Heritage Financial Corporation (NASDAQ:HFWA) – Analysts at FIG Partners increased their FY2017 earnings per share estimates for Heritage Financial Corporation in a research note issued on Thursday. FIG Partners analyst T. Coffey now forecasts that the financial services provider will post earnings of $1.39 per share for the year, up from their prior estimate of $1.35. FIG Partners also issued estimates for Heritage Financial Corporation’s Q3 2018 earnings at $0.41 EPS and Q4 2018 earnings at $0.45 EPS.
A number of other analysts have also issued reports on HFWA. Piper Jaffray Companies lowered their target price on shares of Heritage Financial Corporation from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, April 17th. Zacks Investment Research lowered shares of Heritage Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. ValuEngine raised shares of Heritage Financial Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $27.00 target price on shares of Heritage Financial Corporation in a research note on Friday, June 2nd. Finally, BidaskClub lowered shares of Heritage Financial Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Heritage Financial Corporation has a consensus rating of “Hold” and a consensus price target of $27.33.
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Shares of Heritage Financial Corporation (NASDAQ HFWA) traded up 0.55% on Monday, reaching $27.35. 10,791 shares of the company’s stock traded hands. The stock has a 50-day moving average of $26.25 and a 200 day moving average of $25.23. Heritage Financial Corporation has a 12-month low of $16.89 and a 12-month high of $27.70. The firm has a market cap of $813.83 million, a P/E ratio of 19.54 and a beta of 0.47.
Heritage Financial Corporation (NASDAQ:HFWA) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.07. Heritage Financial Corporation had a net margin of 23.81% and a return on equity of 8.60%. The business had revenue of $44.84 million during the quarter, compared to analyst estimates of $41.59 million.
A number of institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in shares of Heritage Financial Corporation by 129.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,293 shares of the financial services provider’s stock worth $111,000 after buying an additional 2,419 shares in the last quarter. TFS Capital LLC purchased a new position in shares of Heritage Financial Corporation during the first quarter worth approximately $210,000. Aperio Group LLC purchased a new position in shares of Heritage Financial Corporation during the second quarter worth approximately $217,000. Parkwood LLC increased its position in shares of Heritage Financial Corporation by 14.8% in the second quarter. Parkwood LLC now owns 9,478 shares of the financial services provider’s stock worth $251,000 after buying an additional 1,225 shares in the last quarter. Finally, American International Group Inc. increased its position in shares of Heritage Financial Corporation by 7.0% in the first quarter. American International Group Inc. now owns 18,138 shares of the financial services provider’s stock worth $449,000 after buying an additional 1,179 shares in the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.
In related news, Director John A. Clees sold 2,000 shares of Heritage Financial Corporation stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $27.28, for a total value of $54,560.00. Following the completion of the sale, the director now directly owns 49,042 shares in the company, valued at $1,337,865.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be issued a $0.13 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.91%. Heritage Financial Corporation’s payout ratio is currently 37.14%.
About Heritage Financial Corporation
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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