304,603 shares. California Employees Retirement Systems has 0% invested in the company for 36,938 shares. Grace And White Ny holds 82,776 shares or 0.25% of its portfolio. Moreover, Clover Limited Partnership has 1.5% invested in SI Financial Group, Inc. (NASDAQ:SIFI) for 286,920 shares. Teachers Advsr holds 0% of its portfolio in SI Financial Group, Inc. (NASDAQ:SIFI) for 18,019 shares. Bnp Paribas Arbitrage Sa accumulated 0% or 440 shares. Ejf Cap Limited Liability last reported 675,000 shares in the company. Manufacturers Life The accumulated 0% or 981 shares. Price Michael F holds 0.19% or 109,241 shares in its portfolio. Moreover, Savings Bank Of New York Mellon has 0% invested in SI Financial Group, Inc. (NASDAQ:SIFI) for 27,904 shares.

More recent SI Financial Group, Inc. (NASDAQ:SIFI) news were published by: Finance.Yahoo.com which released: “SI Financial Group, Inc. Announces Cash Dividend” on October 26, 2016. Also Globenewswire.com published the news titled: “SI Financial Group, Inc. Reports Results for the Three and Nine Months Ended …” on October 26, 2016. Globenewswire.com‘s news article titled: “SI Financial Group, Inc. Announces Management Changes” with publication date: January 28, 2015 was also an interesting one.

SIFI Company Profile

SI Financial Group, Inc., incorporated on September 7, 2010, is a holding firm for Savings Institute Bank and Trust Company (the Bank). The Bank operates as a community-oriented financial institution offering a range of financial services to clients and businesses in its market area, including insurance, trust and investment services. The Bank accepts deposits from the general public and uses those funds to originate one- to four-family residential, multi-family and commercial real estate, commercial business (including time share lending and loans to condominium associations) and consumer loans. The Bank also purchases commercial business loans, including loans fully guaranteed by the Small Business Administration (SBA) and the United States Department of Agriculture (USDA). The Bank sells certain fixed-rate one- to four-family residential conforming loans it originates in the secondary market with the servicing retained. The remainder of the Bank’s loan portfolio is originated for investment.

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