Heritage Financial’s (HFWA) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of Heritage Financial (NASDAQ:HFWA) in a report published on Wednesday morning, Benzinga reports. They currently have a $20.00 target price on the financial services provider’s stock.

Separately, Stephens reaffirmed an equal weight rating and set a $22.00 target price on shares of Heritage Financial in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Heritage Financial has an average rating of Hold and a consensus price target of $21.75.

Heritage Financial Price Performance

HFWA opened at $17.17 on Wednesday. The firm has a market capitalization of $595.63 million, a PE ratio of 12.91 and a beta of 0.55. The business’s 50-day moving average is $17.96 and its two-hundred day moving average is $18.92. Heritage Financial has a 1 year low of $15.50 and a 1 year high of $22.55. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80.

Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). The firm had revenue of $48.63 million for the quarter, compared to the consensus estimate of $59.87 million. Heritage Financial had a return on equity of 8.18% and a net margin of 15.70%. Research analysts anticipate that Heritage Financial will post 1.64 earnings per share for the current fiscal year.

Heritage Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend was Tuesday, May 7th. Heritage Financial’s dividend payout ratio (DPR) is presently 69.17%.

Institutional Trading of Heritage Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Heritage Financial by 5.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,644 shares of the financial services provider’s stock valued at $420,000 after purchasing an additional 947 shares during the period. Swiss National Bank increased its holdings in Heritage Financial by 1.8% in the 3rd quarter. Swiss National Bank now owns 77,168 shares of the financial services provider’s stock worth $1,259,000 after buying an additional 1,400 shares during the period. PNC Financial Services Group Inc. raised its position in Heritage Financial by 72.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,394 shares of the financial services provider’s stock worth $73,000 after buying an additional 1,428 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 valued at $578,000 after acquiring an additional 1,471 shares during the period. Finally, Kiley Juergens Wealth Management LLC lifted its stake in Heritage Financial by 0.7% during the 1st quarter. Kiley Juergens Wealth Management LLC now owns 239,596 shares of the financial services provider’s stock valued at $4,646,000 after acquiring an additional 1,741 shares during the period. Institutional investors and hedge funds own 78.30% of the company’s stock.

About Heritage Financial

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.