Heritage Financial Corp (HFWA) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Heritage Financial Corp (NASDAQ:HFWA) have been given an average rating of “Buy” by the eight research firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $34.60.

A number of brokerages have recently commented on HFWA. Sandler O’Neill restated a “buy” rating and issued a $36.00 price target on shares of Heritage Financial in a report on Friday, January 26th. Piper Jaffray Companies restated a “hold” rating and issued a $33.00 price target on shares of Heritage Financial in a report on Tuesday, January 9th. ValuEngine upgraded Heritage Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. BidaskClub lowered Heritage Financial from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $33.00 target price on shares of Heritage Financial in a report on Friday, December 22nd.

Shares of Heritage Financial (NASDAQ:HFWA) opened at $30.20 on Thursday. The company has a market capitalization of $999.12, a PE ratio of 23.59, a PEG ratio of 1.62 and a beta of 0.50. Heritage Financial has a twelve month low of $22.50 and a twelve month high of $33.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.27.

Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $46.22 million for the quarter, compared to analyst estimates of $43.74 million. Heritage Financial had a return on equity of 8.90% and a net margin of 21.16%. sell-side analysts anticipate that Heritage Financial will post 1.81 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.99%. The ex-dividend date is Tuesday, February 6th. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.13. Heritage Financial’s dividend payout ratio is presently 46.88%.

In related news, Director Brian Charneski sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $31.78, for a total transaction of $63,560.00. Following the sale, the director now owns 29,602 shares in the company, valued at $940,751.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Clees sold 1,000 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $31.07, for a total value of $31,070.00. Following the sale, the director now owns 46,042 shares in the company, valued at approximately $1,430,524.94. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC raised its holdings in Heritage Financial by 2.3% during the second quarter. Parametric Portfolio Associates LLC now owns 42,284 shares of the financial services provider’s stock worth $1,121,000 after acquiring an additional 949 shares in the last quarter. Voya Investment Management LLC raised its stake in Heritage Financial by 11.3% in the second quarter. Voya Investment Management LLC now owns 16,922 shares of the financial services provider’s stock valued at $448,000 after buying an additional 1,715 shares during the period. Schroder Investment Management Group raised its stake in Heritage Financial by 0.3% in the third quarter. Schroder Investment Management Group now owns 637,262 shares of the financial services provider’s stock valued at $18,895,000 after buying an additional 2,050 shares during the period. New York State Common Retirement Fund raised its stake in Heritage Financial by 5.5% in the third quarter. New York State Common Retirement Fund now owns 46,323 shares of the financial services provider’s stock valued at $1,367,000 after buying an additional 2,408 shares during the period. Finally, California Public Employees Retirement System raised its stake in Heritage Financial by 3.1% in the second quarter. California Public Employees Retirement System now owns 82,200 shares of the financial services provider’s stock valued at $2,178,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

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Heritage Financial Company Profile

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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