Zacks Investment Research upgraded shares of Heritage Financial (NASDAQ:HFWA) from a sell rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “Heritage Financial Corporation, Inc. is a bank holding company. “

A number of other equities analysts have also weighed in on the company. BidaskClub lowered Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, Sandler O’Neill lowered Heritage Financial from a buy rating to a hold rating and decreased their price target for the company from $34.00 to $32.00 in a research report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Heritage Financial has a consensus rating of Hold and a consensus target price of $34.00.

Shares of NASDAQ:HFWA traded down $0.15 during midday trading on Wednesday, reaching $28.22. The company had a trading volume of 239,309 shares, compared to its average volume of 113,899. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.84 and a current ratio of 0.86. Heritage Financial has a 1-year low of $26.95 and a 1-year high of $37.40. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 2.03 and a beta of 0.73. The company has a fifty day simple moving average of $29.33.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.07). Heritage Financial had a net margin of 25.83% and a return on equity of 8.86%. The company had revenue of $58.10 million during the quarter, compared to analyst estimates of $59.73 million. As a group, sell-side analysts forecast that Heritage Financial will post 1.99 earnings per share for the current fiscal year.

In other news, Director Brian L. Vance sold 3,885 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $30.74, for a total transaction of $119,424.90. Following the completion of the sale, the director now directly owns 101,011 shares of the company’s stock, valued at approximately $3,105,078.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lisa Banner sold 976 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $29.25, for a total value of $28,548.00. Following the sale, the director now directly owns 731 shares of the company’s stock, valued at $21,381.75. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mason Street Advisors LLC raised its stake in shares of Heritage Financial by 3.4% during the 1st quarter. Mason Street Advisors LLC now owns 10,660 shares of the financial services provider’s stock worth $321,000 after purchasing an additional 354 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Heritage Financial by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 23,113 shares of the financial services provider’s stock valued at $687,000 after acquiring an additional 508 shares in the last quarter. Piedmont Investment Advisors Inc. raised its stake in shares of Heritage Financial by 6.6% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 8,482 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 526 shares in the last quarter. Comerica Bank raised its stake in shares of Heritage Financial by 0.5% in the 1st quarter. Comerica Bank now owns 114,699 shares of the financial services provider’s stock valued at $3,537,000 after acquiring an additional 591 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Heritage Financial by 119.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,205 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 655 shares in the last quarter. 81.31% of the stock is owned by institutional investors.

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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