ValuEngine upgraded shares of Heritage Financial (NASDAQ:HFWA) from a hold rating to a buy rating in a research report report published on Saturday, February 17th.
Other research analysts have also issued reports about the company. FIG Partners raised Heritage Financial from a market-perform rating to an outperform rating in a report on Tuesday, December 12th. Piper Jaffray Companies reissued a hold rating and issued a $33.00 price objective on shares of Heritage Financial in a report on Tuesday, January 9th. BidaskClub lowered Heritage Financial from a buy rating to a hold rating in a report on Friday, December 29th. Sandler O’Neill reissued a buy rating and issued a $36.00 price objective on shares of Heritage Financial in a report on Friday, January 26th. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $33.00 price objective on shares of Heritage Financial in a report on Friday, December 22nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $34.60.
Shares of Heritage Financial (HFWA) traded down $0.45 during trading hours on Friday, reaching $31.70. The company had a trading volume of 250,238 shares, compared to its average volume of 201,699. Heritage Financial has a 12 month low of $22.50 and a 12 month high of $33.25. The firm has a market cap of $1,095.23, a price-to-earnings ratio of 24.77, a P/E/G ratio of 1.77 and a beta of 0.52. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.22.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.89%. This is an increase from Heritage Financial’s previous quarterly dividend of $0.13. Heritage Financial’s dividend payout ratio is currently 46.88%.
Several institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of Heritage Financial in the third quarter valued at approximately $131,000. Macquarie Group Ltd. acquired a new stake in shares of Heritage Financial in the third quarter valued at approximately $289,000. Teacher Retirement System of Texas acquired a new stake in shares of Heritage Financial in the fourth quarter valued at approximately $314,000. MetLife Investment Advisors LLC acquired a new stake in shares of Heritage Financial in the fourth quarter valued at approximately $389,000. Finally, Voya Investment Management LLC increased its holdings in shares of Heritage Financial by 11.3% in the second quarter. Voya Investment Management LLC now owns 16,922 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 1,715 shares during the last quarter. 70.94% of the stock is owned by institutional investors and hedge funds.
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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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