Heritage Financial Corp (NASDAQ:HFWA) Given Average Rating of “Hold” by Brokerages

Shares of Heritage Financial Corp (NASDAQ:HFWA) have received a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $29.00.

HFWA has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Heritage Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 7th. BidaskClub lowered shares of Heritage Financial from a “hold” rating to a “sell” rating in a report on Friday, June 12th.

In other Heritage Financial news, CEO Jeffrey J. Deuel bought 5,391 shares of Heritage Financial stock in a transaction on Friday, May 8th. The shares were bought at an average cost of $18.55 per share, for a total transaction of $100,003.05. Following the acquisition, the chief executive officer now directly owns 39,351 shares in the company, valued at $729,961.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of Heritage Financial by 7.6% in the 1st quarter. State Street Corp now owns 1,300,907 shares of the financial services provider’s stock valued at $26,018,000 after purchasing an additional 92,188 shares during the last quarter. Royal Bank of Canada increased its position in shares of Heritage Financial by 6.7% in the 1st quarter. Royal Bank of Canada now owns 257,851 shares of the financial services provider’s stock valued at $5,157,000 after purchasing an additional 16,232 shares during the last quarter. State of Tennessee Treasury Department increased its position in shares of Heritage Financial by 8.9% in the 1st quarter. State of Tennessee Treasury Department now owns 12,194 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 1,000 shares during the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of Heritage Financial in the 1st quarter valued at approximately $118,000. Finally, Invesco Ltd. increased its position in shares of Heritage Financial by 8.6% in the 1st quarter. Invesco Ltd. now owns 1,332,268 shares of the financial services provider’s stock valued at $26,645,000 after purchasing an additional 105,804 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

NASDAQ:HFWA traded up $0.99 on Tuesday, hitting $19.83. The stock had a trading volume of 263,300 shares, compared to its average volume of 192,562. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $676.14 million, a price-to-earnings ratio of 11.60 and a beta of 0.68. The company has a fifty day moving average price of $18.51 and a two-hundred day moving average price of $22.56. Heritage Financial has a 1-year low of $14.65 and a 1-year high of $30.15.

Heritage Financial (NASDAQ:HFWA) last posted its earnings results on Thursday, April 30th. The financial services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The company had revenue of $58.04 million for the quarter, compared to analyst estimates of $55.46 million. Heritage Financial had a net margin of 25.11% and a return on equity of 7.88%. As a group, analysts anticipate that Heritage Financial will post 1.4 earnings per share for the current year.

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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