Zacks Investment Research Upgrades Heritage Financial Corp. (HFWA) to Hold
Heritage Financial Corp. (NASDAQ:HFWA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Heritage Financial Corporation, Inc. is a bank holding company. “
Shares of Heritage Financial Corp. (NASDAQ:HFWA) opened at 18.32 on Tuesday. Heritage Financial Corp. has a 12-month low of $16.40 and a 12-month high of $19.80. The stock has a 50 day moving average of $18.15 and a 200 day moving average of $17.80. The stock has a market capitalization of $544.25 million, a P/E ratio of 14.85 and a beta of 0.49.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/11/zacks-investment-research-upgrades-heritage-financial-corp-hfwa-to-hold.html
Heritage Financial Corp. (NASDAQ:HFWA) last issued its earnings results on Thursday, July 21st. The financial services provider reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Heritage Financial Corp. had a net margin of 22.15% and a return on equity of 7.75%. Equities research analysts anticipate that Heritage Financial Corp. will post $1.25 EPS for the current fiscal year.
In related news, EVP Bryan Mcdonald sold 5,286 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $18.41, for a total value of $97,315.26. Following the sale, the executive vice president now owns 21,158 shares of the company’s stock, valued at $389,518.78. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John A. Clees sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $18.09, for a total transaction of $54,270.00. Following the completion of the sale, the director now directly owns 61,042 shares in the company, valued at approximately $1,104,249.78. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. LSV Asset Management purchased a new stake in shares of Heritage Financial Corp. during the second quarter valued at $123,000. Boston Partners boosted its stake in shares of Heritage Financial Corp. by 2.3% in the second quarter. Boston Partners now owns 160,425 shares of the financial services provider’s stock valued at $2,820,000 after buying an additional 3,561 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Heritage Financial Corp. by 4.2% in the second quarter. PNC Financial Services Group Inc. now owns 99,419 shares of the financial services provider’s stock valued at $1,749,000 after buying an additional 3,964 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of Heritage Financial Corp. during the second quarter valued at $4,285,000. Finally, Context BH Capital Management LP boosted its stake in shares of Heritage Financial Corp. by 4.0% in the second quarter. Context BH Capital Management LP now owns 177,033 shares of the financial services provider’s stock valued at $3,112,000 after buying an additional 6,846 shares during the period. 72.02% of the stock is currently owned by hedge funds and other institutional investors.
About Heritage Financial Corp.
Heritage Financial Corporation is a bank holding company engaged in the business of planning, directing and coordinating the business activities of its bank subsidiary, Heritage Bank (the Bank). The Bank also makes real estate construction loans, land development loans and consumer loans, and originates first mortgage loans on residential properties primarily located in its market area.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Heritage Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heritage Financial Corp. and related companies with MarketBeat.com's FREE daily email newsletter.