Heritage Financial (HFWA) Upgraded at ValuEngine

ValuEngine upgraded shares of Heritage Financial (NASDAQ:HFWA) from a hold rating to a buy rating in a research report released on Friday morning.

A number of other research analysts also recently issued reports on HFWA. Zacks Investment Research downgraded shares of Heritage Financial from a buy rating to a hold rating in a research note on Tuesday, October 9th. BidaskClub upgraded shares of Heritage Financial from a buy rating to a strong-buy rating in a research note on Tuesday, July 24th. Finally, Keefe, Bruyette & Woods downgraded shares of Heritage Financial from an outperform rating to a market perform rating in a research note on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Heritage Financial has an average rating of Hold and a consensus price target of $36.25.

NASDAQ HFWA opened at $34.39 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.03. Heritage Financial has a one year low of $28.46 and a one year high of $37.40. The company has a market capitalization of $1.26 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 2.73 and a beta of 0.55.

Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Heritage Financial had a net margin of 20.10% and a return on equity of 8.92%. The business had revenue of $59.18 million during the quarter, compared to analyst estimates of $57.63 million. Equities research analysts anticipate that Heritage Financial will post 1.79 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $0.68 dividend on an annualized basis and a yield of 1.98%. This is an increase from Heritage Financial’s previous quarterly dividend of $0.15. Heritage Financial’s payout ratio is currently 45.95%.

In related news, Director Lisa Banner sold 1,326 shares of Heritage Financial stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $33.44, for a total value of $44,341.44. Following the completion of the transaction, the director now owns 2,387 shares in the company, valued at $79,821.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Clees sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $36.26, for a total transaction of $36,260.00. Following the sale, the director now directly owns 45,209 shares in the company, valued at approximately $1,639,278.34. The disclosure for this sale can be found here. Insiders sold 2,941 shares of company stock valued at $103,141 in the last quarter. 1.80% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in HFWA. BlackRock Inc. raised its holdings in Heritage Financial by 111.0% during the second quarter. BlackRock Inc. now owns 4,415,298 shares of the financial services provider’s stock worth $153,872,000 after purchasing an additional 2,322,856 shares in the last quarter. Jennison Associates LLC acquired a new stake in Heritage Financial during the second quarter worth approximately $8,474,000. Bank of New York Mellon Corp raised its holdings in Heritage Financial by 26.3% during the second quarter. Bank of New York Mellon Corp now owns 800,900 shares of the financial services provider’s stock worth $27,912,000 after purchasing an additional 166,844 shares in the last quarter. Matarin Capital Management LLC acquired a new stake in Heritage Financial during the third quarter worth approximately $3,745,000. Finally, Comerica Bank acquired a new stake in Heritage Financial during the second quarter worth approximately $2,889,000. 82.43% of the stock is currently owned by institutional investors.

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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