Keefe, Bruyette & Woods Reports on Heritage Financial (HBOS)

Keefe, Bruyette & Woods commented on Heritage Financial HBOS in a report released today. In the report, Keefe, Bruyette & Woods was slightly positive in its outlook of the company. Keefe writes, “Heritage took a $2.0 mm charge-off from a specific reserve, which took the LLR down to 1.5% from 2.0% last qtr. The BPO gain added $0.17/shr in earnings, but was lower than our initial estimate. That said, HBOS remains extremely well capitalized with a TCE of 12.3%. We are raising our EPS estimates, but maintain our price target and Market Perform rating.” Keefe, Bruyette & Woods currently has a Market Perform rating on Heritage Financial and a price target of $15.00. Shares of HBOS closed the trading day yesterday at $12.00, down $0.01 from the opening bell.