Heritage Financial (HFWA) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Heritage Financial (NASDAQ:HFWA) from a hold rating to a buy rating in a research report sent to investors on Saturday.

A number of other equities research analysts have also recently weighed in on the company. Sandler O’Neill restated a buy rating and issued a $36.00 price target on shares of Heritage Financial in a report on Friday, January 26th. Piper Jaffray Companies restated a hold rating and issued a $33.00 price target on shares of Heritage Financial in a report on Tuesday, January 9th. BidaskClub cut Heritage Financial from a buy rating to a hold rating in a report on Friday, December 29th. Keefe, Bruyette & Woods restated a hold rating and issued a $33.00 price target on shares of Heritage Financial in a report on Friday, December 22nd. Finally, FIG Partners upgraded Heritage Financial from a market-perform rating to an outperform rating in a report on Tuesday, December 12th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $34.60.

Heritage Financial (HFWA) opened at $31.40 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.85 and a current ratio of 0.85. Heritage Financial has a 52-week low of $22.50 and a 52-week high of $33.25. The stock has a market capitalization of $1,068.91, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 1.73 and a beta of 0.50.

Heritage Financial (NASDAQ:HFWA) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. The business had revenue of $46.22 million for the quarter, compared to analyst estimates of $43.74 million. sell-side analysts forecast that Heritage Financial will post 1.81 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.91%. This is a boost from Heritage Financial’s previous quarterly dividend of $0.13. Heritage Financial’s dividend payout ratio is currently 46.88%.

In other Heritage Financial news, Director Brian Charneski sold 2,000 shares of the stock in a transaction 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 in the company, valued at approximately $940,751.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John A. Clees sold 1,000 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $31.07, for a total value of $31,070.00. Following the sale, the director now 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 made changes to their positions in the business. Martin & Co. Inc. TN grew its holdings in Heritage Financial by 4.7% during the 4th quarter. Martin & Co. Inc. TN now owns 64,879 shares of the financial services provider’s stock valued at $1,998,000 after buying an additional 2,885 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in Heritage Financial during the 4th quarter valued at $389,000. Forest Hill Capital LLC grew its holdings in Heritage Financial by 1.5% during the 4th quarter. Forest Hill Capital LLC now owns 389,117 shares of the financial services provider’s stock valued at $11,985,000 after buying an additional 5,800 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Heritage Financial by 0.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 978,324 shares of the financial services provider’s stock valued at $30,133,000 after buying an additional 8,011 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Heritage Financial by 87.7% during the 4th quarter. Deutsche Bank AG now owns 126,917 shares of the financial services provider’s stock valued at $3,907,000 after buying an additional 59,292 shares during the last quarter. Hedge funds and other institutional investors own 73.43% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Heritage Financial (NASDAQ:HFWA)

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