Stephens Forecasts Strong Price Appreciation for Heritage Financial (NASDAQ:HFWA) Stock

Heritage Financial (NASDAQ:HFWA) had its target price lifted by equities researchers at Stephens from $28.00 to $30.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective points to a potential upside of 12.87% from the stock’s previous close.

HFWA has been the topic of a number of other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Heritage Financial in a research report on Thursday. Wall Street Zen upgraded shares of Heritage Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. DA Davidson increased their price objective on shares of Heritage Financial from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods boosted their price target on Heritage Financial from $26.00 to $28.00 and gave the company a “market perform” rating in a report on Monday, September 29th. Finally, Zacks Research lowered Heritage Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Heritage Financial has an average rating of “Hold” and a consensus target price of $30.25.

Heritage Financial Stock Performance

Shares of HFWA stock opened at $26.58 on Monday. Heritage Financial has a 52-week low of $19.84 and a 52-week high of $28.35. The business’s fifty day moving average is $24.42 and its 200 day moving average is $23.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.84 and a current ratio of 0.83. The company has a market capitalization of $902.66 million, a PE ratio of 13.55 and a beta of 0.52.

Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.09. Heritage Financial had a net margin of 20.10% and a return on equity of 8.61%. The company had revenue of $66.35 million during the quarter, compared to analysts’ expectations of $65.95 million. On average, equities research analysts anticipate that Heritage Financial will post 2.09 EPS for the current fiscal year.

Insider Activity at Heritage Financial

In other news, President Bryan Mcdonald bought 19,106 shares of the stock in a transaction on Thursday, November 20th. The stock was bought at an average cost of $22.32 per share, for a total transaction of $426,445.92. Following the completion of the purchase, the president directly owned 31,363 shares in the company, valued at approximately $700,022.16. The trade was a 155.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Heritage Financial

Large investors have recently modified their holdings of the business. Hantz Financial Services Inc. boosted its position in Heritage Financial by 316.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,651 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 1,255 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Heritage Financial by 27,871.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,958 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 1,951 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Heritage Financial by 99.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 1,431 shares during the period. GAMMA Investing LLC increased its stake in shares of Heritage Financial by 53.3% in the 2nd quarter. GAMMA Investing LLC now owns 4,557 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 1,585 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Heritage Financial by 100.5% during the 3rd quarter. CWM LLC now owns 7,657 shares of the financial services provider’s stock worth $185,000 after buying an additional 3,838 shares during the period. Hedge funds and other institutional investors own 78.30% of the company’s stock.

Heritage Financial Company Profile

Heritage Financial Corporation (NASDAQ:HFWA) is a bank holding company headquartered in Spokane, Washington. Through its primary subsidiary, Heritage Bank, the company provides a comprehensive range of banking and financial services to both individual and commercial clients. Heritage Bank’s offerings encompass deposit products, lending solutions, treasury and cash management services, mortgage banking, and wealth management, positioning the organization as a full-service community bank.

The company’s lending portfolio includes commercial real estate loans, agricultural loans, small business administration (SBA) loans, construction and development financing, and a variety of consumer mortgage products.