Heritage Financial (HFWA) Raised to “Buy” at Zacks Investment Research

Heritage Financial (NASDAQ:HFWA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm presently has a $36.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.21% from the company’s previous close.

According to Zacks, “Heritage Financial Corporation, Inc. is a bank holding company. “

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HFWA has been the topic of a number of other reports. Sandler O’Neill reiterated a “buy” rating and issued a $35.50 price objective on shares of Heritage Financial in a research note on Friday, January 19th. BidaskClub lowered Heritage Financial from a “buy” rating to a “hold” rating in a research note on Saturday, March 3rd. ValuEngine upgraded Heritage Financial from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Piper Jaffray reiterated a “hold” rating and issued a $33.00 price objective on shares of Heritage Financial in a research note on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods upgraded Heritage Financial from a “market perform” rating to an “outperform” rating in a research note on Monday, March 12th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $34.80.



Heritage Financial stock opened at $31.80 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $1,074.82, a PE ratio of 21.49, a price-to-earnings-growth ratio of 1.77 and a beta of 0.49. Heritage Financial has a 52 week low of $23.00 and a 52 week high of $33.25.

Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates 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. Heritage Financial had a return on equity of 8.86% and a net margin of 21.16%. analysts anticipate that Heritage Financial will post 1.78 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its stake in Heritage Financial by 5.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 119,078 shares of the financial services provider’s stock valued at $3,513,000 after acquiring an additional 6,302 shares during the period. The Manufacturers Life Insurance Company increased its stake in Heritage Financial by 6.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 740,098 shares of the financial services provider’s stock valued at $22,795,000 after acquiring an additional 43,168 shares during the period. Forest Hill Capital LLC increased its stake in Heritage Financial by 1.5% during the fourth quarter. Forest Hill Capital LLC now owns 389,117 shares of the financial services provider’s stock valued at $11,985,000 after acquiring an additional 5,800 shares during the period. Allianz Asset Management GmbH bought a new position in Heritage Financial during the fourth quarter valued at about $2,768,000. Finally, Wells Fargo & Company MN increased its stake in Heritage Financial by 27.2% during the fourth quarter. Wells Fargo & Company MN now owns 163,497 shares of the financial services provider’s stock valued at $5,034,000 after acquiring an additional 34,948 shares during the period. Hedge funds and other institutional investors own 70.89% of the company’s stock.

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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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