Heritage Financial Corporation (HFWA) Sets New 12-Month High at $27.95
Shares of Heritage Financial Corporation (NASDAQ:HFWA) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $27.95 and last traded at $27.85, with a volume of 112,924 shares trading hands. The stock had previously closed at $27.80.
A number of research firms have recently issued reports on HFWA. Piper Jaffray Companies set a $29.00 price objective on Heritage Financial Corporation and gave the company a “hold” rating in a research report on Monday, August 14th. Zacks Investment Research cut Heritage Financial Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. ValuEngine upgraded Heritage Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods restated a “hold” rating and set a $27.00 price objective on shares of Heritage Financial Corporation in a research report on Friday, June 2nd. Finally, BidaskClub cut Heritage Financial Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Heritage Financial Corporation presently has a consensus rating of “Hold” and a consensus price target of $28.67.
The company has a market cap of $829.37 million, a price-to-earnings ratio of 19.89 and a beta of 0.49. The company’s 50 day moving average is $26.65 and its 200 day moving average is $25.52.
Heritage Financial Corporation (NASDAQ:HFWA) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.07. The company had revenue of $44.84 million for the quarter, compared to analyst estimates of $41.59 million. Heritage Financial Corporation had a return on equity of 8.56% and a net margin of 23.81%. On average, equities research analysts forecast that Heritage Financial Corporation will post $1.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were paid a dividend of $0.13 per share. The ex-dividend date was Tuesday, August 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.87%. Heritage Financial Corporation’s dividend payout ratio (DPR) is currently 37.14%.
In other Heritage Financial Corporation news, Director John A. Clees sold 2,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $27.28, for a total transaction of $54,560.00. Following the transaction, the director now owns 49,042 shares in the company, valued at approximately $1,337,865.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. MUFG Americas Holdings Corp increased its stake in Heritage Financial Corporation by 1.2% during the 2nd quarter. MUFG Americas Holdings Corp now owns 3,952 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 45 shares during the period. Legal & General Group Plc increased its stake in Heritage Financial Corporation by 4.2% during the 2nd 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 during the period. TFS Capital LLC bought a new position in Heritage Financial Corporation during the 1st quarter worth $210,000. Aperio Group LLC bought a new position in Heritage Financial Corporation during the 2nd quarter worth $217,000. Finally, Susquehanna International Group LLP bought a new position in Heritage Financial Corporation during the 2nd quarter worth $226,000. Hedge funds and other institutional investors own 75.92% of the company’s stock.
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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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