Zacks Investment Research upgraded shares of Heritage Financial Corporation (NASDAQ:HFWA) from a hold rating to a buy rating in a research note released on Wednesday morning. The firm currently has $32.00 price objective on the financial services provider’s stock.

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

Several other research analysts also recently weighed in on HFWA. ValuEngine raised shares of Heritage Financial Corporation from a hold rating to a buy rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods reissued a hold rating and issued a $27.00 target price on shares of Heritage Financial Corporation in a research report on Friday, June 2nd. BidaskClub downgraded shares of Heritage Financial Corporation from a buy rating to a hold rating in a research report on Tuesday, July 11th. Finally, Piper Jaffray Companies reissued a hold rating and issued a $25.00 target price on shares of Heritage Financial Corporation in a research report on Wednesday, July 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $29.33.

Shares of Heritage Financial Corporation (NASDAQ HFWA) traded down 0.51% during mid-day trading on Wednesday, reaching $29.50. 115,196 shares of the company were exchanged. The firm has a market capitalization of $878.51 million, a PE ratio of 21.07 and a beta of 0.49. Heritage Financial Corporation has a 12 month low of $17.66 and a 12 month high of $29.75. The company’s 50 day moving average price is $26.65 and its 200 day moving average price is $25.52.

Heritage Financial Corporation (NASDAQ:HFWA) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.07. The business had revenue of $44.84 million for the quarter, compared to the consensus estimate of $41.59 million. Heritage Financial Corporation had a net margin of 23.81% and a return on equity of 8.56%. Equities analysts anticipate that Heritage Financial Corporation will post $1.42 earnings per share for the current year.

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In related news, Director John A. Clees sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $27.28, for a total transaction of $54,560.00. Following the transaction, the director now directly owns 49,042 shares of the company’s stock, valued at $1,337,865.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MUFG Americas Holdings Corp grew its position in Heritage Financial Corporation by 1.2% during the second quarter. MUFG Americas Holdings Corp now owns 3,952 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 45 shares in the last quarter. Alps Advisors Inc. grew its position in Heritage Financial Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 20,120 shares of the financial services provider’s stock worth $533,000 after acquiring an additional 52 shares in the last quarter. Legal & General Group Plc grew its position in Heritage Financial Corporation by 4.2% in the second quarter. Legal & General Group Plc now owns 7,369 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 297 shares in the last quarter. Pinnacle Associates Ltd. grew its position in Heritage Financial Corporation by 2.9% in the second quarter. Pinnacle Associates Ltd. now owns 10,600 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 300 shares in the last quarter. Finally, PDT Partners LLC grew its position in Heritage Financial Corporation by 2.1% in the second quarter. PDT Partners LLC now owns 19,290 shares of the financial services provider’s stock worth $511,000 after acquiring an additional 390 shares in the last quarter. 75.92% of the stock is currently owned by hedge funds and other institutional investors.

About Heritage Financial Corporation

Heritage Financial Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its bank subsidiary, Heritage Bank (the Bank). The Bank’s lending activities focus on commercial business lending. The Bank also originates consumer loans, real estate construction and land development loans, and one- to four-family residential loans.

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