Heritage Financial Corporation (NASDAQ:HFWA) has been given an average broker rating score of 2.50 (Hold) from the four analysts that provide coverage for the company, Zacks Investment Research reports. Three analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.
Brokers have set a one year consensus price objective of $31.67 for the company and are anticipating that the company will post $0.37 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Heritage Financial Corporation an industry rank of 106 out of 265 based on the ratings given to related companies.
A number of analysts have issued reports on HFWA shares. Piper Jaffray Companies reissued a “hold” rating and issued a $25.00 target price on shares of Heritage Financial Corporation in a research report on Wednesday, July 12th. Zacks Investment Research raised Heritage Financial Corporation from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Friday, July 28th. ValuEngine raised Heritage Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, DA Davidson boosted their target price on Heritage Financial Corporation from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday.
Shares of Heritage Financial Corporation (NASDAQ HFWA) traded down $0.40 during midday trading on Monday, reaching $29.55. The company’s stock had a trading volume of 305,088 shares, compared to its average volume of 177,121. The stock has a market capitalization of $918.82, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 2.16 and a beta of 0.44. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. Heritage Financial Corporation has a 52 week low of $18.30 and a 52 week high of $31.65.
Heritage Financial Corporation (NASDAQ:HFWA) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The company had revenue of $43.39 million for the quarter, compared to analyst estimates of $42.85 million. Heritage Financial Corporation had a return on equity of 8.50% and a net margin of 23.48%. analysts predict that Heritage Financial Corporation will post 1.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Tuesday, November 7th. Heritage Financial Corporation’s dividend payout ratio is currently 37.68%.
In other news, Director Anthony Pickering sold 11,000 shares of the company’s stock in a transaction 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 owns 48,085 shares of the company’s stock, valued at $1,479,094.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian L. Vance sold 5,636 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $30.76, for a total value of $173,363.36. Following the sale, the director now directly owns 142,011 shares in the company, valued at approximately $4,368,258.36. The disclosure for this sale can be found here. Insiders have sold 18,163 shares of company stock worth $556,745 in the last ninety days. Corporate insiders own 2.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. MUFG Americas Holdings Corp increased its position in shares of Heritage Financial Corporation by 1.2% during the second quarter. MUFG Americas Holdings Corp now owns 3,952 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 45 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Heritage Financial Corporation during the third quarter worth $131,000. Legal & General Group Plc increased its position in shares of Heritage Financial Corporation by 4.2% during the second quarter. Legal & General Group Plc now owns 7,369 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 297 shares during the period. Aperio Group LLC purchased a new stake in shares of Heritage Financial Corporation during the second quarter worth $217,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Heritage Financial Corporation during the second quarter worth $226,000. 75.54% of the stock is currently owned by institutional investors and hedge funds.
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About Heritage Financial Corporation
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.
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