Heritage Financial (NASDAQ:HFWA) Reaches New 12-Month High – Should You Buy?

by · The Markets Daily

Shares of Heritage Financial Co. (NASDAQ:HFWA – Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $27.47 and last traded at $27.39, with a volume of 29648 shares trading hands. The stock had previously closed at $26.26.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HFWA shares. Stephens upped their price target on shares of Heritage Financial from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their target price on Heritage Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Finally, Piper Sandler boosted their price target on Heritage Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Heritage Financial has an average rating of “Hold” and an average price target of $25.00.

Read Our Latest Report on Heritage Financial

Heritage Financial Trading Up 2.9 %

The business has a 50-day simple moving average of $22.29 and a 200-day simple moving average of $20.44. The company has a market cap of $932.19 million, a PE ratio of 24.32 and a beta of 0.52. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.46.

Heritage Financial (NASDAQ:HFWA – Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). Heritage Financial had a return on equity of 7.01% and a net margin of 12.27%. The company had revenue of $81.65 million for the quarter, compared to analysts’ expectations of $58.17 million. During the same period in the prior year, the company posted $0.51 EPS. On average, analysts predict that Heritage Financial Co. will post 1.65 EPS for the current fiscal year.

Heritage Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Wednesday, November 6th. Heritage Financial’s dividend payout ratio (DPR) is 85.19%.

Insider Transactions at Heritage Financial

In other Heritage Financial news, EVP Tony Chalfant sold 2,975 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.50, for a total transaction of $78,837.50. Following the sale, the executive vice president now directly owns 20,119 shares in the company, valued at approximately $533,153.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Heritage Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Heritage Financial by 39.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,308 shares of the financial services provider’s stock valued at $569,000 after buying an additional 7,664 shares during the period. Empowered Funds LLC increased its stake in Heritage Financial by 8.2% during the first quarter. Empowered Funds LLC now owns 99,626 shares of the financial services provider’s stock worth $1,932,000 after acquiring an additional 7,525 shares during the last quarter. US Bancorp DE raised its holdings in shares of Heritage Financial by 212.4% in the 1st quarter. US Bancorp DE now owns 206,776 shares of the financial services provider’s stock worth $4,009,000 after purchasing an additional 140,592 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of Heritage Financial by 60.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,919 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 6,010 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Heritage Financial by 5.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,784 shares of the financial services provider’s stock worth $578,000 after purchasing an additional 1,471 shares during the period. 78.30% of the stock is owned by hedge funds and other institutional investors.

About Heritage Financial

(Get Free Report)

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to small and medium sized businesses and individuals in the United States. It accepts various deposit products, such as noninterest demand deposits, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.

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