BidaskClub downgraded shares of Heritage Financial (NASDAQ:HFWA) from a sell rating to a strong sell rating in a research report report published on Tuesday morning, BidAskClub reports.

Several other brokerages have also weighed in on HFWA. Zacks Investment Research lowered Heritage Financial from a hold rating to a sell rating in a research report on Tuesday, March 5th. Stephens began coverage on Heritage Financial in a report on Wednesday, March 6th. They set an equal weight rating and a $36.00 price objective on the stock. Finally, Sandler O’Neill lowered Heritage Financial from a buy rating to a hold rating and lowered their price objective for the company from $34.00 to $32.00 in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $34.00.

Shares of HFWA stock opened at $29.22 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. Heritage Financial has a fifty-two week low of $27.81 and a fifty-two week high of $37.40. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 2.08 and a beta of 0.74.

Heritage Financial (NASDAQ:HFWA) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.04). Heritage Financial had a return on equity of 8.77% and a net margin of 25.04%. The firm had revenue of $57.22 million during the quarter, compared to analyst estimates of $59.73 million. Equities research analysts expect that Heritage Financial will post 1.99 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Tuesday, May 7th. Heritage Financial’s dividend payout ratio is 40.91%.

In other Heritage Financial news, Director Brian L. Vance sold 13,621 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $31.53, for a total value of $429,470.13. Following the sale, the director now owns 115,630 shares of the company’s stock, valued at approximately $3,645,813.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian L. Vance sold 3,885 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $30.74, for a total value of $119,424.90. Following the completion of the sale, the director now directly owns 101,011 shares in the company, valued at approximately $3,105,078.14. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HFWA. Jennison Associates LLC grew its holdings in Heritage Financial by 61.4% in the 4th quarter. Jennison Associates LLC now owns 388,572 shares of the financial services provider’s stock valued at $11,548,000 after buying an additional 147,795 shares during the last quarter. OppenheimerFunds Inc. grew its holdings in Heritage Financial by 33.6% in the 1st quarter. OppenheimerFunds Inc. now owns 537,593 shares of the financial services provider’s stock valued at $16,202,000 after buying an additional 135,264 shares during the last quarter. BlackRock Inc. grew its holdings in Heritage Financial by 1.7% in the 4th quarter. BlackRock Inc. now owns 5,227,934 shares of the financial services provider’s stock valued at $155,374,000 after buying an additional 86,549 shares during the last quarter. Millennium Management LLC grew its holdings in Heritage Financial by 64.5% in the 4th quarter. Millennium Management LLC now owns 213,281 shares of the financial services provider’s stock valued at $6,339,000 after buying an additional 83,648 shares during the last quarter. Finally, Context BH Capital Management LP acquired a new stake in Heritage Financial in the 1st quarter valued at approximately $1,264,000. 81.44% of the stock is currently owned by hedge funds and other institutional investors.

About Heritage Financial

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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