Heritage Financial Co. (HFWA) Receives $35.00 Average Target Price from Analysts

Shares of Heritage Financial Co. (NASDAQ:HFWA) have received a consensus recommendation of “Buy” from the eight ratings firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $35.00.

A number of equities research analysts recently weighed in on HFWA shares. ValuEngine raised shares of Heritage Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Keefe, Bruyette & Woods raised shares of Heritage Financial from a “market perform” rating to an “outperform” rating in a research note on Monday, March 12th. BidaskClub downgraded shares of Heritage Financial from a “buy” rating to a “hold” rating in a research note on Saturday, March 3rd. Piper Jaffray reissued a “hold” rating and set a $33.00 price target on shares of Heritage Financial in a research note on Tuesday, January 9th. Finally, FIG Partners raised shares of Heritage Financial from a “market-perform” rating to an “outperform” rating in a research note on Tuesday, December 12th.

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A number of large investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Heritage Financial by 4.8% in the fourth quarter. BlackRock Inc. now owns 2,128,041 shares of the financial services provider’s stock valued at $65,545,000 after purchasing an additional 96,950 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Heritage Financial by 6.6% in 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 in the last quarter. Goldman Sachs Group Inc. increased its stake in Heritage Financial by 0.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 978,324 shares of the financial services provider’s stock valued at $30,133,000 after purchasing an additional 8,011 shares in the last quarter. Alliancebernstein L.P. increased its stake in Heritage Financial by 598.1% in the fourth quarter. Alliancebernstein L.P. now owns 853,510 shares of the financial services provider’s stock valued at $26,288,000 after purchasing an additional 731,242 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Heritage Financial by 6.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 740,098 shares of the financial services provider’s stock valued at $22,795,000 after purchasing an additional 43,168 shares in the last quarter. 70.94% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ HFWA opened at $29.95 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1,018.70, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.68 and a beta of 0.49. Heritage Financial has a 1-year low of $23.00 and a 1-year high of $33.25.

Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.06. The business had revenue of $46.22 million during the quarter, compared to the consensus estimate of $43.74 million. Heritage Financial had a net margin of 21.16% and a return on equity of 8.86%. equities research analysts anticipate that Heritage Financial will post 1.78 earnings per share for the current year.

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About Heritage Financial

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to businesses and individuals in the United States. The company accepts various deposit products, such as noninterest demand accounts, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.

Analyst Recommendations for Heritage Financial (NASDAQ:HFWA)

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