Heritage Financial (NASDAQ:HFWA) Price Target Lowered to $23.00 at DA Davidson

Heritage Financial (NASDAQ:HFWAGet Free Report) had its target price dropped by equities research analysts at DA Davidson from $24.00 to $23.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price target would indicate a potential upside of 11.76% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Keefe, Bruyette & Woods lowered their target price on Heritage Financial from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Friday. StockNews.com raised shares of Heritage Financial from a “sell” rating to a “hold” rating in a report on Friday. Finally, TheStreet upgraded shares of 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $21.75.

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Heritage Financial Stock Performance

Shares of NASDAQ HFWA remained flat at $20.58 during midday trading on Friday. The stock had a trading volume of 281,997 shares, compared to its average volume of 171,494. The company has a market capitalization of $718.24 million, a P/E ratio of 9.31 and a beta of 0.57. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.58. Heritage Financial has a 52-week low of $14.85 and a 52-week high of $29.92. The company’s 50 day moving average is $20.05 and its 200 day moving average is $18.22.

Institutional Investors Weigh In On Heritage Financial

Hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Heritage Financial by 5.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,644 shares of the financial services provider’s stock worth $420,000 after buying an additional 947 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Heritage Financial in the 4th quarter worth about $81,000. Arizona State Retirement System purchased a new stake in shares of Heritage Financial in the 4th quarter valued at approximately $210,000. Assenagon Asset Management S.A. boosted its stake in shares of Heritage Financial by 35.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 193,846 shares of the financial services provider’s stock valued at $4,146,000 after purchasing an additional 50,688 shares in the last quarter. Finally, Ziegler Capital Management LLC boosted its holdings in Heritage Financial by 9.1% during the fourth quarter. Ziegler Capital Management LLC now owns 35,566 shares of the financial services provider’s stock worth $761,000 after buying an additional 2,962 shares during the last quarter. 78.42% of the stock is currently owned by institutional investors.

Heritage Financial Company Profile

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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. The company 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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