Heritage Financial (HFWA) Lifted to “Sell” at BidaskClub

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Heritage Financial (NASDAQ:HFWA) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Wednesday.

Several other research firms have also recently weighed in on HFWA. Zacks Investment Research cut shares of Heritage Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. ValuEngine upgraded shares of Heritage Financial from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Heritage Financial currently has an average rating of “Hold” and an average target price of $38.00.

HFWA opened at $30.98 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 2.13 and a beta of 0.74. Heritage Financial has a 1-year low of $27.98 and a 1-year high of $37.40.

Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings data on Thursday, January 24th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $59.73 million during the quarter, compared to analyst estimates of $59.40 million. Heritage Financial had a net margin of 22.94% and a return on equity of 8.82%. As a group, equities research analysts forecast that Heritage Financial will post 2.1 EPS for the current year.

In other news, Director Lisa Banner sold 1,326 shares of Heritage Financial stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $33.44, for a total transaction of $44,341.44. Following the completion of the sale, the director now owns 2,387 shares in the company, valued at approximately $79,821.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brian L. Vance sold 5,000 shares of Heritage Financial stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $34.49, for a total transaction of $172,450.00. Following the sale, the director now owns 128,313 shares of the company’s stock, valued at approximately $4,425,515.37. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,326 shares of company stock valued at $390,491. 1.80% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. D.A. Davidson & CO. grew its position in shares of Heritage Financial by 3.5% during the 4th quarter. D.A. Davidson & CO. now owns 13,287 shares of the financial services provider’s stock worth $395,000 after buying an additional 454 shares during the period. Bank of Montreal Can grew its holdings in Heritage Financial by 6.8% during the fourth quarter. Bank of Montreal Can now owns 9,515 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 608 shares during the period. State of Alaska Department of Revenue grew its holdings in Heritage Financial by 7.5% during the fourth quarter. State of Alaska Department of Revenue now owns 11,089 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 769 shares during the period. Quantamental Technologies LLC acquired a new position in Heritage Financial during the fourth quarter valued at approximately $30,000. Finally, Xact Kapitalforvaltning AB grew its holdings in Heritage Financial by 12.0% during the fourth quarter. Xact Kapitalforvaltning AB now owns 13,023 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 83.99% of the company’s stock.

Heritage Financial Company Profile

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.

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