Heritage Financial (HFWA) Receives “Hold” Rating from Piper Jaffray Companies

Piper Jaffray Companies reiterated their hold rating on shares of Heritage Financial (NASDAQ:HFWA) in a research note published on Tuesday. The brokerage currently has a $33.00 price target on the financial services provider’s stock.

A number of other analysts also recently issued reports on HFWA. ValuEngine raised shares of Heritage Financial from a hold rating to a buy rating in a report on Sunday, December 31st. Zacks Investment Research raised shares of Heritage Financial from a hold rating to a buy rating and set a $32.00 price target on the stock in a report on Wednesday, September 27th. BidaskClub downgraded shares of Heritage Financial from a buy rating to a hold rating in a report on Friday, December 29th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $33.00 price target on shares of Heritage Financial in a report on Friday, December 22nd. Finally, DA Davidson raised their price target on shares of Heritage Financial from $35.00 to $36.00 and gave the company a buy rating in a report on Tuesday, November 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Heritage Financial currently has a consensus rating of Buy and an average price target of $34.25.

Shares of Heritage Financial (NASDAQ:HFWA) traded up $0.15 during mid-day trading on Tuesday, reaching $31.05. 91,496 shares of the company traded hands, compared to its average volume of 164,548. Heritage Financial has a one year low of $22.50 and a one year high of $33.25. The stock has a market cap of $929.30, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 1.85 and a beta of 0.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.27.

Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. Heritage Financial had a net margin of 23.48% and a return on equity of 8.42%. The company had revenue of $43.39 million for the quarter, compared to the consensus estimate of $42.85 million. analysts anticipate that Heritage Financial will post 1.42 EPS for the current year.

In other news, Director John A. Clees sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $30.01, for a total transaction of $30,010.00. Following the sale, the director now owns 47,042 shares of the company’s stock, valued at approximately $1,411,730.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anthony Pickering sold 11,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $30.76, for a total transaction of $338,360.00. Following the sale, the director now directly owns 48,085 shares in the company, valued at approximately $1,479,094.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,636 shares of company stock worth $667,583. Insiders own 2.70% of the company’s stock.

Large investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Heritage Financial in the 3rd quarter worth approximately $131,000. Legal & General Group Plc lifted its stake in shares of Heritage Financial by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 7,369 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 297 shares during the period. Susquehanna International Group LLP bought a new position in shares of Heritage Financial in the 2nd quarter worth approximately $226,000. Macquarie Group Ltd. bought a new position in shares of Heritage Financial in the 3rd quarter worth approximately $289,000. Finally, Principal Financial Group Inc. bought a new position in shares of Heritage Financial in the 2nd quarter worth approximately $274,000. Hedge funds and other institutional investors own 78.13% of the company’s stock.

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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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