Heritage Financial (HFWA) Downgraded by ValuEngine to “Hold”

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Heritage Financial (NASDAQ:HFWA) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Thursday.

A number of other brokerages also recently commented on HFWA. BidaskClub downgraded Heritage Financial from a “buy” rating to a “hold” rating in a research report on Friday, September 14th. Zacks Investment Research upgraded Heritage Financial from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Wednesday, September 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Heritage Financial has a consensus rating of “Hold” and a consensus price target of $36.25.

Shares of NASDAQ:HFWA traded down $0.59 on Thursday, reaching $32.54. 214,742 shares of the company traded hands, compared to its average volume of 233,799. Heritage Financial has a fifty-two week low of $28.46 and a fifty-two week high of $37.40. The company has a market capitalization of $1.22 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.64 and a beta of 0.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84.

Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Heritage Financial had a return on equity of 8.92% and a net margin of 20.10%. The company had revenue of $59.18 million during the quarter, compared to the consensus estimate of $57.63 million. As a group, research analysts forecast that Heritage Financial will post 1.79 EPS for the current fiscal year.

In other news, Director Brian L. Vance sold 5,000 shares of the stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $34.74, for a total value of $173,700.00. Following the completion of the sale, the director now owns 128,313 shares in the company, valued at $4,457,593.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lisa Banner sold 1,326 shares of the stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $33.44, for a total value of $44,341.44. Following the completion of the sale, the director now owns 2,387 shares of the company’s stock, valued at approximately $79,821.28. The disclosure for this sale can be found here. Insiders have sold a total of 11,326 shares of company stock valued at $390,491 in the last quarter. Insiders own 2.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in HFWA. Sei Investments Co. lifted its holdings in shares of Heritage Financial by 61.5% in the second quarter. Sei Investments Co. now owns 4,919 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 1,873 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Heritage Financial in the second quarter valued at $211,000. Marshall & Sullivan Inc. WA lifted its holdings in shares of Heritage Financial by 1,948.0% in the third quarter. Marshall & Sullivan Inc. WA now owns 6,144 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 5,844 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Heritage Financial in the third quarter valued at $228,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Heritage Financial in the second quarter valued at $235,000. Institutional investors own 84.18% of the company’s stock.

Heritage Financial Company Profile

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

Further Reading: What type of investment options does a Roth IRA provide?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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