Heritage Financial (HFWA) Downgraded by BidaskClub
BidaskClub downgraded shares of Heritage Financial (NASDAQ:HFWA) from a buy rating to a hold rating in a report released on Saturday morning.
Other research analysts have also recently issued reports about the stock. FIG Partners upgraded shares of Heritage Financial from a market-perform rating to an outperform rating in a report on Tuesday, December 12th. Piper Jaffray Companies reiterated a hold rating and set a $33.00 price objective on shares of Heritage Financial in a report on Tuesday, January 9th. ValuEngine upgraded shares of Heritage Financial from a hold rating to a buy rating in a report on Sunday, December 31st. Keefe, Bruyette & Woods restated a hold rating and set a $33.00 price target on shares of Heritage Financial in a report on Friday, December 22nd. Finally, Sandler O’Neill restated a buy rating and set a $36.00 price target on shares of Heritage Financial in a report on Friday, January 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $34.60.
Shares of Heritage Financial (NASDAQ:HFWA) traded up $0.38 during midday trading on Friday, hitting $30.10. 194,190 shares of the stock were exchanged, compared to its average volume of 186,928. The firm has a market capitalization of $1,023.79, a PE ratio of 23.52, a P/E/G ratio of 1.66 and a beta of 0.52. Heritage Financial has a 52-week low of $22.50 and a 52-week high of $33.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.85 and a quick ratio of 0.85.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, February 6th. This is a boost from Heritage Financial’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 1.99%. Heritage Financial’s payout ratio is 46.88%.
In related news, Director Brian Charneski sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $31.78, for a total transaction of $63,560.00. Following the transaction, the director now directly owns 29,602 shares in the company, valued at $940,751.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC boosted its holdings in Heritage Financial by 2.3% during the second quarter. Parametric Portfolio Associates LLC now owns 42,284 shares of the financial services provider’s stock worth $1,121,000 after purchasing an additional 949 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Heritage Financial by 11.3% during the second quarter. Voya Investment Management LLC now owns 16,922 shares of the financial services provider’s stock worth $448,000 after purchasing an additional 1,715 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Heritage Financial by 0.3% during the third quarter. Schroder Investment Management Group now owns 637,262 shares of the financial services provider’s stock worth $18,895,000 after purchasing an additional 2,050 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Heritage Financial by 5.5% during the third quarter. New York State Common Retirement Fund now owns 46,323 shares of the financial services provider’s stock worth $1,367,000 after purchasing an additional 2,408 shares during the last quarter. Finally, Martin & Co. Inc. TN raised its position in Heritage Financial by 4.7% in the fourth quarter. Martin & Co. Inc. TN now owns 64,879 shares of the financial services provider’s stock worth $1,998,000 after acquiring an additional 2,885 shares during the period. Institutional investors and hedge funds own 73.43% of the company’s stock.
Heritage Financial Company Profile
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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