Piper Sandler Lowers Heritage Financial (NASDAQ:HFWA) Price Target to $31.00

Heritage Financial (NASDAQ:HFWA - Get Free Report) had its price objective cut by stock analysts at Piper Sandler from $34.00 to $31.00 in a report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Piper Sandler's price objective would indicate a potential upside of 31.47% from the stock's current price.

Several other research analysts have also recently weighed in on HFWA. StockNews.com raised Heritage Financial from a "sell" rating to a "hold" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods lowered their price objective on shares of Heritage Financial from $27.00 to $26.00 and set a "market perform" rating on the stock in a report on Monday, April 28th.

Heritage Financial Trading Up 2.3 %

NASDAQ:HFWA traded up $0.54 during mid-day trading on Monday, hitting $23.58. The company had a trading volume of 191,414 shares, compared to its average volume of 210,594. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.82 and a current ratio of 0.84. The business's fifty day moving average is $23.15 and its two-hundred day moving average is $24.22. Heritage Financial has a fifty-two week low of $16.55 and a fifty-two week high of $27.58. The firm has a market cap of $801.51 million, a P/E ratio of 19.02 and a beta of 0.47.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $57.59 million during the quarter, compared to the consensus estimate of $61.74 million. Heritage Financial had a net margin of 13.64% and a return on equity of 7.17%. As a group, research analysts expect that Heritage Financial will post 2.09 earnings per share for the current year.

Insider Transactions at Heritage Financial

In other Heritage Financial news, CFO Donald Hinson sold 3,420 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.59, for a total value of $80,677.80. Following the completion of the sale, the chief financial officer now owns 42,087 shares in the company, valued at $992,832.33. This trade represents a 7.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey J. Deuel sold 7,033 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.66, for a total transaction of $166,400.78. Following the transaction, the chief executive officer now owns 70,906 shares in the company, valued at $1,677,635.96. This represents a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,311 shares of company stock worth $267,473 in the last 90 days. Corporate insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On Heritage Financial

Several hedge funds have recently added to or reduced their stakes in HFWA. Proficio Capital Partners LLC acquired a new position in shares of Heritage Financial in the fourth quarter valued at approximately $280,000. Barclays PLC raised its position in Heritage Financial by 105.4% during the third quarter. Barclays PLC now owns 73,300 shares of the financial services provider's stock valued at $1,595,000 after purchasing an additional 37,606 shares in the last quarter. Ieq Capital LLC acquired a new stake in Heritage Financial in the fourth quarter valued at about $274,000. Jennison Associates LLC grew its holdings in shares of Heritage Financial by 26.7% during the 4th quarter. Jennison Associates LLC now owns 2,206,766 shares of the financial services provider's stock valued at $54,066,000 after purchasing an additional 465,708 shares during the last quarter. Finally, Amundi increased its holdings in shares of Heritage Financial by 199.9% during the fourth quarter. Amundi now owns 16,923 shares of the financial services provider's stock worth $402,000 after buying an additional 11,281 shares in the last quarter. Institutional investors and hedge funds own 78.30% of the company's stock.

Heritage Financial Company Profile

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.