Heritage Financial (NASDAQ:HFWA) Given New $31.00 Price Target at Piper Sandler

Heritage Financial (NASDAQ:HFWA) had its price objective reduced by equities research analysts at Piper Sandler from $34.00 to $31.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price suggests a potential upside of 37.53% from the company’s current price.

A number of other research firms have also weighed in on HFWA. Keefe, Bruyette & Woods reduced their price objective on Heritage Financial from $27.00 to $26.00 and set a “market perform” rating for the company in a research report on Monday. StockNews.com upgraded Heritage Financial from a “sell” rating to a “hold” rating in a report on Monday, January 27th.

Heritage Financial Stock Down 0.3 %

Heritage Financial stock traded down $0.06 on Monday, hitting $22.54. 72,079 shares of the stock traded hands, compared to its average volume of 209,725. Heritage Financial has a 1 year low of $16.55 and a 1 year high of $27.58. The firm has a market cap of $766.19 million, a P/E ratio of 18.19 and a beta of 0.47. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $23.27 and its 200 day simple moving average is $24.22.

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

Insiders Place Their Bets

In related news, CFO Donald Hinson sold 3,420 shares of Heritage Financial stock in a transaction dated Monday, March 17th. The stock was 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 directly owns 42,087 shares in the company, valued at approximately $992,832.33. This trade represents a 7.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $166,400.78. Following the completion of the transaction, the chief executive officer now directly owns 70,906 shares of the company’s stock, valued at approximately $1,677,635.96. This trade represents a 9.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,311 shares of company stock valued at $267,473. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Heritage Financial

A number of large investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC boosted its stake in shares of Heritage Financial by 794.1% in the 4th quarter. Sterling Capital Management LLC now owns 1,064 shares of the financial services provider’s stock worth $26,000 after buying an additional 945 shares during the last quarter. GAMMA Investing LLC boosted its position in Heritage Financial by 45.3% in the first quarter. GAMMA Investing LLC now owns 2,972 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 927 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Heritage Financial by 519.0% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,553 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 2,979 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Heritage Financial by 475.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,989 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 3,296 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Heritage Financial in the 4th quarter worth approximately $157,000. Institutional investors 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.