Heritage Financial (NASDAQ:HFWA) Given New $34.00 Price Target at Piper Sandler

Heritage Financial (NASDAQ:HFWA – Get Rating) had its price objective boosted by Piper Sandler to $34.00 in a report issued on Friday morning, Stock Target Advisor reports.

Separately, DA Davidson upgraded Heritage Financial from a neutral rating to a buy rating in a research note on Monday, July 25th.

Heritage Financial Stock Performance

Heritage Financial stock opened at $26.71 on Friday. The company has a market cap of $937.63 million, a PE ratio of 12.09 and a beta of 0.53. The company has a fifty day moving average price of $26.58 and a two-hundred day moving average price of $25.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.75 and a quick ratio of 0.75. Heritage Financial has a 12 month low of $20.95 and a 12 month high of $28.41.

Heritage Financial (NASDAQ:HFWA – Get Rating) last released its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The firm had revenue of $57.06 million during the quarter, compared to the consensus estimate of $56.23 million. Heritage Financial had a net margin of 33.11% and a return on equity of 9.41%. During the same quarter in the previous year, the company posted $0.90 earnings per share. Research analysts expect that Heritage Financial will post 2.13 earnings per share for the current year.

Heritage Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Wednesday, August 3rd were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Tuesday, August 2nd. Heritage Financial’s dividend payout ratio is currently 38.01%.

Institutional Investors Weigh In On Heritage Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. ExodusPoint Capital Management LP increased its stake in Heritage Financial by 1.6% in the 2nd quarter. ExodusPoint Capital Management LP now owns 29,042 shares of the financial services provider’s stock worth $731,000 after purchasing an additional 457 shares in the last quarter. rhino investment partners Inc grew its stake in Heritage Financial by 49.4% during the 2nd quarter. rhino investment partners Inc now owns 217,387 shares of the financial services provider’s stock valued at $5,469,000 after acquiring an additional 71,866 shares in the last quarter. Jane Street Group LLC purchased a new position in Heritage Financial during the 2nd quarter valued at about $306,000. Prudential Financial Inc. grew its stake in Heritage Financial by 5.0% during the 2nd quarter. Prudential Financial Inc. now owns 38,440 shares of the financial services provider’s stock valued at $967,000 after acquiring an additional 1,840 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Heritage Financial by 10.0% during the 2nd quarter. AQR Capital Management LLC now owns 73,604 shares of the financial services provider’s stock valued at $1,852,000 after acquiring an additional 6,685 shares in the last quarter. 78.62% of the stock is currently owned by institutional investors.

 

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