Heritage Financial Corp (NASDAQ:HFWA) – Research analysts at FIG Partners lifted their FY2018 EPS estimates for Heritage Financial in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. FIG Partners analyst T. Coffey now forecasts that the financial services provider will post earnings per share of $1.68 for the year, up from their previous estimate of $1.51. FIG Partners has a “Outperform” rating on the stock.
Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. The company had revenue of $43.39 million for the quarter, compared to analyst estimates of $42.85 million. Heritage Financial had a return on equity of 8.42% and a net margin of 23.48%.
Several other equities analysts also recently commented on HFWA. ValuEngine raised Heritage Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Heritage Financial in a research report on Tuesday, January 9th. Zacks Investment Research raised Heritage Financial from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Wednesday, September 27th. BidaskClub downgraded Heritage Financial from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Heritage Financial in a research report on Friday, December 22nd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $34.25.
Heritage Financial (NASDAQ HFWA) opened at $31.80 on Friday. The company has a market capitalization of $951.75, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 1.86 and a beta of 0.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.85 and a quick ratio of 0.85. Heritage Financial has a 12-month low of $22.50 and a 12-month high of $33.25.
In other news, Director Brian Charneski sold 2,000 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $31.78, for a total transaction of $63,560.00. Following the transaction, the director now owns 29,602 shares of the company’s stock, valued at approximately $940,751.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John A. Clees sold 1,000 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $30.01, for a total value of $30,010.00. Following the transaction, the director now directly owns 47,042 shares in the company, valued at approximately $1,411,730.42. The disclosure for this sale can be found here. Insiders have sold a total of 21,636 shares of company stock worth $667,583 in the last three months. Corporate insiders own 2.70% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Heritage Financial during the third quarter valued at about $131,000. Legal & General Group Plc boosted its position in Heritage Financial by 4.2% during the second quarter. Legal & General Group Plc now owns 7,369 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 297 shares in the last quarter. Aperio Group LLC bought a new stake in Heritage Financial during the second quarter valued at about $217,000. Susquehanna International Group LLP bought a new stake in Heritage Financial during the second quarter valued at about $226,000. Finally, Macquarie Group Ltd. bought a new stake in Heritage Financial during the third quarter valued at about $289,000. 78.13% of the stock is currently owned by institutional investors.
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.
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