Several other brokerages have also recently issued reports on HFWA. Janney Montgomery Scott cut shares of Heritage Financial from a “buy” rating to a “neutral” rating in a report on Friday, July 26th. BidaskClub cut shares of Heritage Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. Sandler O’Neill cut shares of Heritage Financial from a “buy” rating to a “hold” rating and dropped their price target for the stock from $34.00 to $32.00 in a research note on Friday, April 26th. Finally, Zacks Investment Research upgraded shares of Heritage Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Heritage Financial currently has an average rating of “Hold” and an average price target of $34.00.
HFWA stock traded down $0.13 on Monday, hitting $27.15. The company had a trading volume of 180,441 shares, compared to its average volume of 124,773. Heritage Financial has a 12-month low of $26.00 and a 12-month high of $37.40. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $28.66. The company has a market capitalization of $1.01 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 2.10 and a beta of 0.72.
Heritage Financial (NASDAQ:HFWA) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.07). Heritage Financial had a return on equity of 8.86% and a net margin of 25.83%. The company had revenue of $58.10 million during the quarter, compared to analysts’ expectations of $59.73 million. Analysts anticipate that Heritage Financial will post 1.85 earnings per share for the current year.
In other news, Director Lisa Banner sold 976 shares of Heritage Financial stock in a transaction on Friday, June 14th. The shares were sold at an average price of $29.25, for a total transaction of $28,548.00. Following the transaction, the director now owns 731 shares in the company, valued at approximately $21,381.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of Heritage Financial by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 472,533 shares of the financial services provider’s stock valued at $13,959,000 after buying an additional 2,970 shares in the last quarter. Capital Fund Management S.A. purchased a new position in shares of Heritage Financial during the 2nd quarter valued at $219,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Heritage Financial by 1.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 199,801 shares of the financial services provider’s stock valued at $5,903,000 after buying an additional 2,805 shares in the last quarter. Granite Investment Partners LLC lifted its stake in shares of Heritage Financial by 23.1% during the 2nd quarter. Granite Investment Partners LLC now owns 44,512 shares of the financial services provider’s stock valued at $1,315,000 after buying an additional 8,363 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Heritage Financial by 14.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 70,554 shares of the financial services provider’s stock valued at $2,049,000 after buying an additional 8,750 shares in the last quarter. Institutional investors and hedge funds own 81.25% of the company’s stock.
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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