Analysts Set Heritage Financial Corporation (NASDAQ:HFWA) PT at $31.25

Shares of Heritage Financial Corporation (NASDAQ:HFWA) have received an average recommendation of “Hold” from the six research firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $31.25.

A number of equities analysts have recently weighed in on HFWA shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Heritage Financial in a research note on Thursday, January 22nd. Piper Sandler raised their price target on Heritage Financial from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Wall Street Zen raised Heritage Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Stephens increased their price objective on Heritage Financial from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, January 26th. Finally, DA Davidson lifted their target price on shares of Heritage Financial from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, January 23rd.

Heritage Financial Stock Up 0.2%

Shares of Heritage Financial stock opened at $27.80 on Thursday. Heritage Financial has a 1 year low of $19.84 and a 1 year high of $28.44. The company has a market cap of $944.00 million, a P/E ratio of 14.18 and a beta of 0.53. The company has a current ratio of 0.83, a quick ratio of 0.84 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $25.32 and a 200 day moving average price of $24.13.

Heritage Financial (NASDAQ:HFWA) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.09. The company had revenue of $66.35 million for the quarter, compared to the consensus estimate of $65.95 million. Heritage Financial had a return on equity of 8.61% and a net margin of 20.10%. As a group, analysts expect that Heritage Financial will post 2.09 EPS for the current fiscal year.

Heritage Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, January 28th. Heritage Financial’s payout ratio is presently 48.98%.

Insider Buying and Selling at Heritage Financial

In other news, EVP Tony Chalfant sold 4,668 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $27.65, for a total transaction of $129,070.20. Following the transaction, the executive vice president owned 19,870 shares of the company’s stock, valued at approximately $549,405.50. This represents a 19.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederick B. Rivera sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $26.31, for a total value of $47,358.00. Following the completion of the transaction, the director directly owned 4,972 shares in the company, valued at $130,813.32. The trade was a 26.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 8,368 shares of company stock valued at $226,740. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Heritage Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Heritage Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,060 shares of the financial services provider’s stock worth $488,000 after buying an additional 881 shares during the last quarter. Empowered Funds LLC raised its holdings in Heritage Financial by 4.2% in the 1st quarter. Empowered Funds LLC now owns 123,798 shares of the financial services provider’s stock worth $3,012,000 after acquiring an additional 4,947 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Heritage Financial by 7.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 78,130 shares of the financial services provider’s stock worth $1,901,000 after acquiring an additional 5,417 shares during the last quarter. Jane Street Group LLC lifted its position in Heritage Financial by 437.3% during the 1st quarter. Jane Street Group LLC now owns 107,482 shares of the financial services provider’s stock worth $2,615,000 after acquiring an additional 87,479 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Heritage Financial by 7.7% during the second quarter. State of Alaska Department of Revenue now owns 20,292 shares of the financial services provider’s stock valued at $483,000 after acquiring an additional 1,457 shares during the period. Institutional investors and hedge funds own 78.30% of the company’s stock.

Heritage Financial Company Profile

Heritage Financial Corporation (NASDAQ:HFWA) is a bank holding company headquartered in Spokane, Washington. Through its primary subsidiary, Heritage Bank, the company provides a comprehensive range of banking and financial services to both individual and commercial clients. Heritage Bank’s offerings encompass deposit products, lending solutions, treasury and cash management services, mortgage banking, and wealth management, positioning the organization as a full-service community bank.

The company’s lending portfolio includes commercial real estate loans, agricultural loans, small business administration (SBA) loans, construction and development financing, and a variety of consumer mortgage products.