Heritage Financial Corp (HFWA) Given Consensus Rating of “Buy” by Brokerages
Shares of Heritage Financial Corp (NASDAQ:HFWA) have earned an average recommendation of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $34.60.
HFWA has been the topic of several research reports. DA Davidson upped their target price on Heritage Financial from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th. Sandler O’Neill reaffirmed a “buy” rating and issued a $35.50 target price on shares of Heritage Financial in a research report on Friday, January 19th. Zacks Investment Research raised Heritage Financial from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Monday, October 30th. BidaskClub downgraded Heritage Financial from a “buy” rating to a “hold” rating in a research report on Saturday, December 16th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $33.00 target price on shares of Heritage Financial in a research report on Friday, December 22nd.
Shares of Heritage Financial (NASDAQ HFWA) opened at $30.20 on Thursday. Heritage Financial has a 52 week low of $22.50 and a 52 week high of $33.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $999.12, a P/E ratio of 23.59, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th will be given a $0.15 dividend. This is an increase from Heritage Financial’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, February 6th. This represents a $0.60 annualized dividend and a dividend yield of 1.99%. Heritage Financial’s dividend payout ratio is presently 46.88%.
In related news, Director Brian Charneski sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $31.78, for a total transaction of $63,560.00. Following the sale, the director now owns 29,602 shares of the company’s stock, valued at $940,751.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Clees sold 1,000 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $31.07, for a total value of $31,070.00. Following the sale, the director now directly owns 46,042 shares in the company, valued at approximately $1,430,524.94. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.
A number of large investors have recently modified their holdings of HFWA. Alliancebernstein L.P. grew its position in Heritage Financial by 598.1% during the fourth quarter. Alliancebernstein L.P. now owns 853,510 shares of the financial services provider’s stock worth $26,288,000 after buying an additional 731,242 shares in the last quarter. Cardinal Capital Management LLC CT grew its position in Heritage Financial by 1,407.6% during the fourth quarter. Cardinal Capital Management LLC CT now owns 288,247 shares of the financial services provider’s stock worth $8,878,000 after buying an additional 269,127 shares in the last quarter. Bank of New York Mellon Corp grew its position in Heritage Financial by 41.7% during the third quarter. Bank of New York Mellon Corp now owns 656,280 shares of the financial services provider’s stock worth $19,360,000 after buying an additional 193,027 shares in the last quarter. American Century Companies Inc. acquired a new stake in Heritage Financial during the fourth quarter worth approximately $5,060,000. Finally, Dimensional Fund Advisors LP grew its position in Heritage Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,619,714 shares of the financial services provider’s stock worth $42,923,000 after buying an additional 110,898 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.
About Heritage Financial
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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