Heritage Financial (NASDAQ:HFWA) Price Target Raised to $32.00

Heritage Financial (NASDAQ:HFWA) had its price target boosted by stock analysts at Keefe, Bruyette & Woods from $31.00 to $32.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 6.66% from the stock’s current price.

Other analysts also recently issued research reports about the company. DA Davidson upped their price target on Heritage Financial from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings restated a “buy (b)” rating on shares of Heritage Financial in a report on Tuesday, July 7th. Wall Street Zen upgraded Heritage Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Piper Sandler decreased their target price on Heritage Financial from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Finally, Zacks Research upgraded Heritage Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Heritage Financial Stock Down 0.5%

Shares of NASDAQ:HFWA traded down $0.16 during trading on Monday, reaching $30.00. 84,889 shares of the company traded hands, compared to its average volume of 308,630. The firm has a fifty day simple moving average of $28.67 and a 200 day simple moving average of $27.20. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 0.17. Heritage Financial has a 1-year low of $21.32 and a 1-year high of $31.25. The firm has a market cap of $1.24 billion, a P/E ratio of 14.29 and a beta of 0.49.

Heritage Financial (NASDAQ:HFWA) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.44 by $0.13. Heritage Financial had a net margin of 20.44% and a return on equity of 8.78%. The firm had revenue of $84.13 million for the quarter, compared to the consensus estimate of $86.30 million. Analysts anticipate that Heritage Financial will post 2.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Heritage Financial

In related news, CFO Donald Hinson sold 3,842 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $28.37, for a total transaction of $108,997.54. Following the completion of the transaction, the chief financial officer owned 41,241 shares of the company’s stock, valued at approximately $1,170,007.17. The trade was a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HFWA. Illinois Municipal Retirement Fund lifted its holdings in shares of Heritage Financial by 2.9% during the first quarter. Illinois Municipal Retirement Fund now owns 18,381 shares of the financial services provider’s stock worth $478,000 after buying an additional 514 shares during the last quarter. CWM LLC raised its stake in Heritage Financial by 7.7% during the 4th quarter. CWM LLC now owns 8,249 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 592 shares during the last quarter. GAMMA Investing LLC raised its stake in Heritage Financial by 12.2% during the 2nd quarter. GAMMA Investing LLC now owns 6,519 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 710 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Heritage Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,060 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 881 shares during the period. Finally, Swiss National Bank boosted its holdings in Heritage Financial by 1.5% in the 1st quarter. Swiss National Bank now owns 67,168 shares of the financial services provider’s stock valued at $1,746,000 after purchasing an additional 1,000 shares during the period. 78.30% of the stock is owned by 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.