ValuEngine upgraded shares of Heritage Financial (NASDAQ:HFWA) from a hold rating to a buy rating in a research note released on Saturday.
Other equities analysts have also recently issued research reports about the company. FIG Partners raised Heritage Financial from a market-perform rating to an outperform rating in a research note on Tuesday, December 12th. Piper Jaffray Companies reissued a hold rating and issued a $33.00 price target on shares of Heritage Financial in a research note on Tuesday, January 9th. BidaskClub cut Heritage Financial from a buy rating to a hold rating in a research note on Friday, December 29th. Sandler O’Neill reissued a buy rating and issued a $36.00 price target on shares of Heritage Financial in a research note on Friday, January 26th. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $33.00 price target on shares of Heritage Financial in a research note on Friday, December 22nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $34.60.
Shares of Heritage Financial (NASDAQ HFWA) opened at $31.40 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.85 and a quick ratio of 0.85. Heritage Financial has a 1 year low of $22.50 and a 1 year high of $33.25. The company has a market cap of $1,068.92, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.73 and a beta of 0.50.
Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. Heritage Financial had a net margin of 21.16% and a return on equity of 8.90%. The firm had revenue of $46.22 million for the quarter, compared to analysts’ expectations of $43.74 million. equities analysts anticipate that Heritage Financial will post 1.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.91%. This is a boost from Heritage Financial’s previous quarterly dividend of $0.13. Heritage Financial’s dividend payout ratio (DPR) is currently 46.88%.
In related news, Director John A. Clees sold 1,000 shares of Heritage Financial stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $31.07, for a total value of $31,070.00. Following the transaction, the director now owns 46,042 shares of the company’s stock, valued at approximately $1,430,524.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Charneski sold 2,000 shares of Heritage Financial stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $31.78, for a total value of $63,560.00. Following the transaction, the director now directly owns 29,602 shares in the company, valued at approximately $940,751.56. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Martin & Co. Inc. TN grew its stake in Heritage Financial by 46.2% during the 3rd quarter. Martin & Co. Inc. TN now owns 61,994 shares of the financial services provider’s stock valued at $1,829,000 after acquiring an additional 19,588 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Heritage Financial by 5.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 119,078 shares of the financial services provider’s stock valued at $3,513,000 after acquiring an additional 6,302 shares in the last quarter. TD Asset Management Inc. purchased a new position in Heritage Financial during the 3rd quarter valued at about $732,000. Mutual of America Capital Management LLC grew its stake in Heritage Financial by 2.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 142,845 shares of the financial services provider’s stock valued at $4,214,000 after acquiring an additional 3,435 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Heritage Financial by 1.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 440,310 shares of the financial services provider’s stock valued at $13,054,000 after acquiring an additional 6,513 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.
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About Heritage Financial
Heritage Financial Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its bank subsidiary, Heritage Bank (the Bank). The Bank’s lending activities focus on commercial business lending. The Bank also originates consumer loans, real estate construction and land development loans, and one- to four-family residential loans.
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