Heritage Financial Corp (NASDAQ:HFWA) has been given an average recommendation of “Buy” by the eight analysts that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $35.67.
Several equities analysts recently weighed in on the company. BidaskClub upgraded Heritage Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 24th. Keefe, Bruyette & Woods downgraded Heritage Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 26th. Finally, Zacks Investment Research downgraded Heritage Financial from a “buy” rating to a “hold” rating in a research report on Friday, July 27th.
In other news, CFO Donald Hinson sold 1,316 shares of the business’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $36.11, for a total value of $47,520.76. Following the transaction, the chief financial officer now directly owns 31,909 shares in the company, valued at $1,152,233.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian L. Vance sold 6,734 shares of the business’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $36.29, for a total value of $244,376.86. Following the completion of the transaction, the director now owns 133,313 shares in the company, valued at $4,837,928.77. The disclosure for this sale can be found here. Insiders have sold 9,665 shares of company stock worth $350,697 over the last quarter. 2.70% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in HFWA. Washington Trust Bank purchased a new position in shares of Heritage Financial in the second quarter valued at about $103,000. Sei Investments Co. lifted its position in shares of Heritage Financial by 61.5% in the second quarter. Sei Investments Co. now owns 4,919 shares of the financial services provider’s stock valued at $172,000 after acquiring an additional 1,873 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Heritage Financial in the first quarter valued at about $183,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Heritage Financial in the second quarter valued at about $211,000. Finally, Trexquant Investment LP purchased a new position in shares of Heritage Financial in the first quarter valued at about $235,000. Institutional investors and hedge funds own 78.14% of the company’s stock.
NASDAQ HFWA opened at $36.65 on Monday. The firm has a market cap of $1.34 billion, a P/E ratio of 24.76, a P/E/G ratio of 2.03 and a beta of 0.47. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. Heritage Financial has a fifty-two week low of $25.25 and a fifty-two week high of $37.38.
Heritage Financial (NASDAQ:HFWA) last released its earnings results on Wednesday, July 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.09). The company had revenue of $51.32 million for the quarter, compared to analysts’ expectations of $50.90 million. Heritage Financial had a net margin of 19.36% and a return on equity of 8.54%. equities research analysts anticipate that Heritage Financial will post 1.79 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Thursday, August 9th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 8th. This represents a $0.60 annualized dividend and a yield of 1.64%. Heritage Financial’s dividend payout ratio (DPR) is presently 40.54%.
Heritage Financial Company Profile
Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to businesses and individuals in the United States. The company accepts various deposit products, such as noninterest demand accounts, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.
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