ValuEngine cut shares of Heritage Financial (NASDAQ:HFWA) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

A number of other analysts have also weighed in on the company. BidaskClub lowered Heritage Financial from a hold rating to a sell rating in a research note on Tuesday. Zacks Investment Research upgraded Heritage Financial from a sell rating to a hold rating in a research note on Thursday, November 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $36.25.

NASDAQ:HFWA traded up $0.20 during mid-day trading on Thursday, reaching $32.74. The company’s stock had a trading volume of 774 shares, compared to its average volume of 108,712. Heritage Financial has a 12-month low of $28.46 and a 12-month high of $37.40. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 2.64 and a beta of 0.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84.

Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The business had revenue of $59.18 million during the quarter, compared to the consensus estimate of $57.63 million. Heritage Financial had a return on equity of 8.92% and a net margin of 20.10%. As a group, research analysts predict that Heritage Financial will post 1.79 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th were paid a $0.17 dividend. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, November 6th. This represents a $0.68 dividend on an annualized basis and a yield of 2.08%. Heritage Financial’s dividend payout ratio (DPR) is presently 45.95%.

In other Heritage Financial news, Director Lisa Banner sold 1,326 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $33.44, for a total value of $44,341.44. Following the completion of the sale, the director now owns 2,387 shares of the company’s stock, valued at $79,821.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Brian L. Vance sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $34.74, for a total value of $173,700.00. Following the completion of the sale, the director now directly owns 128,313 shares of the company’s stock, valued at approximately $4,457,593.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,326 shares of company stock worth $390,491. Insiders own 2.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Heritage Financial by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,896,237 shares of the financial services provider’s stock valued at $66,652,000 after buying an additional 86,143 shares during the period. Legal & General Group Plc boosted its position in shares of Heritage Financial by 24.4% in the 3rd quarter. Legal & General Group Plc now owns 71,455 shares of the financial services provider’s stock valued at $2,503,000 after purchasing an additional 14,031 shares during the period. Rehmann Capital Advisory Group boosted its position in shares of Heritage Financial by 3,375.6% in the 3rd quarter. Rehmann Capital Advisory Group now owns 63,395 shares of the financial services provider’s stock valued at $1,803,000 after purchasing an additional 61,571 shares during the period. Teachers Advisors LLC boosted its position in shares of Heritage Financial by 10.7% in the 3rd quarter. Teachers Advisors LLC now owns 71,360 shares of the financial services provider’s stock valued at $2,508,000 after purchasing an additional 6,885 shares during the period. Finally, MetLife Investment Advisors LLC lifted its position in Heritage Financial by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 24,479 shares of the financial services provider’s stock worth $860,000 after acquiring an additional 8,702 shares during the period. 84.18% of the stock is currently owned by institutional investors.

Heritage Financial Company Profile

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to businesses and individuals in the United States. The company accepts various deposit products, such as noninterest demand accounts, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.

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