Could Heritage Financial Corporation (HFWA) Change Direction After Reaching 52-Week High?

June 29, 2018 - By Lisa Tanner

Investors sentiment increased to 1.26 in Q1 2018. Its up 0.01, from 1.25 in 2017Q4. It is positive, as 14 investors sold Heritage Financial Corporation shares while 43 reduced holdings. 28 funds opened positions while 44 raised stakes. 25.64 million shares or 8.91% more from 23.54 million shares in 2017Q4 were reported.
9,009 are held by Secor Capital Advsr Limited Partnership. Comml Bank Of America De reported 48,496 shares. 7,694 are held by Trexquant Inv Limited Partnership. Moreover, Marshall Wace Llp has 0.02% invested in Heritage Financial Corporation (NASDAQ:HFWA). Rhumbline Advisers reported 0% in Heritage Financial Corporation (NASDAQ:HFWA). Aperio Lc has 8,379 shares for 0% of their portfolio. California Employees Retirement Systems invested in 0% or 100,615 shares. State Board Of Administration Of Florida Retirement Systems stated it has 24,154 shares. Matarin Mgmt stated it has 120,360 shares. Moreover, Metropolitan Life Insurance has 0% invested in Heritage Financial Corporation (NASDAQ:HFWA). Legal And General Public Ltd Com has 0% invested in Heritage Financial Corporation (NASDAQ:HFWA) for 5,388 shares. Eagle Asset Management holds 0.08% of its portfolio in Heritage Financial Corporation (NASDAQ:HFWA) for 462,845 shares. 53,514 were accumulated by Merriman Wealth. 42,348 were reported by Shell Asset Management. Moreover, Quantbot L P has 0.02% invested in Heritage Financial Corporation (NASDAQ:HFWA) for 5,996 shares.

Since April 30, 2018, it had 0 buys, and 1 insider sale for $44,781 activity.

The stock of Heritage Financial Corporation (NASDAQ:HFWA) hit a new 52-week high and has $37.07 target or 6.00 % above today’s $34.98 share price. The 7 months bullish chart indicates low risk for the $1.19 billion company. The 1-year high was reported on Jun, 29 by Barchart.com. If the $37.07 price target is reached, the company will be worth $71.16M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.08% or $0.375 during the last trading session, reaching $34.975. About 366,671 shares traded or 92.64% up from the average. Heritage Financial Corporation (NASDAQ:HFWA) has risen 35.85% since June 29, 2017 and is uptrending. It has outperformed by 23.28% the S&P500.

Analysts await Heritage Financial Corporation (NASDAQ:HFWA) to report earnings on July, 25. They expect $0.44 EPS, up 12.82 % or $0.05 from last year’s $0.39 per share. HFWA’s profit will be $14.92 million for 19.87 P/E if the $0.44 EPS becomes a reality. After $0.41 actual EPS reported by Heritage Financial Corporation for the previous quarter, Wall Street now forecasts 7.32 % EPS growth.

Heritage Financial Corporation (NASDAQ:HFWA) Ratings Coverage

Among 4 analysts covering Heritage Financial Corp (NASDAQ:HFWA), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Heritage Financial Corp has $36.0 highest and $35.5 lowest target. $36’s average target is 2.93% above currents $34.975 stock price. Heritage Financial Corp had 5 analyst reports since January 18, 2018 according to SRatingsIntel. The company was upgraded on Monday, March 12 by Keefe Bruyette & Woods. Sandler O’Neill maintained the shares of HFWA in report on Thursday, January 18 with “Buy” rating. The firm has “Overweight” rating by PiperJaffray given on Wednesday, May 2. On Friday, January 26 the stock rating was maintained by Sandler O’Neill with “Buy”. Wood upgraded the shares of HFWA in report on Monday, March 12 to “Outperform” rating.

Another recent and important Heritage Financial Corporation (NASDAQ:HFWA) news was published by Streetinsider.com which published an article titled: “Heritage Financial (HFWA) Set to Join S&P SmallCap 600” on June 27, 2018.

Heritage Financial Corporation operates as the bank holding firm for Heritage Bank that provides various financial services to businesses and individuals in the United States. The company has market cap of $1.19 billion. The firm accepts various deposit products, such as noninterest demand accounts, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit. It has a 26.06 P/E ratio. The Company’s loan portfolio includes commercial and industrial loans, owner-occupied and non-owner occupied commercial real estate loans, one-to-four family residential loans, real estate construction and land development loans, consumer loans, business lines of credit, term equipment financing, and term real estate loans, as well as commercial loans focuses on real estate related industries and businesses in agricultural, healthcare, legal, and other professions.

Heritage Financial Corporation (NASDAQ:HFWA) Institutional Positions Chart

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