Zacks Investment Research Upgrades Heritage Financial Corp. (HFWA) to “Hold”
Heritage Financial Corp. (NASDAQ:HFWA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Heritage Financial Corporation, Inc. is a bank holding company. “
Shares of Heritage Financial Corp. (NASDAQ:HFWA) opened at 18.20 on Tuesday. The company has a 50-day moving average price of $18.16 and a 200 day moving average price of $17.80. The company has a market capitalization of $540.69 million, a price-to-earnings ratio of 14.75 and a beta of 0.49. Heritage Financial Corp. has a one year low of $16.40 and a one year high of $19.80.
Heritage Financial Corp. (NASDAQ:HFWA) last posted its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.01. Heritage Financial Corp. had a return on equity of 7.75% and a net margin of 22.15%. On average, analysts forecast that Heritage Financial Corp. will post $1.25 EPS for the current fiscal year.
In related news, Director John A. Clees sold 3,000 shares of the company’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $18.09, for a total value of $54,270.00. Following the completion of the sale, the director now directly owns 61,042 shares in the company, valued at $1,104,249.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bryan Mcdonald sold 5,286 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $18.41, for a total transaction of $97,315.26. Following the completion of the sale, the executive vice president now owns 21,158 shares of the company’s stock, valued at $389,518.78. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC boosted its stake in shares of Heritage Financial Corp. by 106.8% in the second quarter. O Shaughnessy Asset Management LLC now owns 6,427 shares of the financial services provider’s stock worth $113,000 after buying an additional 3,319 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Heritage Financial Corp. during the second quarter worth about $123,000. BlackRock Inc. boosted its stake in shares of Heritage Financial Corp. by 501.9% in the second quarter. BlackRock Inc. now owns 12,164 shares of the financial services provider’s stock worth $214,000 after buying an additional 10,143 shares in the last quarter. Deere & Co. acquired a new stake in shares of Heritage Financial Corp. during the second quarter worth about $241,000. Finally, Parametric Portfolio Associates LLC acquired a new stake in shares of Heritage Financial Corp. during the second quarter worth about $250,000. Hedge funds and other institutional investors own 72.02% of the company’s stock.
Heritage Financial Corp. Company Profile
Heritage Financial Corporation is a bank holding company engaged in the business of planning, directing and coordinating the business activities of its bank subsidiary, Heritage Bank (the Bank). The Bank also makes real estate construction loans, land development loans and consumer loans, and originates first mortgage loans on residential properties primarily located in its market area.
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