Zacks Investment Research upgraded shares of Heritage Financial Corporation (NASDAQ:HFWA) from a hold rating to a buy rating in a research note published on Friday morning. They currently have $30.00 price objective on the financial services provider’s stock.

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

Several other equities analysts also recently weighed in on HFWA. ValuEngine upgraded Heritage Financial Corporation from a hold rating to a buy rating in a research report on Friday, June 2nd. Piper Jaffray Companies restated a hold rating and issued a $25.00 target price on shares of Heritage Financial Corporation in a research report on Wednesday, July 12th. BidaskClub downgraded Heritage Financial Corporation from a buy rating to a hold rating in a research report on Tuesday, July 11th. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $27.00 target price on shares of Heritage Financial Corporation in a research report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Heritage Financial Corporation currently has an average rating of Hold and an average price target of $27.33.

Heritage Financial Corporation (NASDAQ:HFWA) traded up 0.18% during mid-day trading on Friday, reaching $27.25. The company’s stock had a trading volume of 15,295 shares. The company has a market cap of $810.85 million, a PE ratio of 19.46 and a beta of 0.47. The firm’s 50 day moving average is $26.25 and its 200-day moving average is $25.23. Heritage Financial Corporation has a 12-month low of $16.89 and a 12-month high of $27.70.

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, beating 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 return on equity of 8.60% and a net margin of 23.81%. Equities analysts anticipate that Heritage Financial Corporation will post $1.41 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be issued a $0.13 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.91%. Heritage Financial Corporation’s dividend payout ratio is presently 37.14%.

In related news, Director John A. Clees sold 2,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $27.28, for a total value of $54,560.00. Following the completion of the sale, the director now owns 49,042 shares of the company’s stock, valued at $1,337,865.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.70% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the stock. Stifel Financial Corp boosted its stake in Heritage Financial Corporation by 13.7% in the first quarter. Stifel Financial Corp now owns 129,115 shares of the financial services provider’s stock valued at $3,196,000 after buying an additional 15,604 shares in the last quarter. Thomson Horstmann & Bryant Inc. boosted its stake in Heritage Financial Corporation by 12.0% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 547,680 shares of the financial services provider’s stock valued at $13,555,000 after buying an additional 58,840 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Heritage Financial Corporation by 129.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,293 shares of the financial services provider’s stock valued at $111,000 after buying an additional 2,419 shares in the last quarter. Swiss National Bank boosted its stake in Heritage Financial Corporation by 3.6% in the first quarter. Swiss National Bank now owns 49,368 shares of the financial services provider’s stock valued at $1,222,000 after buying an additional 1,700 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in Heritage Financial Corporation by 21.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 24,154 shares of the financial services provider’s stock valued at $598,000 after buying an additional 4,257 shares in the last quarter. 77.41% of the stock is 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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