Heritage Financial Corp (NASDAQ:HFWA) has been assigned a consensus recommendation of “Hold” from the six analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $34.00.
Several brokerages recently issued reports on HFWA. Zacks Investment Research lowered shares of Heritage Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Stephens began coverage on shares of Heritage Financial in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $36.00 target price on the stock. BidaskClub raised shares of Heritage Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 4th. Finally, Sandler O’Neill lowered shares of Heritage Financial from a “buy” rating to a “hold” rating and cut their target price for the stock from $34.00 to $32.00 in a research note on Friday, April 26th.
Shares of NASDAQ:HFWA traded down $0.11 during trading on Friday, reaching $29.37. The stock had a trading volume of 8,698 shares, compared to its average volume of 116,679. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.84 and a current ratio of 0.84. Heritage Financial has a 52 week low of $27.81 and a 52 week high of $37.40. The firm has a market cap of $1.08 billion, a P/E ratio of 16.68, a P/E/G ratio of 2.10 and a beta of 0.74.
Heritage Financial (NASDAQ:HFWA) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.04). The company had revenue of $57.22 million for the quarter, compared to the consensus estimate of $59.73 million. Heritage Financial had a return on equity of 8.77% and a net margin of 25.04%. As a group, sell-side analysts anticipate that Heritage Financial will post 1.99 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.72 annualized dividend and a yield of 2.45%. Heritage Financial’s payout ratio is 40.91%.
In other Heritage Financial news, Director Brian L. Vance sold 3,885 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $30.74, for a total transaction of $119,424.90. Following the transaction, the director now owns 101,011 shares in the company, valued at $3,105,078.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HFWA. Quantamental Technologies LLC acquired a new position in Heritage Financial during the fourth quarter worth $30,000. PNC Financial Services Group Inc. raised its holdings in shares of Heritage Financial by 601.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,228 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 1,053 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Heritage Financial by 86.1% in the first quarter. Fifth Third Bancorp now owns 1,329 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 615 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Heritage Financial by 54.9% in the first quarter. Clearbridge Investments LLC now owns 1,907 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 676 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of Heritage Financial in the fourth quarter valued at about $206,000. Hedge funds and other institutional investors own 81.44% 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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