Heritage Financial (HFWA) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Heritage Financial (NASDAQ:HFWA) from a hold rating to a buy rating in a report released on Saturday.

Several other equities analysts have also recently weighed in on the company. Piper Jaffray reissued a hold rating and set a $33.00 price target on shares of Heritage Financial in a report on Tuesday, January 9th. ValuEngine raised Heritage Financial from a hold rating to a buy rating in a report on Saturday, February 17th. Sandler O’Neill reissued a buy rating and set a $36.00 price target on shares of Heritage Financial in a report on Friday, January 26th. Keefe, Bruyette & Woods raised Heritage Financial from a market perform rating to an outperform rating in a report on Monday, March 12th. Finally, Zacks Investment Research cut Heritage Financial from a buy rating to a hold rating in a report on Tuesday, March 6th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $34.60.

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HFWA stock opened at $30.85 on Friday. The company has a market capitalization of $1,042.51, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 1.72 and a beta of 0.49. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.22. Heritage Financial has a 12-month low of $23.00 and a 12-month high of $33.25.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $46.22 million for the quarter, compared to analysts’ expectations of $43.74 million. Heritage Financial had a return on equity of 8.86% and a net margin of 21.16%. analysts forecast that Heritage Financial will post 1.78 EPS for the current year.

Several large investors have recently bought and sold shares of the company. New York State Common Retirement Fund increased its stake in shares of Heritage Financial by 5.5% in the 3rd quarter. New York State Common Retirement Fund now owns 46,323 shares of the financial services provider’s stock worth $1,367,000 after purchasing an additional 2,408 shares in the last quarter. Martin & Co. Inc. TN increased its stake in shares of Heritage Financial by 4.7% in the 4th quarter. Martin & Co. Inc. TN now owns 64,879 shares of the financial services provider’s stock worth $1,998,000 after purchasing an additional 2,885 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Heritage Financial by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 262,874 shares of the financial services provider’s stock worth $8,096,000 after purchasing an additional 3,226 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Heritage Financial by 2.8% in the 4th quarter. Mutual of America Capital Management LLC now owns 146,886 shares of the financial services provider’s stock worth $4,524,000 after purchasing an additional 4,041 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Heritage Financial in the 3rd quarter worth $131,000. Hedge funds and other institutional investors own 71.10% of the company’s stock.

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About Heritage Financial

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.

Analyst Recommendations for Heritage Financial (NASDAQ:HFWA)

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