DA Davidson Issues Positive Forecast for Heritage Financial (NASDAQ:HFWA) Stock Price

Heritage Financial (NASDAQ:HFWA) had its price objective hoisted by stock analysts at DA Davidson from $32.00 to $34.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. DA Davidson’s target price indicates a potential upside of 12.73% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Zacks Research raised Heritage Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Wall Street Zen raised shares of Heritage Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Heritage Financial in a research report on Tuesday, July 7th. Finally, Piper Sandler lowered their price objective on Heritage Financial from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Heritage Financial Price Performance

Shares of Heritage Financial stock opened at $30.16 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 14.36 and a beta of 0.49. Heritage Financial has a twelve month low of $21.32 and a twelve month high of $31.25. The company has a 50-day simple moving average of $28.67 and a two-hundred day simple moving average of $27.20.

Heritage Financial (NASDAQ:HFWA) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.13. The firm had revenue of $84.13 million for the quarter, compared to analyst estimates of $86.30 million. Heritage Financial had a net margin of 20.44% and a return on equity of 8.78%. Analysts forecast that Heritage Financial will post 2.42 EPS for the current year.

Insider Buying and Selling at Heritage Financial

In related news, CFO Donald Hinson sold 3,842 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $28.37, for a total transaction of $108,997.54. Following the transaction, the chief financial officer directly owned 41,241 shares in the company, valued at approximately $1,170,007.17. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.49% of the stock is owned by insiders.

Hedge Funds Weigh In On Heritage Financial

Several institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in Heritage Financial by 27,871.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,958 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 1,951 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Heritage Financial by 99.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,431 shares during the period. GAMMA Investing LLC increased its holdings in shares of Heritage Financial by 12.2% in the second quarter. GAMMA Investing LLC now owns 6,519 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 710 shares during the period. CWM LLC raised its position in shares of Heritage Financial by 7.7% in the fourth quarter. CWM LLC now owns 8,249 shares of the financial services provider’s stock worth $195,000 after buying an additional 592 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Heritage Financial by 117.1% in the third quarter. BNP Paribas Financial Markets now owns 8,457 shares of the financial services provider’s stock worth $205,000 after buying an additional 4,561 shares in the last quarter. 78.30% of the stock is owned by institutional investors.

Heritage Financial Company Profile

Heritage Financial Corporation (NASDAQ:HFWA) is a bank holding company headquartered in Spokane, Washington. Through its primary subsidiary, Heritage Bank, the company provides a comprehensive range of banking and financial services to both individual and commercial clients. Heritage Bank’s offerings encompass deposit products, lending solutions, treasury and cash management services, mortgage banking, and wealth management, positioning the organization as a full-service community bank.

The company’s lending portfolio includes commercial real estate loans, agricultural loans, small business administration (SBA) loans, construction and development financing, and a variety of consumer mortgage products.