Heritage Financial’s (NASDAQ:HFWA) “Hold” Rating Reaffirmed at Piper Jaffray Companies

Heritage Financial (NASDAQ:HFWA)‘s stock had its “hold” rating reaffirmed by research analysts at Piper Jaffray Companies in a report released on Tuesday, January 9th. They currently have a $33.00 price target on the financial services provider’s stock. Piper Jaffray Companies’ target price points to a potential upside of 3.61% from the company’s current price.

Several other brokerages have also issued reports on HFWA. Zacks Investment Research upgraded Heritage Financial from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Wednesday, September 27th. ValuEngine upgraded Heritage Financial from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $33.00 price target on shares of Heritage Financial in a report on Friday, December 22nd. BidaskClub lowered Heritage Financial from a “buy” rating to a “hold” rating in a report on Friday, December 29th. Finally, DA Davidson boosted their price target on Heritage Financial from $35.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $34.25.

Heritage Financial (HFWA) traded up $0.30 during trading hours on Tuesday, reaching $31.85. The company’s stock had a trading volume of 192,034 shares, compared to its average volume of 125,709. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $945.76, a PE ratio of 22.91, a PEG ratio of 1.86 and a beta of 0.47. Heritage Financial has a twelve month low of $22.50 and a twelve month high of $33.25.

Heritage Financial (NASDAQ:HFWA) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The firm had revenue of $43.39 million for the quarter, compared to analysts’ expectations of $42.85 million. Heritage Financial had a return on equity of 8.42% and a net margin of 23.48%. research analysts forecast that Heritage Financial will post 1.42 EPS for the current year.

In other news, CFO Donald Hinson sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $31.22, for a total transaction of $31,220.00. Following the transaction, the chief financial officer now directly owns 33,288 shares of the company’s stock, valued at $1,039,251.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Brian Charneski sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $31.78, for a total value of $63,560.00. Following the transaction, the director now directly owns 29,602 shares in the company, valued at $940,751.56. The disclosure for this sale can be found here. Insiders sold 21,636 shares of company stock valued at $667,583 in the last three months. 2.70% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its holdings in Heritage Financial by 12.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 133,468 shares of the financial services provider’s stock valued at $4,111,000 after purchasing an additional 14,390 shares during the last quarter. Bank of Montreal Can boosted its holdings in Heritage Financial by 52.9% in the fourth quarter. Bank of Montreal Can now owns 81,482 shares of the financial services provider’s stock valued at $2,510,000 after purchasing an additional 28,176 shares during the last quarter. Thomson Horstmann & Bryant Inc. boosted its holdings in Heritage Financial by 5.7% in the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 466,560 shares of the financial services provider’s stock valued at $14,370,000 after purchasing an additional 25,259 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Heritage Financial by 65.7% in the third quarter. GSA Capital Partners LLP now owns 40,439 shares of the financial services provider’s stock valued at $1,193,000 after purchasing an additional 16,041 shares during the last quarter. Finally, Martin & Co. Inc. TN boosted its holdings in Heritage Financial by 46.2% in the third quarter. Martin & Co. Inc. TN now owns 61,994 shares of the financial services provider’s stock valued at $1,829,000 after purchasing an additional 19,588 shares during the last quarter. 78.13% of the stock is currently owned by hedge funds and other institutional investors.

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Heritage Financial Company Profile

Heritage Financial Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its bank subsidiary, Heritage Bank (the Bank). The Bank’s lending activities focus on commercial business lending. The Bank also originates consumer loans, real estate construction and land development loans, and one- to four-family residential loans.

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