Heritage Financial (NASDAQ:HFWA) Given New $30.00 Price Target at Stephens

Heritage Financial (NASDAQ:HFWA) had its price objective boosted by research analysts at Stephens from $28.00 to $30.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective would indicate a potential upside of 12.87% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods lifted their price target on shares of Heritage Financial from $26.00 to $28.00 and gave the stock a “market perform” rating in a research note on Monday, September 29th. Zacks Research downgraded Heritage Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Heritage Financial in a research note on Thursday. Wall Street Zen raised Heritage Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Finally, DA Davidson raised their price target on Heritage Financial from $29.00 to $32.00 and gave the company a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.25.

Heritage Financial Price Performance

HFWA stock opened at $26.58 on Monday. Heritage Financial has a one year low of $19.84 and a one year high of $28.35. The firm has a market cap of $902.66 million, a PE ratio of 13.55 and a beta of 0.52. The firm’s 50 day moving average price is $24.42 and its 200-day moving average price is $23.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.84 and a current ratio of 0.83.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.09. The business had revenue of $66.35 million during the quarter, compared to analysts’ expectations of $65.95 million. Heritage Financial had a return on equity of 8.61% and a net margin of 20.10%. On average, equities research analysts anticipate that Heritage Financial will post 2.09 EPS for the current year.

Insider Buying and Selling at Heritage Financial

In other Heritage Financial news, President Bryan Mcdonald purchased 19,106 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was bought at an average cost of $22.32 per share, for a total transaction of $426,445.92. Following the acquisition, the president owned 31,363 shares of the company’s stock, valued at approximately $700,022.16. The trade was a 155.88% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Heritage Financial

Several institutional investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. grew its holdings in shares of Heritage Financial by 316.9% during the third quarter. Hantz Financial Services Inc. now owns 1,651 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 1,255 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Heritage Financial by 27,871.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,958 shares of the financial services provider’s stock valued at $47,000 after buying an additional 1,951 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Heritage Financial by 99.1% during the second quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 1,431 shares during the period. GAMMA Investing LLC increased its holdings in shares of Heritage Financial by 53.3% in the 2nd quarter. GAMMA Investing LLC now owns 4,557 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 1,585 shares during the period. Finally, CWM LLC lifted its position in Heritage Financial by 100.5% in the 3rd quarter. CWM LLC now owns 7,657 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 3,838 shares during the last quarter. 78.30% of the stock is owned by hedge funds and other institutional investors.

About Heritage Financial

Heritage Financial Corporation (NASDAQ:HFWA) is a bank holding company headquartered in Spokane, Washington. Through its primary subsidiary, Heritage Bank, the company provides a comprehensive range of banking and financial services to both individual and commercial clients. Heritage Bank’s offerings encompass deposit products, lending solutions, treasury and cash management services, mortgage banking, and wealth management, positioning the organization as a full-service community bank.

The company’s lending portfolio includes commercial real estate loans, agricultural loans, small business administration (SBA) loans, construction and development financing, and a variety of consumer mortgage products.