BidaskClub Upgrades Heritage Financial (NASDAQ:HFWA) to “Sell”

Heritage Financial (NASDAQ:HFWA) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Saturday, BidAskClub reports.

A number of other brokerages also recently issued reports on HFWA. ValuEngine upgraded shares of Heritage Financial from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Zacks Investment Research downgraded shares of Heritage Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 15th. Finally, Janney Montgomery Scott downgraded shares of Heritage Financial from a “buy” rating to a “neutral” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $34.00.

NASDAQ:HFWA opened at $27.29 on Friday. The firm’s 50 day simple moving average is $26.67 and its 200 day simple moving average is $28.64. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.86 and a quick ratio of 0.86. Heritage Financial has a one year low of $25.24 and a one year high of $35.63. The company has a market cap of $993.61 million, a PE ratio of 15.51, a P/E/G ratio of 2.12 and a beta of 0.74.

Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.07). The firm had revenue of $58.10 million during the quarter, compared to analyst estimates of $59.73 million. Heritage Financial had a return on equity of 8.86% and a net margin of 25.83%. Equities research analysts expect that Heritage Financial will post 1.81 EPS for the current year.

In other news, Director Brian L. Vance sold 2,274 shares of Heritage Financial stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $26.82, for a total value of $60,988.68. Following the completion of the sale, the director now owns 98,737 shares in the company, valued at approximately $2,648,126.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Bryan Mcdonald sold 4,000 shares of Heritage Financial stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $26.67, for a total transaction of $106,680.00. Following the completion of the sale, the chief operating officer now owns 11,119 shares of the company’s stock, valued at approximately $296,543.73. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its stake in shares of Heritage Financial by 110.8% in the 2nd quarter. Invesco Ltd. now owns 1,059,728 shares of the financial services provider’s stock valued at $31,305,000 after acquiring an additional 557,062 shares in the last quarter. Northern Trust Corp increased its stake in shares of Heritage Financial by 1.3% in the 2nd quarter. Northern Trust Corp now owns 631,389 shares of the financial services provider’s stock valued at $18,651,000 after acquiring an additional 7,923 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Heritage Financial by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 472,533 shares of the financial services provider’s stock valued at $13,959,000 after acquiring an additional 2,970 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Heritage Financial by 55.6% in the 2nd quarter. Wells Fargo & Company MN now owns 333,559 shares of the financial services provider’s stock valued at $9,853,000 after acquiring an additional 119,188 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Heritage Financial by 1.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 199,801 shares of the financial services provider’s stock valued at $5,903,000 after acquiring an additional 2,805 shares in the last quarter. Institutional investors own 80.69% 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 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.

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