Heritage Financial (HFWA) Stock Rating Reaffirmed by Sandler O’Neill

Heritage Financial (NASDAQ:HFWA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Sandler O’Neill in a research report issued to clients and investors on Friday. They presently have a $35.50 target price on the financial services provider’s stock. Sandler O’Neill’s price objective would suggest a potential upside of 11.99% from the stock’s current price.

HFWA has been the topic of several other reports. BidaskClub cut Heritage Financial from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. DA Davidson raised their target price on Heritage Financial from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. FIG Partners raised Heritage Financial from a “market-perform” rating to an “outperform” rating in a research report on Tuesday, December 12th. Zacks Investment Research raised Heritage Financial from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Monday, October 30th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $33.00 price objective on shares of Heritage Financial in a research report on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $34.50.

Shares of Heritage Financial (NASDAQ HFWA) opened at $31.70 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $1,079.13, a PE ratio of 22.97, a P/E/G ratio of 1.86 and a beta of 0.47. Heritage Financial has a 12 month low of $22.50 and a 12 month high of $33.25.

Heritage Financial (NASDAQ:HFWA) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The company had revenue of $43.39 million for the quarter, compared to analysts’ expectations of $42.85 million. Heritage Financial had a return on equity of 8.42% and a net margin of 23.48%. analysts predict that Heritage Financial will post 1.42 EPS for the current fiscal year.

In other Heritage Financial news, Director Anthony Pickering sold 11,000 shares of Heritage Financial stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $30.76, for a total transaction of $338,360.00. Following the sale, the director now directly owns 48,085 shares of the company’s stock, valued at approximately $1,479,094.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Donald Hinson sold 1,000 shares of Heritage Financial stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $31.22, for a total value of $31,220.00. Following the sale, the chief financial officer now directly owns 33,288 shares in the company, valued at $1,039,251.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,636 shares of company stock worth $667,583. Insiders own 2.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of HFWA. Schwab Charles Investment Management Inc. lifted its holdings in shares of Heritage Financial by 12.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 133,468 shares of the financial services provider’s stock valued at $4,111,000 after purchasing an additional 14,390 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Heritage Financial by 52.9% during the fourth quarter. Bank of Montreal Can now owns 81,482 shares of the financial services provider’s stock valued at $2,510,000 after purchasing an additional 28,176 shares during the last quarter. Thomson Horstmann & Bryant Inc. lifted its holdings in shares of Heritage Financial by 5.7% during the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 466,560 shares of the financial services provider’s stock valued at $14,370,000 after purchasing an additional 25,259 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Heritage Financial by 65.7% during the third quarter. GSA Capital Partners LLP now owns 40,439 shares of the financial services provider’s stock valued at $1,193,000 after purchasing an additional 16,041 shares during the last quarter. Finally, Martin & Co. Inc. TN lifted its holdings in shares of 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. 78.13% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Heritage Financial (NASDAQ:HFWA)

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