Heritage Financial Corp (NASDAQ:HFWA) Short Interest Update

Heritage Financial Corp (NASDAQ:HFWA) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 2,410,000 shares, an increase of 9.0% from the December 15th total of 2,210,000 shares. Based on an average daily volume of 145,500 shares, the short-interest ratio is presently 16.6 days. Currently, 6.7% of the shares of the stock are short sold.

Shares of NASDAQ:HFWA opened at $27.72 on Wednesday. The business’s 50 day simple moving average is $27.89 and its two-hundred day simple moving average is $27.66. The firm has a market cap of $1.01 billion, a P/E ratio of 15.75 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84. Heritage Financial has a 52-week low of $25.24 and a 52-week high of $33.22.

Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. The business had revenue of $58.70 million for the quarter, compared to analyst estimates of $59.04 million. Heritage Financial had a return on equity of 8.67% and a net margin of 26.72%. On average, equities analysts forecast that Heritage Financial will post 1.82 earnings per share for the current fiscal year.

In other Heritage Financial news, insider David A. Spurling sold 8,661 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $27.47, for a total value of $237,917.67. Following the completion of the transaction, the insider now owns 20,299 shares of the company’s stock, valued at approximately $557,613.53. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co NY raised its stake in shares of Heritage Financial by 4.2% in the third quarter. Metropolitan Life Insurance Co NY now owns 11,611 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 473 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Heritage Financial by 2.4% during the second quarter. UBS Asset Management Americas Inc. now owns 21,233 shares of the financial services provider’s stock valued at $627,000 after acquiring an additional 492 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Heritage Financial by 1.3% during the third quarter. California State Teachers Retirement System now owns 57,113 shares of the financial services provider’s stock valued at $1,540,000 after acquiring an additional 723 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Heritage Financial by 8.7% during the third quarter. New York State Teachers Retirement System now owns 13,796 shares of the financial services provider’s stock valued at $372,000 after acquiring an additional 1,100 shares during the last quarter. Finally, State of Tennessee Treasury Department increased its position in shares of Heritage Financial by 8.5% during the third quarter. State of Tennessee Treasury Department now owns 14,540 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 1,143 shares during the last quarter. 80.16% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on HFWA. Stephens reaffirmed a “hold” rating and issued a $29.00 target price on shares of Heritage Financial in a report on Thursday, October 24th. BidaskClub lowered Heritage Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 31st. DA Davidson lowered Heritage Financial from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 12th. Finally, Zacks Investment Research upgraded Heritage Financial from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $30.67.

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.

Featured Article: What does the Dogs of the Dow mean?

Receive News & Ratings for Heritage Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heritage Financial and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply