Several other brokerages have also weighed in on HFWA. BidaskClub lowered shares of Heritage Financial from a sell rating to a strong sell rating in a report on Tuesday, June 11th. Janney Montgomery Scott lowered shares of Heritage Financial from a buy rating to a neutral rating in a report on Friday, July 26th. Zacks Investment Research raised shares of Heritage Financial from a sell rating to a hold rating in a report on Wednesday, July 24th. Finally, Sandler O’Neill lowered shares of Heritage Financial from a buy rating to a hold rating and decreased their price objective for the stock from $34.00 to $32.00 in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The company presently has an average rating of Hold and a consensus target price of $34.00.
Shares of HFWA stock opened at $26.75 on Monday. The firm has a market cap of $1.02 billion, a P/E ratio of 14.97, a P/E/G ratio of 2.12 and a beta of 0.72. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.86 and a quick ratio of 0.86. Heritage Financial has a 1-year low of $26.00 and a 1-year high of $37.40. The firm has a fifty day moving average of $28.53 and a two-hundred day moving average of $30.15.
Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.07). The company had revenue of $58.10 million for the quarter, compared to analyst estimates of $59.73 million. Heritage Financial had a return on equity of 8.86% and a net margin of 25.83%. On average, sell-side analysts expect that Heritage Financial will post 1.85 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, August 7th. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 2.84%. Heritage Financial’s payout ratio is 43.18%.
In other news, Director Lisa Banner sold 976 shares of Heritage Financial stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $29.25, for a total value of $28,548.00. Following the completion of the transaction, the director now directly owns 731 shares of the company’s stock, valued at approximately $21,381.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of HFWA. Nuveen Asset Management LLC purchased a new position in shares of Heritage Financial in the second quarter worth approximately $4,330,000. Martin & Co. Inc. TN increased its position in shares of Heritage Financial by 32.1% in the second quarter. Martin & Co. Inc. TN now owns 84,575 shares of the financial services provider’s stock worth $2,498,000 after acquiring an additional 20,564 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Heritage Financial by 2.4% in the second quarter. UBS Asset Management Americas Inc. now owns 21,233 shares of the financial services provider’s stock worth $627,000 after acquiring an additional 492 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Heritage Financial by 155.4% in the second quarter. Citadel Advisors LLC now owns 36,895 shares of the financial services provider’s stock worth $1,090,000 after acquiring an additional 22,448 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Heritage Financial in the second quarter worth approximately $3,047,000. 81.27% of the stock is 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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