Heritage Financial (NASDAQ:HFWA) announced its earnings results on Thursday. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.07), Morningstar.com reports. Heritage Financial had a return on equity of 8.86% and a net margin of 25.83%. The business had revenue of $58.10 million for the quarter, compared to analyst estimates of $59.73 million.

Shares of HFWA stock traded down $0.15 on Friday, hitting $28.22. 239,309 shares of the stock traded hands, compared to its average volume of 113,899. The company’s 50-day moving average price is $29.33. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.04 billion, a PE ratio of 15.34, a PEG ratio of 2.02 and a beta of 0.73. Heritage Financial has a twelve month low of $26.95 and a twelve month high of $37.40.

HFWA has been the topic of several recent research reports. Janney Montgomery Scott cut shares of Heritage Financial from a “buy” rating to a “neutral” rating in a research note on Friday. Sandler O’Neill cut shares of Heritage Financial from a “buy” rating to a “hold” rating and lowered their target price for the stock from $34.00 to $32.00 in a research note on Friday, April 26th. BidaskClub cut shares of Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research cut shares of Eisai from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Heritage Financial currently has an average rating of “Hold” and an average target price of $34.00.

In other news, Director Brian L. Vance sold 3,885 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $30.74, for a total transaction of $119,424.90. Following the transaction, the director now owns 101,011 shares of the company’s stock, valued at approximately $3,105,078.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lisa Banner sold 976 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $29.25, for a total transaction of $28,548.00. Following the transaction, the director now directly owns 731 shares in the company, valued at approximately $21,381.75. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in HFWA. Clearbridge Investments LLC raised its holdings in Heritage Financial by 54.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,907 shares of the financial services provider’s stock valued at $57,000 after buying an additional 676 shares during the period. Vista Capital Partners Inc. purchased a new stake in Heritage Financial in the 1st quarter valued at about $879,000. United Services Automobile Association raised its holdings in Heritage Financial by 14.2% in the 4th quarter. United Services Automobile Association now owns 9,481 shares of the financial services provider’s stock valued at $282,000 after buying an additional 1,181 shares during the period. Texas Permanent School Fund raised its holdings in Heritage Financial by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 22,537 shares of the financial services provider’s stock valued at $679,000 after buying an additional 821 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Heritage Financial by 12.0% in the 4th quarter. Geode Capital Management LLC now owns 382,935 shares of the financial services provider’s stock valued at $11,380,000 after buying an additional 41,164 shares during the period. 81.31% 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 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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Earnings History for Heritage Financial (NASDAQ:HFWA)

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