Heritage Financial (NASDAQ:HFWA) PT Raised to $28.00

Heritage Financial (NASDAQ:HFWA - Get Free Report) had its price objective upped by Piper Sandler from $27.00 to $28.00 in a research 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 would indicate a potential upside of 21.90% from the company's current price.

Separately, Keefe, Bruyette & Woods upped their price target on 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 analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $24.00.

Heritage Financial Trading Up 2.8 %

HFWA traded up $0.63 during trading on Monday, hitting $22.97. The company's stock had a trading volume of 156,579 shares, compared to its average volume of 182,489. The firm has a market capitalization of $792.47 million, a P/E ratio of 18.01 and a beta of 0.53. Heritage Financial has a twelve month low of $15.94 and a twelve month high of $23.82. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.61. The stock's fifty day moving average price is $21.94 and its 200-day moving average price is $19.98.

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

Hedge Funds Weigh In On Heritage Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System lifted its holdings in shares of Heritage Financial by 9.4% in 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Heritage Financial by 11.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,154 shares of the financial services provider's stock valued at $452,000 after acquiring an additional 2,154 shares in the last quarter. CWM LLC lifted its stake in Heritage Financial by 17.1% during the 3rd quarter. CWM LLC now owns 3,297 shares of the financial services provider's stock valued at $72,000 after acquiring an additional 481 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Heritage Financial by 43.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,975 shares of the financial services provider's stock worth $43,000 after acquiring an additional 601 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Heritage Financial in the 3rd quarter worth $234,000. Institutional investors and hedge funds own 78.30% of the company's stock.

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.