Heritage Financial (NASDAQ:HFWA) Price Target Raised to $26.00

Heritage Financial (NASDAQ:HFWA) had its price target upped by equities researchers at Stephens from $24.00 to $26.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective points to a potential upside of 12.51% from the company’s current price.

A number of other equities research analysts have also recently weighed in on HFWA. Piper Sandler upped their price target on Heritage Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods lifted their price target on Heritage Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Heritage Financial currently has a consensus rating of “Hold” and a consensus target price of $25.00.

Heritage Financial Stock Up 0.5 %

Heritage Financial stock opened at $23.11 on Tuesday. The stock’s 50 day moving average price is $22.00 and its 200 day moving average price is $20.08. Heritage Financial has a 1-year low of $15.94 and a 1-year high of $23.82. The company has a market cap of $797.20 million, a PE ratio of 21.40 and a beta of 0.53. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.81 and a quick ratio of 0.81.

Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings results 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). The company had revenue of $81.65 million for the quarter, compared to analyst estimates of $58.17 million. Heritage Financial had a return on equity of 7.95% and a net margin of 14.59%. During the same period last year, the company earned $0.51 earnings per share. On average, sell-side analysts predict that Heritage Financial will post 1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Heritage Financial

Several large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of Heritage Financial by 133.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,374 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 786 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Heritage Financial in the 2nd quarter valued at about $25,000. Innealta Capital LLC purchased a new stake in shares of Heritage Financial during the 2nd quarter worth about $27,000. Point72 DIFC Ltd purchased a new position in Heritage Financial in the second quarter valued at approximately $27,000. Finally, Meeder Asset Management Inc. purchased a new stake in Heritage Financial during the second quarter worth approximately $31,000. 78.30% of the stock is currently owned by hedge funds and other institutional investors.

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.