Sandler O’Neill reiterated their buy rating on shares of Heritage Financial (NASDAQ:HFWA) in a research note issued to investors on Friday morning. They currently have a $35.50 price objective on the financial services provider’s stock.
Several other equities research analysts have also commented on HFWA. Zacks Investment Research upgraded Heritage Financial from a hold rating to a buy rating and set a $32.00 price objective for the company in a research note on Wednesday, September 27th. DA Davidson upped their price objective on Heritage Financial from $35.00 to $36.00 and gave the stock a buy rating in a research note on Tuesday, November 7th. BidaskClub lowered Heritage Financial from a strong-buy rating to a buy rating in a research note on Thursday, December 7th. FIG Partners upgraded Heritage Financial from a market-perform rating to an outperform rating in a research note on Tuesday, December 12th. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $33.00 price objective on shares of Heritage Financial in a research note on Friday, December 22nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Heritage Financial presently has an average rating of Buy and an average price target of $34.50.
Shares of Heritage Financial (NASDAQ:HFWA) traded down $0.15 on Friday, reaching $31.70. 200,077 shares of the company’s stock were exchanged, compared to its average volume of 145,294. The stock has a market cap of $944.28, a price-to-earnings ratio of 22.81, a PEG ratio of 1.87 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 has a 1-year low of $22.50 and a 1-year high of $33.25.
In other news, Director Anthony Pickering sold 11,000 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $30.76, for a total value of $338,360.00. Following the completion of the sale, the director now directly owns 48,085 shares in the company, valued at approximately $1,479,094.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian L. Vance sold 5,636 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $30.76, for a total value of $173,363.36. Following the completion of the sale, the director now owns 142,011 shares of the company’s stock, valued at $4,368,258.36. 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 90 days. 2.70% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in Heritage Financial in the 3rd quarter worth $131,000. Legal & General Group Plc increased its stake in Heritage Financial by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 7,369 shares of the financial services provider’s stock worth $195,000 after buying an additional 297 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in Heritage Financial in the 2nd quarter worth $226,000. Principal Financial Group Inc. purchased a new stake in Heritage Financial in the 2nd quarter worth $274,000. Finally, Macquarie Group Ltd. purchased a new stake in Heritage Financial in the 3rd quarter worth $289,000. Institutional investors and hedge funds own 78.13% of the company’s stock.
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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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