BidaskClub upgraded shares of Heritage Financial (NASDAQ:HFWA) from a hold rating to a buy rating in a report published on Thursday morning.
A number of other equities analysts have also recently weighed in on HFWA. Zacks Investment Research raised shares of Heritage Financial from a hold rating to a buy rating and set a $38.00 price target on the stock in a research report on Wednesday, June 27th. Keefe, Bruyette & Woods cut shares of Heritage Financial from an outperform rating to a market perform rating in a research report on Thursday, July 26th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Heritage Financial presently has a consensus rating of Buy and an average target price of $35.60.
Shares of NASDAQ HFWA traded up $0.05 during midday trading on Thursday, reaching $36.55. 761 shares of the stock were exchanged, compared to its average volume of 186,182. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 24.68, a P/E/G ratio of 2.05 and a beta of 0.47. Heritage Financial has a 12 month low of $25.25 and a 12 month high of $37.38. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15.
Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.09). The firm had revenue of $51.32 million for the quarter, compared to the consensus estimate of $50.90 million. Heritage Financial had a return on equity of 8.54% and a net margin of 19.36%. research analysts anticipate that Heritage Financial will post 1.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Thursday, August 9th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.64%. Heritage Financial’s payout ratio is 40.54%.
In related news, Director Brian L. Vance sold 6,734 shares of the firm’s stock in a transaction on Friday, July 27th. The shares were sold at an average price of $36.29, for a total transaction of $244,376.86. Following the sale, the director now directly owns 133,313 shares in the company, valued at $4,837,928.77. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John A. Clees sold 1,000 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $36.26, for a total transaction of $36,260.00. Following the sale, the director now owns 45,209 shares in the company, valued at $1,639,278.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,665 shares of company stock worth $350,697. 2.70% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in Heritage Financial by 26.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 800,900 shares of the financial services provider’s stock valued at $27,912,000 after buying an additional 166,844 shares during the last quarter. Waddell & Reed Financial Inc. increased its stake in Heritage Financial by 4.1% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 623,278 shares of the financial services provider’s stock valued at $21,722,000 after buying an additional 24,420 shares during the last quarter. MetLife Investment Advisors LLC increased its stake in Heritage Financial by 24.8% in the 2nd quarter. MetLife Investment Advisors LLC now owns 15,777 shares of the financial services provider’s stock valued at $550,000 after buying an additional 3,133 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Heritage Financial by 14.6% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,142 shares of the financial services provider’s stock valued at $388,000 after buying an additional 1,419 shares during the last quarter. Finally, JS Capital Management LLC acquired a new stake in Heritage Financial in the 2nd quarter valued at $530,000. Institutional investors and hedge funds own 78.14% of the company’s stock.
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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