Heritage Financial (NASDAQ:HFWA) Share Price Crosses Above 200-Day Moving Average of $18.55

Heritage Financial Co. (NASDAQ:HFWAGet Free Report)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.55 and traded as high as $19.49. Heritage Financial shares last traded at $18.98, with a volume of 224,567 shares changing hands.

Analysts Set New Price Targets

HFWA has been the subject of a number of recent analyst reports. StockNews.com upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. Keefe, Bruyette & Woods dropped their price objective on Heritage Financial from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. Stephens restated an “equal weight” rating and set a $22.00 price objective on shares of Heritage Financial in a research report on Wednesday, March 13th. DA Davidson dropped their price objective on Heritage Financial from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, January 26th. Finally, TheStreet upgraded Heritage Financial from a “c+” rating to a “b-” rating in a research report on Tuesday, December 12th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.25.

View Our Latest Report on HFWA

Heritage Financial Trading Down 2.1 %

The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average price of $18.89 and a two-hundred day moving average price of $18.55. The company has a market cap of $657.66 million, a price-to-earnings ratio of 10.85 and a beta of 0.54.

Heritage Financial (NASDAQ:HFWAGet Free Report) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $50.72 million for the quarter, compared to analyst estimates of $62.00 million. Heritage Financial had a return on equity of 8.66% and a net margin of 20.37%. As a group, equities analysts forecast that Heritage Financial Co. will post 1.74 earnings per share for the current year.

Heritage Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date was Wednesday, February 7th. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.22. Heritage Financial’s dividend payout ratio (DPR) is currently 52.57%.

Institutional Trading of Heritage Financial

A number of institutional investors and hedge funds have recently modified their holdings of HFWA. JPMorgan Chase & Co. increased its position in shares of Heritage Financial by 21.4% during the first quarter. JPMorgan Chase & Co. now owns 169,517 shares of the financial services provider’s stock valued at $4,249,000 after acquiring an additional 29,923 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Heritage Financial by 18.6% during the first quarter. Bank of New York Mellon Corp now owns 967,438 shares of the financial services provider’s stock valued at $24,246,000 after buying an additional 151,460 shares during the period. Citigroup Inc. boosted its stake in Heritage Financial by 11.1% during the first quarter. Citigroup Inc. now owns 31,181 shares of the financial services provider’s stock valued at $781,000 after buying an additional 3,127 shares during the period. MetLife Investment Management LLC lifted its stake in Heritage Financial by 54.2% during the first quarter. MetLife Investment Management LLC now owns 18,965 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 6,670 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Heritage Financial by 13.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,265 shares of the financial services provider’s stock worth $758,000 after purchasing an additional 3,686 shares in the last quarter. 78.30% of the stock is owned by hedge funds and other institutional investors.

About Heritage Financial

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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.

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