Heritage Financial (NASDAQ:HFWA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $38.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 9.83% from the stock’s current price.
According to Zacks, “Heritage Financial Corporation, Inc. is a bank holding company. “
Other analysts have also recently issued reports about the company. BidaskClub upgraded Heritage Financial from a “hold” rating to a “buy” rating in a report on Saturday, April 14th. ValuEngine cut Heritage Financial from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Keefe, Bruyette & Woods upgraded Heritage Financial from a “market perform” rating to an “outperform” rating in a report on Monday, March 12th. Finally, Piper Jaffray Companies raised Heritage Financial from a “neutral” rating to an “overweight” rating and set a $35.00 price target on the stock in a research note on Wednesday, May 2nd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $35.60.
Shares of NASDAQ:HFWA opened at $34.60 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 23.38, a P/E/G ratio of 1.83 and a beta of 0.53. Heritage Financial has a 52-week low of $25.25 and a 52-week high of $35.90.
Heritage Financial (NASDAQ:HFWA) last issued its earnings results on Thursday, April 26th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.15). The company had revenue of $48.39 million during the quarter, compared to analysts’ expectations of $47.66 million. Heritage Financial had a net margin of 20.10% and a return on equity of 9.09%. equities analysts expect that Heritage Financial will post 1.84 earnings per share for the current fiscal year.
In other news, insider David A. Spurling sold 1,500 shares of the company’s stock in a transaction on Monday, April 30th. The stock was sold at an average price of $29.85, for a total value of $44,775.00. Following the transaction, the insider now owns 27,255 shares of the company’s stock, valued at approximately $813,561.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its stake in shares of Heritage Financial by 12.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 133,468 shares of the financial services provider’s stock valued at $4,111,000 after purchasing an additional 14,390 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Heritage Financial by 27.2% in the 4th quarter. Wells Fargo & Company MN now owns 163,497 shares of the financial services provider’s stock valued at $5,034,000 after purchasing an additional 34,948 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Heritage Financial by 4.8% in the 4th quarter. BlackRock Inc. now owns 2,128,041 shares of the financial services provider’s stock valued at $65,545,000 after purchasing an additional 96,950 shares during the last quarter. Forest Hill Capital LLC lifted its stake in shares of Heritage Financial by 1.5% in the 4th quarter. Forest Hill Capital LLC now owns 389,117 shares of the financial services provider’s stock valued at $11,985,000 after purchasing an additional 5,800 shares during the last quarter. Finally, Allianz Asset Management GmbH acquired a new position in shares of Heritage Financial in the 4th quarter valued at $2,768,000. 77.14% of the stock is currently owned by institutional investors and hedge funds.
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.
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