Heritage Financial Corp (HFWA) Receives Average Recommendation of “Hold” from Brokerages

Shares of Heritage Financial Corp (NASDAQ:HFWA) have been given an average recommendation of “Hold” by the six research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $34.00.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research lowered Heritage Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. BidaskClub lowered Heritage Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, March 22nd. Finally, Stephens reissued a “hold” rating and set a $36.00 price target on shares of Heritage Financial in a research note on Thursday, March 21st.

Shares of NASDAQ HFWA traded up $0.11 during mid-day trading on Monday, reaching $30.15. The company’s stock had a trading volume of 4,148 shares, compared to its average volume of 129,719. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.13 and a beta of 0.70. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. Heritage Financial has a 52 week low of $27.98 and a 52 week high of $37.40.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). The business had revenue of $57.22 million during the quarter, compared to the consensus estimate of $59.73 million. Heritage Financial had a return on equity of 8.77% and a net margin of 25.04%. Research analysts expect that Heritage Financial will post 2.01 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Tuesday, May 7th. Heritage Financial’s payout ratio is presently 40.91%.

In other news, Director Brian L. Vance sold 3,885 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $30.74, for a total value of $119,424.90. Following the sale, the director now directly owns 101,011 shares in the company, valued at $3,105,078.14. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Brian L. Vance sold 13,621 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $31.53, for a total value of $429,470.13. Following the completion of the sale, the director now owns 115,630 shares in the company, valued at $3,645,813.90. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of HFWA. Quantamental Technologies LLC purchased a new stake in shares of Heritage Financial in the fourth quarter worth approximately $30,000. PNC Financial Services Group Inc. increased its holdings in Heritage Financial by 601.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,228 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 1,053 shares during the period. Fifth Third Bancorp increased its holdings in Heritage Financial by 86.1% during the 1st quarter. Fifth Third Bancorp now owns 1,329 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 615 shares during the period. Paloma Partners Management Co purchased a new position in Heritage Financial during the 4th quarter worth $206,000. Finally, BNP Paribas Arbitrage SA increased its holdings in Heritage Financial by 69,063.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,608 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 7,597 shares during the period. Hedge funds and other institutional investors own 81.83% of the company’s stock.

About Heritage Financial

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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