Heritage Financial Corporation (NASDAQ:HFWA) Given Average Rating of “Hold” by Brokerages

Shares of Heritage Financial Corporation (NASDAQ:HFWA) have been assigned an average rating of “Hold” from the five brokerages that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $29.3333.

HFWA has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Heritage Financial from $26.00 to $28.00 and gave the company a “market perform” rating in a research note on Monday, September 29th. DA Davidson set a $29.00 target price on Heritage Financial in a research report on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of Heritage Financial in a research note on Wednesday, October 8th. Zacks Research cut Heritage Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Wall Street Zen raised Heritage Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th.

Heritage Financial Stock Performance

Shares of Heritage Financial stock opened at $24.13 on Friday. Heritage Financial has a 52 week low of $19.84 and a 52 week high of $26.92. The business’s fifty day simple moving average is $23.81 and its 200-day simple moving average is $23.92. The firm has a market cap of $819.45 million, a PE ratio of 14.62 and a beta of 0.52. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.18.

Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. Heritage Financial had a return on equity of 8.21% and a net margin of 17.27%.The firm had revenue of $65.70 million during the quarter, compared to the consensus estimate of $65.25 million. Equities analysts forecast that Heritage Financial will post 2.09 earnings per share for the current year.

Heritage Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 5th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, November 5th. Heritage Financial’s dividend payout ratio is currently 58.18%.

Insider Activity at Heritage Financial

In other Heritage Financial news, President Bryan Mcdonald acquired 19,106 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was purchased at an average price of $22.32 per share, for a total transaction of $426,445.92. Following the completion of the acquisition, the president owned 31,363 shares of the company’s stock, valued at approximately $700,022.16. This trade represents a 155.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Heritage Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its position in shares of Heritage Financial by 316.9% during the third quarter. Hantz Financial Services Inc. now owns 1,651 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 1,255 shares during the period. EverSource Wealth Advisors LLC grew its stake in Heritage Financial by 27,871.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,958 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,951 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Heritage Financial by 99.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,431 shares in the last quarter. GAMMA Investing LLC increased its holdings in Heritage Financial by 53.3% during the 2nd quarter. GAMMA Investing LLC now owns 4,557 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,585 shares during the period. Finally, Marshall & Sullivan Inc. WA acquired a new stake in Heritage Financial in the 2nd quarter valued at about $146,000. Hedge funds and other institutional investors own 78.30% of the company’s stock.

About Heritage Financial

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.