Zacks Investment Research upgraded shares of Heritage Financial (NASDAQ:HFWA) from a sell rating to a hold rating in a report released on Wednesday.
According to Zacks, “Heritage Financial Corporation, Inc. is a bank holding company. “
A number of other equities analysts have also recently weighed in on HFWA. ValuEngine raised shares of Heritage Financial from a hold rating to a buy rating in a research report on Friday, November 16th. BidaskClub raised shares of Heritage Financial from a sell rating to a hold rating in a research report on Tuesday, November 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $38.00.
NASDAQ:HFWA opened at $33.07 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $1.21 billion, a P/E ratio of 18.79, a P/E/G ratio of 2.23 and a beta of 0.72. Heritage Financial has a fifty-two week low of $27.98 and a fifty-two week high of $37.40.
Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings data on Thursday, January 24th. The financial services provider reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.03). The company had revenue of $59.73 million for the quarter, compared to analysts’ expectations of $59.40 million. Heritage Financial had a return on equity of 8.82% and a net margin of 22.94%. As a group, equities analysts forecast that Heritage Financial will post 2.1 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 21st. Investors of record on Thursday, February 7th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, February 6th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.18%. This is a boost from Heritage Financial’s previous quarterly dividend of $0.17. Heritage Financial’s dividend payout ratio (DPR) is presently 40.91%.
In other Heritage Financial news, CFO Donald Hinson sold 3,268 shares of the stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $31.60, for a total transaction of $103,268.80. Following the sale, the chief financial officer now directly owns 30,625 shares in the company, valued at approximately $967,750. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.80% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Quantamental Technologies LLC acquired a new stake in Heritage Financial during the 4th quarter worth approximately $30,000. PNC Financial Services Group Inc. lifted its holdings in Heritage Financial by 601.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,228 shares of the financial services provider’s stock worth $36,000 after buying an additional 1,053 shares in the last quarter. Paloma Partners Management Co acquired a new stake in Heritage Financial during the 4th quarter worth approximately $206,000. Teachers Retirement System of The State of Kentucky acquired a new stake in Heritage Financial during the 3rd quarter worth approximately $228,000. Finally, Ontario Teachers Pension Plan Board acquired a new stake in Heritage Financial during the 3rd quarter worth approximately $264,000. Institutional investors own 82.15% of the company’s stock.
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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