BidaskClub downgraded shares of Heritage Financial (NASDAQ:HFWA) from a buy rating to a hold rating in a report issued on Saturday morning.

Several other brokerages have also issued reports on HFWA. FIG Partners raised Heritage Financial from a market-perform rating to an outperform rating in a research note on Tuesday, December 12th. DA Davidson boosted their price target on Heritage Financial from $35.00 to $36.00 and gave the company a buy rating in a research note on Tuesday, November 7th. Zacks Investment Research raised Heritage Financial from a hold rating to a buy rating and set a $35.00 price target on the stock in a research note on Monday, October 30th. Finally, ValuEngine raised Heritage Financial from a hold rating to a buy rating in a research report on Friday, September 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $31.75.

Shares of Heritage Financial (NASDAQ:HFWA) traded up $0.90 on Friday, reaching $31.75. The company’s stock had a trading volume of 281,093 shares, compared to its average volume of 176,217. Heritage Financial has a 12-month low of $22.50 and a 12-month high of $33.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $950.25, a price-to-earnings ratio of 23.01, a PEG ratio of 2.24 and a beta of 0.47.

Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. Heritage Financial had a return on equity of 8.42% and a net margin of 23.48%. The firm had revenue of $43.39 million for the quarter, compared to analyst estimates of $42.85 million. equities research analysts expect that Heritage Financial will post 1.42 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, November 7th. Heritage Financial’s payout ratio is 37.68%.

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

Large investors have recently modified their holdings of the company. MUFG Americas Holdings Corp raised its position in Heritage Financial by 1.2% in the 2nd quarter. MUFG Americas Holdings Corp now owns 3,952 shares of the financial services provider’s stock valued at $105,000 after buying an additional 45 shares during the last quarter. Alps Advisors Inc. raised its position in Heritage Financial by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 20,120 shares of the financial services provider’s stock valued at $533,000 after buying an additional 52 shares during the last quarter. Legal & General Group Plc raised its position in 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 valued at $195,000 after buying an additional 297 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Heritage Financial by 2.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 10,600 shares of the financial services provider’s stock valued at $281,000 after buying an additional 300 shares during the last quarter. Finally, PDT Partners LLC raised its position in Heritage Financial by 2.1% in the 2nd quarter. PDT Partners LLC now owns 19,290 shares of the financial services provider’s stock valued at $511,000 after buying an additional 390 shares during the last quarter. 78.15% of the stock is currently owned by institutional investors.

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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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