Heritage Financial Corp (NASDAQ:HFWA) has received a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $34.60.
A number of brokerages recently weighed in on HFWA. BidaskClub downgraded shares of Heritage Financial from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. DA Davidson increased their price target on shares of Heritage Financial from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th. Zacks Investment Research upgraded shares of Heritage Financial from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Monday, October 30th. ValuEngine upgraded shares of Heritage Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Sandler O’Neill reiterated a “buy” rating and issued a $36.00 price target on shares of Heritage Financial in a research report on Friday, January 26th.
In related news, Director Brian Charneski sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $31.78, for a total value of $63,560.00. Following the sale, the director now directly owns 29,602 shares in the company, valued at approximately $940,751.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Clees sold 1,000 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $31.07, for a total transaction of $31,070.00. Following the completion of the sale, the director now owns 46,042 shares in the company, valued at $1,430,524.94. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in Heritage Financial during the 3rd quarter worth approximately $131,000. Susquehanna International Group LLP bought a new stake in Heritage Financial during the 2nd quarter worth approximately $226,000. Macquarie Group Ltd. bought a new stake in Heritage Financial during the 3rd quarter worth approximately $289,000. Teacher Retirement System of Texas bought a new stake in Heritage Financial during the 4th quarter worth approximately $314,000. Finally, MetLife Investment Advisors LLC bought a new stake in Heritage Financial during the 4th quarter worth approximately $389,000. 73.43% of the stock is owned by institutional investors and hedge funds.
Heritage Financial (HFWA) traded down $0.23 during trading on Thursday, reaching $31.17. 264,578 shares of the company’s stock were exchanged, compared to its average volume of 181,549. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.27. Heritage Financial has a 52 week low of $22.50 and a 52 week high of $33.25. The firm has a market cap of $933.04, a P/E ratio of 22.42, a PEG ratio of 1.73 and a beta of 0.50.
Heritage Financial (NASDAQ:HFWA) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. Heritage Financial had a net margin of 21.16% and a return on equity of 8.90%. The company had revenue of $46.22 million for the quarter, compared to the consensus estimate of $43.74 million. research analysts expect that Heritage Financial will post 1.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.92%. This is an increase from Heritage Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, February 6th. Heritage Financial’s dividend payout ratio (DPR) is currently 43.17%.
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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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