Zacks Investment Research upgraded shares of Heritage Financial Corp. (NASDAQ:HFWA) from a sell rating to a hold rating in a research report released on Wednesday.

According to Zacks, “Heritage Financial Corporation, Inc. is a bank holding company. “

Heritage Financial Corp. (NASDAQ:HFWA) opened at 18.04 on Wednesday. The company has a market capitalization of $535.93 million, a P/E ratio of 14.62 and a beta of 0.51. Heritage Financial Corp. has a 12-month low of $16.40 and a 12-month high of $19.80. The company’s 50 day moving average price is $17.95 and its 200-day moving average price is $17.75.

Heritage Financial Corp. (NASDAQ:HFWA) last released its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by $0.01. Heritage Financial Corp. had a net margin of 22.15% and a return on equity of 7.75%. Equities analysts forecast that Heritage Financial Corp. will post $1.25 earnings per share for the current fiscal year.

In other Heritage Financial Corp. news, EVP Bryan Mcdonald sold 5,286 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $18.41, for a total value of $97,315.26. Following the sale, the executive vice president now owns 21,158 shares in the company, valued at approximately $389,518.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Clees sold 3,000 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $18.09, for a total value of $54,270.00. Following the completion of the sale, the director now owns 61,042 shares in the company, valued at approximately $1,104,249.78. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC raised its stake in Heritage Financial Corp. by 106.8% in the second quarter. O Shaughnessy Asset Management LLC now owns 6,427 shares of the financial services provider’s stock worth $113,000 after buying an additional 3,319 shares during the period. LSV Asset Management bought a new stake in Heritage Financial Corp. during the second quarter worth approximately $123,000. BlackRock Group LTD raised its stake in Heritage Financial Corp. by 233.7% in the first quarter. BlackRock Group LTD now owns 10,859 shares of the financial services provider’s stock worth $191,000 after buying an additional 7,605 shares during the period. BlackRock Inc. raised its stake in Heritage Financial Corp. by 501.9% in the second quarter. BlackRock Inc. now owns 12,164 shares of the financial services provider’s stock worth $214,000 after buying an additional 10,143 shares during the period. Finally, Deere & Co. bought a new stake in Heritage Financial Corp. during the second quarter worth approximately $241,000. Hedge funds and other institutional investors own 72.09% of the company’s stock.

Heritage Financial Corp. Company Profile

Heritage Financial Corporation is a bank holding company engaged in the business of planning, directing and coordinating the business activities of its bank subsidiary, Heritage Bank (the Bank). The Bank also makes real estate construction loans, land development loans and consumer loans, and originates first mortgage loans on residential properties primarily located in its market area.

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