Heritage Financial Corp (HFWA) Receives Average Recommendation of “Hold” from Brokerages

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Shares of Heritage Financial Corp (NASDAQ:HFWA) have been given an average rating of “Hold” by the six research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $35.50.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research report on Saturday, December 29th. BidaskClub lowered Heritage Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, December 21st. Finally, ValuEngine upgraded Heritage Financial from a “hold” rating to a “buy” rating in a research report on Friday, November 16th.

In related news, Director Lisa Banner sold 1,326 shares of Heritage Financial stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $33.44, for a total transaction of $44,341.44. Following the sale, the director now directly owns 2,387 shares in the company, valued at $79,821.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian L. Vance sold 5,000 shares of Heritage Financial stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $34.74, for a total value of $173,700.00. Following the sale, the director now owns 128,313 shares in the company, valued at $4,457,593.62. The disclosure for this sale can be found here. Insiders have sold 11,326 shares of company stock worth $390,491 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its position in shares of Heritage Financial by 61.5% during the second quarter. Sei Investments Co. now owns 4,919 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 1,873 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Heritage Financial during the second quarter valued at approximately $211,000. Marshall & Sullivan Inc. WA boosted its position in shares of Heritage Financial by 1,948.0% during the third quarter. Marshall & Sullivan Inc. WA now owns 6,144 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 5,844 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Heritage Financial during the third quarter valued at approximately $228,000. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of Heritage Financial during the third quarter valued at approximately $264,000. Institutional investors own 84.02% of the company’s stock.

HFWA traded up $0.11 on Friday, hitting $30.75. 2,522 shares of the company were exchanged, compared to its average volume of 143,239. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84. Heritage Financial has a 12 month low of $27.98 and a 12 month high of $37.40. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 2.10 and a beta of 0.74.

Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. Heritage Financial had a return on equity of 8.92% and a net margin of 20.10%. The business had revenue of $59.18 million for the quarter, compared to analyst estimates of $57.63 million. As a group, sell-side analysts anticipate that Heritage Financial will post 1.79 EPS for the current year.

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.

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