Heritage Financial Co. (NASDAQ:HFWA) Sees Significant Growth in Short Interest

Heritage Financial Co. (NASDAQ:HFWAGet Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 625,100 shares, an increase of 9.2% from the February 29th total of 572,400 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average daily volume of 191,300 shares, the days-to-cover ratio is presently 3.3 days.

Analysts Set New Price Targets

HFWA has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered their price target on shares of Heritage Financial from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Friday, January 26th. StockNews.com raised shares of Heritage Financial from a “sell” rating to a “hold” rating in a report on Friday, January 26th. DA Davidson lowered their price target on shares of Heritage Financial from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Stephens reaffirmed an “equal weight” rating and issued a $22.00 target price on shares of Heritage Financial in a report on Wednesday, March 13th. Finally, TheStreet raised shares of Heritage Financial from a “c+” rating to a “b-” rating in a report on Tuesday, December 12th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Heritage Financial currently has a consensus rating of “Hold” and a consensus target price of $22.25.

View Our Latest Analysis on HFWA

Institutional Investors Weigh In On Heritage Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Aigen Investment Management LP bought a new stake in shares of Heritage Financial during the third quarter worth about $206,000. Charles Schwab Investment Management Inc. grew its stake in Heritage Financial by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 982,685 shares of the financial services provider’s stock valued at $16,028,000 after purchasing an additional 45,052 shares during the period. Bank of New York Mellon Corp grew its stake in Heritage Financial by 7.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 928,004 shares of the financial services provider’s stock valued at $15,136,000 after purchasing an additional 65,662 shares during the period. Schroder Investment Management Group lifted its holdings in Heritage Financial by 34.7% during the 3rd quarter. Schroder Investment Management Group now owns 535,820 shares of the financial services provider’s stock worth $8,739,000 after purchasing an additional 137,915 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Heritage Financial by 6.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,697 shares of the financial services provider’s stock valued at $305,000 after acquiring an additional 1,092 shares in the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.

Heritage Financial Stock Down 0.6 %

HFWA opened at $18.86 on Tuesday. The firm’s 50-day simple moving average is $18.89 and its 200-day simple moving average is $18.55. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.78 and a current ratio of 0.78. Heritage Financial has a twelve month low of $14.85 and a twelve month high of $22.55. The firm has a market cap of $653.50 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 for the quarter, meeting analysts’ consensus estimates of $0.47. Heritage Financial had a net margin of 20.37% and a return on equity of 8.66%. The business had revenue of $50.72 million for the quarter, compared to the consensus estimate of $62.00 million. Equities research analysts anticipate that Heritage Financial will post 1.74 EPS for the current fiscal year.

Heritage Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were issued a dividend of $0.23 per share. This is an increase from Heritage Financial’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $0.92 annualized dividend and a yield of 4.88%. Heritage Financial’s dividend payout ratio (DPR) is currently 52.57%.

Heritage Financial Company Profile

(Get Free Report)

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.

Read More

Receive News & Ratings for Heritage Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heritage Financial and related companies with MarketBeat.com's FREE daily email newsletter.