FY2018 EPS Estimates for Heritage Financial Corp (HFWA) Boosted by FIG Partners
Heritage Financial Corp (NASDAQ:HFWA) – Equities researchers at FIG Partners boosted their FY2018 earnings estimates for shares of Heritage Financial in a research report issued on Wednesday. FIG Partners analyst T. Coffey now forecasts that the financial services provider will earn $1.91 per share for the year, up from their prior estimate of $1.68. FIG Partners currently has a “Outperform” rating on the stock. FIG Partners also issued estimates for Heritage Financial’s FY2019 earnings at $2.15 EPS.
Several other brokerages also recently commented on HFWA. Keefe, Bruyette & Woods reissued a “hold” rating and set a $33.00 price objective on shares of Heritage Financial in a research report on Friday, December 22nd. BidaskClub cut shares of Heritage Financial from a “buy” rating to a “hold” rating in a research note on Saturday, December 16th. ValuEngine upgraded shares of Heritage Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. DA Davidson upped their target price on shares of Heritage Financial from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. Finally, Zacks Investment Research upgraded shares of Heritage Financial from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Monday, October 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $33.25.
Shares of Heritage Financial (NASDAQ:HFWA) opened at $30.60 on Thursday. Heritage Financial has a 1 year low of $22.50 and a 1 year high of $33.25. The company has a market cap of $909.85, a PE ratio of 22.03, a P/E/G ratio of 1.83 and a beta of 0.47. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.85 and a current ratio of 0.85.
Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. Heritage Financial had a net margin of 23.48% and a return on equity of 8.42%. The company had revenue of $43.39 million for the quarter, compared to the consensus estimate of $42.85 million.
In related news, Director Brian Charneski sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $31.78, for a total value of $63,560.00. Following the completion of the sale, the director now directly owns 29,602 shares of the company’s stock, valued at approximately $940,751.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anthony Pickering sold 11,000 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $30.76, for a total transaction of $338,360.00. Following the completion of the sale, the director now directly owns 48,085 shares of the company’s stock, valued at $1,479,094.60. The disclosure for this sale can be found here. Insiders sold a total of 21,636 shares of company stock valued at $667,583 over the last three months. 2.70% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in Heritage Financial during the 3rd quarter valued at approximately $131,000. Legal & General Group Plc grew its holdings in shares of Heritage Financial by 4.2% in the second quarter. Legal & General Group Plc now owns 7,369 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 297 shares in the last quarter. Susquehanna International Group LLP purchased a new position in shares of Heritage Financial in the second quarter valued at $226,000. Principal Financial Group Inc. purchased a new position in shares of Heritage Financial in the second quarter valued at $274,000. Finally, Pinnacle Associates Ltd. grew its holdings in shares of Heritage Financial by 2.9% in the second quarter. Pinnacle Associates Ltd. now owns 10,600 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 300 shares in the last quarter. 78.13% of the stock is owned by institutional investors and hedge funds.
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About Heritage Financial
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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