Heritage Financial (NASDAQ:HFWA) PT Raised to $26.00 at Piper Sandler

Heritage Financial (NASDAQ:HFWA) had its price target hoisted by equities research analysts at Piper Sandler from $23.00 to $26.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target would indicate a potential upside of 12.21% from the company’s current price.

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Heritage Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.50.

Heritage Financial Trading Up 0.2 %

HFWA stock traded up $0.05 during midday trading on Monday, hitting $23.17. The stock had a trading volume of 8,951 shares, compared to its average volume of 183,567. Heritage Financial has a 12-month low of $15.50 and a 12-month high of $23.50. The firm has a market cap of $803.77 million, a PE ratio of 17.42 and a beta of 0.54. The company’s 50-day moving average price is $18.43 and its 200 day moving average price is $18.66. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.81 and a quick ratio of 0.80.

Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The business had revenue of $48.63 million during the quarter, compared to analysts’ expectations of $59.87 million. Heritage Financial had a net margin of 14.59% and a return on equity of 7.95%. On average, equities research analysts predict that Heritage Financial will post 1.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heritage Financial

Several hedge funds and other institutional investors have recently bought and sold shares of HFWA. Panagora Asset Management Inc. grew its position in shares of Heritage Financial by 72.3% in the 4th quarter. Panagora Asset Management Inc. now owns 133,523 shares of the financial services provider’s stock worth $2,856,000 after acquiring an additional 56,036 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Heritage Financial in the 1st quarter worth approximately $14,612,000. US Bancorp DE grew its position in shares of Heritage Financial by 212.4% in the 1st quarter. US Bancorp DE now owns 206,776 shares of the financial services provider’s stock worth $4,009,000 after acquiring an additional 140,592 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Heritage Financial by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,733,722 shares of the financial services provider’s stock worth $37,085,000 after acquiring an additional 92,319 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Heritage Financial by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,008,656 shares of the financial services provider’s stock worth $21,575,000 after acquiring an additional 25,971 shares in the last quarter. 78.30% of the stock is currently owned by hedge funds and other institutional investors.

About Heritage Financial

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to small and medium sized businesses and individuals in the United States. It accepts various deposit products, such as noninterest demand deposits, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.