Keefe, Bruyette & Woods Raises Heritage Financial (NASDAQ:HFWA) Price Target to $23.00

Heritage Financial (NASDAQ:HFWA) had its price objective boosted by Keefe, Bruyette & Woods from $20.00 to $23.00 in a research note issued to investors on Friday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Heritage Financial Trading Down 2.4 %

Shares of NASDAQ:HFWA opened at $22.56 on Friday. The stock has a market capitalization of $782.61 million, a PE ratio of 16.96 and a beta of 0.54. The company’s 50-day moving average price is $18.50 and its two-hundred day moving average price is $18.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.81 and a quick ratio of 0.80. Heritage Financial has a one year low of $15.50 and a one year high of $23.50.

Heritage Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.92 dividend on an annualized basis and a yield of 4.08%. Heritage Financial’s dividend payout ratio is 69.17%.

Hedge Funds Weigh In On Heritage Financial

A number of institutional investors have recently added to or reduced their stakes in HFWA. Innealta Capital LLC acquired a new stake in Heritage Financial in the second quarter valued at $27,000. Hennion & Walsh Asset Management Inc. lifted its stake in Heritage Financial by 61.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 17,930 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 6,807 shares during the last quarter. GAMMA Investing LLC grew its holdings in Heritage Financial by 133.7% during the second quarter. GAMMA Investing LLC now owns 1,374 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 786 shares during the period. Boston Partners increased its position in Heritage Financial by 70.5% during the first quarter. Boston Partners now owns 112,443 shares of the financial services provider’s stock worth $2,180,000 after buying an additional 46,511 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Heritage Financial by 5.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,784 shares of the financial services provider’s stock valued at $578,000 after buying an additional 1,471 shares during the period. 78.30% of the stock is currently owned by institutional investors and hedge funds.

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.