Heritage Financial Corporation (HFWA) gets rating Downgrade from Keefe Bruyette


Heritage Financial Corporation’s recent filing unveils that its Director Rivera Frederick B acquired Company’s shares for reported $9804.0 on May 19. In the deal valued at $16.34 per share,600 shares were bought. As a result of this transaction, Rivera Frederick B now holds 4,121 shares worth roughly $ 72776.86.

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Then, CHARNESKI BRIAN bought 5,000 shares, generating $79,388 in total proceeds. Upon buying the shares at $15.88, the Director now owns 13,675 shares.

Before that, LYON JEFFREY S bought 1,750 shares. Heritage Financial Corporation shares valued at $30,389 were divested by the Director at a price of $17.36 per share. As a result of the transaction, LYON JEFFREY S now holds 40,742 shares, worth roughly $0.72 million.

Keefe Bruyette downgraded its Heritage Financial Corporation [HFWA] rating to a Mkt perform from a an Outperform in a research note published on Friday, April 24, 2023; the price target was decreased to $23 from $31. PT values the company’s stock at a premium of 23.22 to its Friday closing price.

Price Performance Review of HFWA

On Friday, Heritage Financial Corporation [NASDAQ:HFWA] saw its stock jump 2.56% to $17.66. On the same session, the stock had its day’s lowest price of $17.31, but rose to a high of $17.73. Over the last five days, the stock has gained 2.56%. Heritage Financial Corporation shares have fallen nearly -42.36% since the year began. Nevertheless, the stocks have fallen -32.05% over the past one year. While a 52-week high of $34.34 was reached on 01/04/23, a 52-week low of $14.85 was recorded on 05/04/23. SMA at 50 days reached $17.60, while 200 days put it at $22.72. A total of 0.12 million shares were traded, compared to the trading of 0.14 million shares in the previous session.

Levels Of Support And Resistance For HFWA Stock

The 24-hour chart illustrates a support level at 17.40, which if violated will result in even more drops to 17.15. On the upside, there is a resistance level at 17.82. A further resistance level may holdings at 17.99. The Relative Strength Index (RSI) on the 14-day chart is 49.23, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 40.65%. Stochastics %K at 32.93% indicates the stock is a holding.

How much short interest is there in Heritage Financial Corporation?

A steep rise in short interest was recorded in Heritage Financial Corporation stocks on Aug 14, 2023, growing by 73760.0 shares to a total of 0.89 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.82 million shares. There was a rise of 8.24%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.03% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.37.

Heritage Financial Corporation [HFWA] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 4,814,606 shares, or roughly 13.73% of the outstanding HFWA shares. In other words, the investor’s shares have fallen by -83,623 from its previous 13-F filing of 4898229.0. Additionally, The Vanguard Group, Inc. increased 0.14% of its stake after which the total value it holdings stand at $48,450,289, while AllianceBernstein LP added 12.39% of its stake to hold $35.99 million in the firm. Over the last quarter, Dimensional Fund Advisors LP sold -251,380 shares of Heritage Financial Corporation, while SSgA Funds Management, Inc. sold 115,217 shares. At present, Goldman Sachs Asset Management LP is holding 1,018,225 shares valued at $19.1 million. Charles Schwab Investment Managem owned 937,633 shares of the company at the time of its most recent 13F filing, worth $17.59 million.

According to FactSet, Heritage Financial Corporation’s share price will average $21.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 21.95 percent from its previous closing price of $17.22. Analysts expect Heritage Financial Corporation stock to reach the higher price of $22.00, while the lowest price estimate is $20.00. However, 6 analysts have rated HFWA stock as an Overweight in their predictions for 2023.


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