According to Zacks, “Heritage Financial Corporation, Inc. is a bank holding company. “
Several other brokerages also recently commented on HFWA. Stephens began coverage on Heritage Financial in a research note on Wednesday, March 6th. They set an equal weight rating and a $36.00 target price for the company. BidaskClub upgraded Heritage Financial from a strong sell rating to a sell rating in a research note on Saturday, May 4th. Finally, Sandler O’Neill downgraded Heritage Financial from a buy rating to a hold rating and reduced their target price for the stock from $34.00 to $32.00 in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Heritage Financial currently has a consensus rating of Hold and an average target price of $34.00.
Heritage Financial (NASDAQ:HFWA) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.45 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $57.22 million for the quarter, compared to the consensus estimate of $59.73 million. On average, research analysts expect that Heritage Financial will post 2.01 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.72 annualized dividend and a dividend yield of 2.39%. Heritage Financial’s dividend payout ratio is currently 40.91%.
In related news, Director Brian L. Vance sold 13,621 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 115,630 shares in the company, valued at approximately $3,645,813.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian L. Vance sold 3,885 shares of the business’s stock in a transaction 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 owns 101,011 shares of the company’s stock, valued at $3,105,078.14. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC bought a new stake in Heritage Financial in the 4th quarter valued at $30,000. PNC Financial Services Group Inc. boosted its stake in Heritage Financial by 601.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,228 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 1,053 shares during the period. Paloma Partners Management Co bought a new stake in Heritage Financial in the 4th quarter valued at $206,000. BNP Paribas Arbitrage SA boosted its stake in Heritage Financial by 69,063.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,608 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 7,597 shares during the period. Finally, Piedmont Investment Advisors Inc. boosted its stake in Heritage Financial by 6.6% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 8,482 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 526 shares during the period. Institutional investors and hedge funds own 81.76% 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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