Heritage Financial (NASDAQ:HFWA) Price Target Increased to $26.00 by Analysts at Stephens

Heritage Financial (NASDAQ:HFWA) had its price objective hoisted by stock analysts at Stephens from $24.00 to $26.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective suggests a potential upside of 13.19% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Piper Sandler upped their target price on shares of Heritage Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday. Keefe, Bruyette & Woods upped their target price on shares of 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.00.

Heritage Financial Trading Up 2.8 %

NASDAQ:HFWA opened at $22.97 on Tuesday. Heritage Financial has a one year low of $15.94 and a one year high of $23.82. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day simple moving average is $21.96 and its 200 day simple moving average is $20.02. The firm has a market capitalization of $792.47 million, a P/E ratio of 18.23 and a beta of 0.53.

Heritage Financial (NASDAQ:HFWA) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.09). The firm had revenue of $81.65 million during the quarter, compared to the consensus estimate of $58.17 million. Heritage Financial had a return on equity of 7.95% and a net margin of 14.59%. During the same quarter in the prior year, the company posted $0.51 EPS. As a group, analysts forecast that Heritage Financial will post 1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System raised its holdings in shares of Heritage Financial by 9.4% during the third quarter. New York State Teachers Retirement System now owns 5,796 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Heritage Financial by 11.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,154 shares of the financial services provider’s stock valued at $452,000 after buying an additional 2,154 shares during the last quarter. CWM LLC increased its holdings in Heritage Financial by 17.1% during the third quarter. CWM LLC now owns 3,297 shares of the financial services provider’s stock valued at $72,000 after buying an additional 481 shares during the last quarter. GAMMA Investing LLC increased its holdings in Heritage Financial by 43.7% during the third quarter. GAMMA Investing LLC now owns 1,975 shares of the financial services provider’s stock valued at $43,000 after buying an additional 601 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Heritage Financial during the third quarter valued at approximately $234,000. 78.30% of the stock is 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.