Heritage Financial Corporation (HFWA) – What Are Investment Firms Saying About This Stock?

Shares of Heritage Financial Corporation (NASDAQ:HFWA) have earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $32.67.

Several brokerages recently issued reports on HFWA. Raymond James Financial reaffirmed a “market perform” rating on shares of Heritage Financial in a research note on Thursday, October 22nd. DA Davidson upped their price target on Heritage Financial from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of Heritage Financial in a research report on Friday, October 2nd. Stephens increased their price target on Heritage Financial from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods lifted their price objective on Heritage Financial from $31.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th.

Heritage Financial Trading Down 0.7%

Shares of HFWA stock opened at $28.19 on Friday. The stock’s fifty day moving average is $28.24 and its two-hundred day moving average is $27.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $1.14 billion, a P/E ratio of 14.02 and a beta of 0.53. Heritage Financial has a fifty-two week low of $21.32 and a fifty-two week high of $31.25.

Heritage Financial (NASDAQ:HFWA) last released its earnings results on Thursday, October 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $86.51 million during the quarter, compared to analyst estimates of $86.11 million. Heritage Financial had a net margin of 19.24% and a return on equity of 8.70%. Research analysts expect that Heritage Financial will post 2.32 earnings per share for the current fiscal year.

Heritage Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Wednesday, November 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, November 4th. Heritage Financial’s dividend payout ratio is presently 49.75%.

Insider Activity

In other news, Director Frederick Rivera sold 1,300 shares of Heritage Financial stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $28.57, for a total transaction of $37,141.00. Following the transaction, the director owned 5,890 shares in the company, valued at $168,277.30. The trade was a 18.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On Heritage Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Heritage Financial during the second quarter worth about $172,125,000. Jennison Associates LLC grew its stake in shares of Heritage Financial by 3.4% in the 1st quarter. Jennison Associates LLC now owns 3,213,473 shares of the financial services provider’s stock valued at $83,550,000 after buying an additional 106,308 shares during the period. Basswood Capital Management L.L.C. acquired a new stake in shares of Heritage Financial during the 2nd quarter worth approximately $20,408,000. Algebris UK Ltd. acquired a new stake in shares of Heritage Financial during the 2nd quarter worth approximately $13,860,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Heritage Financial during the 2nd quarter worth approximately $11,817,000. 78.30% of the stock is currently owned by institutional investors and hedge funds.

About Heritage Financial

Heritage Financial Corporation is a bank holding company whose principal subsidiary, Heritage Bank, provides commercial and consumer banking services. Its offerings include business and personal deposit accounts, commercial and residential lending, mortgage services, cash management and other banking services. The company serves individuals, businesses and organizations in Washington and Oregon, with a focus on communities in the Pacific Northwest. Its services include financing for businesses and real estate, as well as everyday banking and digital account services.