DA Davidson downgraded shares of Heritage Financial (NASDAQ:HFWA) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, Briefing.com Automated Import reports.

Several other equities analysts also recently commented on the stock. Stephens reissued a hold rating and issued a $29.00 price objective on shares of Heritage Financial in a research note on Thursday, October 24th. ValuEngine raised shares of Heritage Financial from a sell rating to a hold rating in a research note on Monday, August 12th. BidaskClub raised shares of Heritage Financial from a strong sell rating to a sell rating in a research note on Saturday, October 19th. Zacks Investment Research raised shares of Heritage Financial from a sell rating to a hold rating in a research note on Friday, November 8th. Finally, Janney Montgomery Scott downgraded shares of Heritage Financial from a buy rating to a neutral rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The stock presently has an average rating of Hold and an average target price of $31.67.

Shares of NASDAQ:HFWA traded down $0.06 on Tuesday, reaching $28.05. 132,900 shares of the company’s stock were exchanged, compared to its average volume of 151,694. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 15.94 and a beta of 0.72. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $27.31 and a 200-day moving average of $28.24. Heritage Financial has a twelve month low of $25.24 and a twelve month high of $35.63.

Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The business had revenue of $58.70 million during the quarter, compared to the consensus estimate of $59.04 million. Heritage Financial had a net margin of 26.72% and a return on equity of 8.67%. As a group, equities research analysts forecast that Heritage Financial will post 1.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Wednesday, November 6th. Heritage Financial’s payout ratio is currently 43.18%.

In other news, COO Bryan Mcdonald sold 4,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $26.67, for a total transaction of $106,680.00. Following the completion of the transaction, the chief operating officer now owns 11,119 shares of the company’s stock, valued at $296,543.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian L. Vance sold 2,274 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $26.82, for a total transaction of $60,988.68. Following the transaction, the director now directly owns 98,737 shares of the company’s stock, valued at approximately $2,648,126.34. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in shares of Heritage Financial by 119.1% during the second quarter. Nisa Investment Advisors LLC now owns 1,205 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 655 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Heritage Financial during the third quarter valued at $134,000. Capital Fund Management S.A. bought a new position in shares of Heritage Financial during the second quarter valued at $219,000. Marshall Wace North America L.P. bought a new position in shares of Heritage Financial during the second quarter valued at $296,000. Finally, Mason Street Advisors LLC raised its stake in Heritage Financial by 13.0% during the third quarter. Mason Street Advisors LLC now owns 12,523 shares of the financial services provider’s stock worth $338,000 after buying an additional 1,438 shares during the last quarter. 79.73% of the stock is 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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