Heritage Financial Corp (HFWA) Price Target Lowered to $23.00 at Piper Jaffray Companies
Heritage Financial Corp (NASDAQ:HFWA) had its price target decreased by stock analysts at Piper Jaffray Companies from $24.00 to $23.00 in a research note issued on Monday. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Jaffray Companies’ price objective suggests a potential downside of 5.74% from the company’s current price.
Separately, Zacks Investment Research lowered shares of Heritage Financial Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, December 28th.
Heritage Financial Corp (NASDAQ:HFWA) remained flat at $24.40 on Monday. The stock had a trading volume of 116,182 shares. The company’s 50 day moving average is $24.30 and its 200-day moving average is $23.25. The company has a market capitalization of $724.51 million, a PE ratio of 18.78 and a beta of 0.38. Heritage Financial Corp has a 52 week low of $16.40 and a 52 week high of $26.98.
Heritage Financial Corp (NASDAQ:HFWA) last posted its quarterly earnings data on Thursday, January 26th. The financial services provider reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33. The company had revenue of $41.24 million for the quarter, compared to analyst estimates of $41.44 million. Heritage Financial Corp had a net margin of 22.88% and a return on equity of 7.96%. Equities research analysts expect that Heritage Financial Corp will post $1.33 earnings per share for the current year.
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In other news, Director John A. Clees sold 2,500 shares of Heritage Financial Corp stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $25.44, for a total value of $63,600.00. Following the sale, the director now owns 54,542 shares of the company’s stock, valued at $1,387,548.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David A. Spurling sold 2,000 shares of Heritage Financial Corp stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $25.32, for a total transaction of $50,640.00. Following the completion of the sale, the insider now directly owns 31,553 shares in the company, valued at approximately $798,921.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,500 shares of company stock worth $238,115. 2.80% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its stake in shares of Heritage Financial Corp by 129.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,293 shares of the financial services provider’s stock valued at $111,000 after buying an additional 2,419 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Heritage Financial Corp during the fourth quarter valued at $240,000. O Shaughnessy Asset Management LLC increased its stake in shares of Heritage Financial Corp by 5.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 10,610 shares of the financial services provider’s stock valued at $273,000 after buying an additional 547 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Heritage Financial Corp during the third quarter valued at $498,000. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Heritage Financial Corp by 23.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 19,897 shares of the financial services provider’s stock valued at $512,000 after buying an additional 3,778 shares during the last quarter. 73.32% of the stock is currently owned by institutional investors and hedge funds.
Heritage Financial Corp Company Profile
Heritage Financial Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its bank subsidiary, Heritage Bank (the Bank). The Bank’s lending activities focus on commercial business lending. The Bank also originates consumer loans, real estate construction and land development loans, and one- to four-family residential loans.
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