Heritage Financial (NASDAQ:HFWA) Sets New 52-Week High – Should You Buy?

Heritage Financial Corporation (NASDAQ:HFWA) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $28.44 and last traded at $28.39, with a volume of 71769 shares changing hands. The stock had previously closed at $27.78.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Zacks Research cut Heritage Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Stephens lifted their target price on Heritage Financial from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Heritage Financial in a research report on Thursday, January 22nd. DA Davidson raised their price target on shares of Heritage Financial from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Finally, Piper Sandler lifted their price objective on shares of Heritage Financial from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.25.

Heritage Financial Stock Performance

The firm has a 50-day moving average of $25.08 and a two-hundred day moving average of $24.05. The company has a quick ratio of 0.84, a current ratio of 0.83 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $957.33 million, a PE ratio of 14.38 and a beta of 0.53.

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

Heritage Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, January 28th. This represents a $0.96 dividend on an annualized basis and a yield of 3.4%. Heritage Financial’s payout ratio is presently 48.98%.

Insiders Place Their Bets

In other Heritage Financial news, President Bryan Mcdonald purchased 19,106 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was purchased at an average price of $22.32 per share, for a total transaction of $426,445.92. Following the purchase, the president directly owned 31,363 shares in the company, valued at approximately $700,022.16. This trade represents a 155.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederick B. Rivera sold 1,800 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $26.31, for a total value of $47,358.00. Following the completion of the transaction, the director directly owned 4,972 shares of the company’s stock, valued at $130,813.32. The trade was a 26.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Hantz Financial Services Inc. grew its stake in Heritage Financial by 316.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,651 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 1,255 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of 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 purchasing an additional 1,951 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Heritage Financial by 99.1% in 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 purchasing an additional 1,431 shares during the period. GAMMA Investing LLC increased its stake in shares of Heritage Financial by 20.8% during the fourth quarter. GAMMA Investing LLC now owns 5,171 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 891 shares in the last quarter. Finally, CWM LLC raised its position in shares of Heritage Financial by 100.5% during the 3rd quarter. CWM LLC now owns 7,657 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 3,838 shares during the last quarter. 78.30% of the stock is owned by institutional investors and hedge funds.

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.