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

Heritage Financial (NASDAQ:HFWA)‘s stock had its “buy” rating reaffirmed by analysts at Sandler O’Neill in a report released on Friday. They presently have a $35.50 price target on the financial services provider’s stock. Sandler O’Neill’s price target points to a potential upside of 11.46% from the company’s previous close.

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

Shares of Heritage Financial (NASDAQ HFWA) opened at $31.85 on Friday. The firm has a market cap of $944.27, a PE ratio of 23.08, a P/E/G ratio of 1.85 and a beta of 0.47. Heritage Financial has a 52 week low of $22.50 and a 52 week high of $33.25. 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 (NASDAQ:HFWA) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.35. The business had revenue of $43.39 million for the quarter, compared to analysts’ expectations of $42.85 million. Heritage Financial had a net margin of 23.48% and a return on equity of 8.42%. equities analysts expect that Heritage Financial will post 1.42 EPS for the current year.

In other Heritage Financial news, Director Brian Charneski sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $31.78, for a total value of $63,560.00. Following the transaction, the director now directly owns 29,602 shares in the company, valued at $940,751.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Donald Hinson sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $31.22, for a total transaction of $31,220.00. Following the completion of the transaction, the chief financial officer now 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 90 days, insiders sold 21,636 shares of company stock worth $667,583. Company insiders own 2.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in HFWA. SG Americas Securities LLC acquired a new position in shares of Heritage Financial during the third quarter worth approximately $131,000. Legal & General Group Plc lifted its position in shares of 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 worth $195,000 after purchasing an additional 297 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Heritage Financial during the second quarter worth approximately $226,000. Macquarie Group Ltd. acquired a new position in shares of Heritage Financial during the third quarter worth approximately $289,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Heritage Financial during the second quarter worth approximately $274,000. Hedge funds and other institutional investors own 78.13% 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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