ValuEngine Upgrades Heritage Financial (HFWA) to “Buy”

ValuEngine upgraded shares of Heritage Financial (NASDAQ:HFWA) from a hold rating to a buy rating in a research report released on Sunday morning.

A number of other brokerages have also recently weighed in on HFWA. Zacks Investment Research raised shares of Heritage Financial from a hold rating to a buy rating and set a $32.00 price target for the company in a research report on Wednesday, September 27th. Keefe, Bruyette & Woods restated a hold rating and issued a $33.00 target price on shares of Heritage Financial in a research note on Friday, December 22nd. FIG Partners upgraded shares of Heritage Financial from a market-perform rating to an outperform rating in a research note on Tuesday, December 12th. 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, BidaskClub lowered shares of Heritage Financial from a buy rating to a hold rating in a research note on Friday, December 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Heritage Financial has a consensus rating of Buy and a consensus target price of $33.25.

Shares of Heritage Financial (NASDAQ:HFWA) traded up $0.15 during midday trading on Friday, hitting $30.45. 163,200 shares of the stock traded hands, compared to its average volume of 150,550. Heritage Financial has a one year low of $22.50 and a one year high of $33.25. The stock has a market cap of $906.85, a PE ratio of 22.07, a PEG ratio of 1.89 and a beta of 0.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.85 and a quick ratio of 0.85.

Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Heritage Financial had a net margin of 23.48% and a return on equity of 8.42%. The firm had revenue of $43.39 million during the quarter, compared to analysts’ expectations of $42.85 million. sell-side analysts forecast that Heritage Financial will post 1.42 earnings per share for the current fiscal year.

In other Heritage Financial news, CFO Donald Hinson sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $31.22, for a total value of $31,220.00. Following the completion of the transaction, the chief financial officer now owns 33,288 shares in the company, valued at approximately $1,039,251.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Anthony Pickering sold 11,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 48,085 shares of the company’s stock, valued at approximately $1,479,094.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,636 shares of company stock worth $667,583. 2.70% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP grew its position in Heritage Financial by 65.7% in the 3rd quarter. GSA Capital Partners LLP now owns 40,439 shares of the financial services provider’s stock worth $1,193,000 after purchasing an additional 16,041 shares during the last quarter. Martin & Co. Inc. TN lifted its stake in Heritage Financial by 46.2% during the third quarter. Martin & Co. Inc. TN now owns 61,994 shares of the financial services provider’s stock valued at $1,829,000 after purchasing an additional 19,588 shares during the last quarter. California Public Employees Retirement System lifted its stake in Heritage Financial by 13.9% during the third quarter. California Public Employees Retirement System now owns 93,591 shares of the financial services provider’s stock valued at $2,761,000 after purchasing an additional 11,391 shares during the last quarter. OxFORD Asset Management LLP acquired a new stake in Heritage Financial during the third quarter valued at approximately $1,084,000. Finally, Dimensional Fund Advisors LP lifted its stake in Heritage Financial by 6.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,725,844 shares of the financial services provider’s stock valued at $50,913,000 after purchasing an additional 106,130 shares during the last quarter. Hedge funds and other institutional investors own 78.13% of the company’s stock.

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Heritage Financial 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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