Heritage Financial Corporation (NASDAQ:HFWA) Given Average Rating of “Hold” by Brokerages

Heritage Financial Corporation (NASDAQ:HFWA) has received an average recommendation of “Hold” from the five analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $29.3333.

Several equities analysts recently commented on the company. DA Davidson set a $29.00 target price on Heritage Financial in a report on Monday, September 29th. Wall Street Zen upgraded Heritage Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of Heritage Financial in a research note on Wednesday, October 8th. Zacks Research lowered shares of Heritage Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Heritage Financial from $26.00 to $28.00 and gave the stock a “market perform” rating in a report on Monday, September 29th.

Insider Transactions at Heritage Financial

In other news, President Bryan Mcdonald acquired 19,106 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were bought at an average price of $22.32 per share, with a total value of $426,445.92. Following the completion of the acquisition, the president owned 31,363 shares in the company, valued at $700,022.16. This trade represents a 155.88% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Heritage Financial

A number of large investors have recently made changes to their positions in HFWA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Heritage Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,060 shares of the financial services provider’s stock worth $488,000 after buying an additional 881 shares during the period. Empowered Funds LLC increased its holdings in shares of Heritage Financial by 4.2% in the 1st quarter. Empowered Funds LLC now owns 123,798 shares of the financial services provider’s stock valued at $3,012,000 after acquiring an additional 4,947 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Heritage Financial by 7.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 78,130 shares of the financial services provider’s stock valued at $1,901,000 after acquiring an additional 5,417 shares during the period. Jane Street Group LLC raised its position in Heritage Financial by 437.3% in the 1st quarter. Jane Street Group LLC now owns 107,482 shares of the financial services provider’s stock valued at $2,615,000 after purchasing an additional 87,479 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Heritage Financial during the 1st quarter worth $613,000. 78.30% of the stock is owned by institutional investors and hedge funds.

Heritage Financial Stock Down 1.7%

Shares of NASDAQ:HFWA opened at $24.13 on Friday. Heritage Financial has a fifty-two week low of $19.84 and a fifty-two week high of $26.92. The firm’s 50 day moving average price is $23.81 and its 200 day moving average price is $23.92. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock has a market cap of $819.45 million, a price-to-earnings ratio of 14.62 and a beta of 0.52.

Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. The business had revenue of $65.70 million for the quarter, compared to analyst estimates of $65.25 million. Heritage Financial had a net margin of 17.27% and a return on equity of 8.21%. As a group, equities research analysts predict that Heritage Financial will post 2.09 earnings per share for the current fiscal year.

Heritage Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Wednesday, November 5th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.0%. The ex-dividend date was Wednesday, November 5th. Heritage Financial’s dividend payout ratio (DPR) is currently 58.18%.

About Heritage Financial

Heritage Financial Corporation (NASDAQ:HFWA) is a bank holding company headquartered in Spokane, Washington. Through its primary subsidiary, Heritage Bank, the company provides a comprehensive range of banking and financial services to both individual and commercial clients. Heritage Bank’s offerings encompass deposit products, lending solutions, treasury and cash management services, mortgage banking, and wealth management, positioning the organization as a full-service community bank.

The company’s lending portfolio includes commercial real estate loans, agricultural loans, small business administration (SBA) loans, construction and development financing, and a variety of consumer mortgage products.