Heritage Financial (NASDAQ:HFWA) Upgraded at ValuEngine

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ValuEngine upgraded shares of Heritage Financial (NASDAQ:HFWA) from a sell rating to a hold rating in a research note released on Monday morning, ValuEngine reports.

Several other research firms have also commented on HFWA. Zacks Investment Research upgraded shares of Heritage Financial from a sell rating to a hold rating in a research report on Wednesday, July 24th. BidaskClub lowered shares of Heritage Financial from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. Janney Montgomery Scott lowered shares of Heritage Financial from a buy rating to a neutral rating in a research report on Friday, July 26th. Finally, Sandler O’Neill lowered shares of Heritage Financial from a buy rating to a hold rating and decreased their target price for the stock from $34.00 to $32.00 in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $34.00.

HFWA stock opened at $26.75 on Monday. The company’s 50 day simple moving average is $28.53 and its 200-day simple moving average is $30.15. The firm has a market capitalization of $1.02 billion, a PE ratio of 14.97, a P/E/G ratio of 2.12 and a beta of 0.72. Heritage Financial has a 12 month low of $26.00 and a 12 month high of $37.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.86 and a quick ratio of 0.86.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.07). The business had revenue of $58.10 million during the quarter, compared to analyst estimates of $59.73 million. Heritage Financial had a net margin of 25.83% and a return on equity of 8.86%. As a group, sell-side analysts anticipate that Heritage Financial will post 1.85 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.76 dividend on an annualized basis and a yield of 2.84%. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.18. Heritage Financial’s dividend payout ratio (DPR) is 43.18%.

In related news, Director Lisa Banner sold 976 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $29.25, for a total transaction of $28,548.00. Following the sale, the director now owns 731 shares in the company, valued at $21,381.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its stake in Heritage Financial by 119.1% during the second quarter. Nisa Investment Advisors LLC now owns 1,205 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 655 shares during the period. Clearbridge Investments LLC raised its stake in Heritage Financial by 54.9% during the first quarter. Clearbridge Investments LLC now owns 1,907 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 676 shares during the period. Capital Fund Management S.A. purchased a new position in Heritage Financial during the second quarter worth approximately $219,000. BNP Paribas Arbitrage SA raised its stake in Heritage Financial by 69,063.6% during the first quarter. BNP Paribas Arbitrage SA now owns 7,608 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 7,597 shares during the period. Finally, Piedmont Investment Advisors Inc. raised its stake in Heritage Financial by 6.6% during the first quarter. Piedmont Investment Advisors Inc. now owns 8,482 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 526 shares during the period. 81.27% of the stock is currently owned by institutional investors.

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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