BidaskClub Upgrades Heritage Financial (NASDAQ:HFWA) to “Sell”

Heritage Financial (NASDAQ:HFWA) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday, BidAskClub reports.

Several other equities research analysts also recently commented on HFWA. Zacks Investment Research downgraded Heritage Financial from a “hold” rating to a “sell” rating in a report on Tuesday. Janney Montgomery Scott downgraded Heritage Financial from a “buy” rating to a “neutral” rating in a report on Friday, July 26th. Finally, ValuEngine upgraded Heritage Financial from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $34.00.

Shares of NASDAQ HFWA traded up $0.35 during midday trading on Friday, hitting $27.29. 172,179 shares of the stock traded hands, compared to its average volume of 164,471. The company has a market cap of $993.61 million, a PE ratio of 15.51, a P/E/G ratio of 2.12 and a beta of 0.74. Heritage Financial has a one year low of $25.24 and a one year high of $35.63. The business has a 50 day moving average price of $26.67 and a two-hundred day moving average price of $28.64. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.86 and a current ratio of 0.86.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.07). The firm had revenue of $58.10 million for the quarter, compared to the consensus estimate of $59.73 million. Heritage Financial had a net margin of 25.83% and a return on equity of 8.86%. As a group, equities research analysts forecast that Heritage Financial will post 1.81 EPS for the current fiscal year.

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

Large investors have recently made changes to their positions in the stock. Swiss National Bank boosted its position in shares of Heritage Financial by 2.2% during the second quarter. Swiss National Bank now owns 68,668 shares of the financial services provider’s stock valued at $2,028,000 after buying an additional 1,500 shares during the last quarter. Citadel Advisors LLC boosted its position in Heritage Financial by 155.4% in the second quarter. Citadel Advisors LLC now owns 36,895 shares of the financial services provider’s stock worth $1,090,000 after purchasing an additional 22,448 shares during the last quarter. Clearbridge Investments LLC boosted its position in Heritage Financial by 54.9% in the first quarter. Clearbridge Investments LLC now owns 1,907 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 676 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Heritage Financial by 14.2% in the second quarter. JPMorgan Chase & Co. now owns 70,554 shares of the financial services provider’s stock worth $2,049,000 after purchasing an additional 8,750 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Heritage Financial by 1.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 199,801 shares of the financial services provider’s stock worth $5,903,000 after purchasing an additional 2,805 shares during the last quarter. 80.69% of the stock is currently owned by 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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