31,917 Shares in Heritage Financial Corporation $HFWA Purchased by Odyssean LLC

Odyssean LLC acquired a new position in shares of Heritage Financial Corporation (NASDAQ:HFWA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,917 shares of the financial services provider’s stock, valued at approximately $945,000.

A number of other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Heritage Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,060 shares of the financial services provider’s stock valued at $488,000 after buying an additional 881 shares during the period. Empowered Funds LLC boosted its position in shares of Heritage Financial by 4.2% during the 1st quarter. Empowered Funds LLC now owns 123,798 shares of the financial services provider’s stock worth $3,012,000 after acquiring an additional 4,947 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Heritage Financial by 7.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 78,130 shares of the financial services provider’s stock valued at $1,901,000 after acquiring an additional 5,417 shares during the last quarter. Jane Street Group LLC raised its position in Heritage Financial by 437.3% during the first quarter. Jane Street Group LLC now owns 107,482 shares of the financial services provider’s stock valued at $2,615,000 after purchasing an additional 87,479 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Heritage Financial by 27,871.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,958 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,951 shares in the last quarter. 78.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Heritage Financial

In related news, EVP Tony Chalfant sold 3,234 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $29.92, for a total transaction of $96,761.28. Following the sale, the executive vice president owned 20,362 shares in the company, valued at $609,231.04. The trade was a 13.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kelli Ann Wilson sold 3,778 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $29.69, for a total value of $112,168.82. Following the completion of the transaction, the executive vice president directly owned 3,099 shares of the company’s stock, valued at approximately $92,009.31. The trade was a 54.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,546 shares of company stock worth $729,057 over the last 90 days. 1.49% of the stock is currently owned by company insiders.

Heritage Financial Price Performance

Shares of NASDAQ:HFWA opened at $28.74 on Thursday. Heritage Financial Corporation has a one year low of $21.32 and a one year high of $31.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 13.69 and a beta of 0.50. The firm has a 50 day simple moving average of $29.56 and a 200 day simple moving average of $27.85.

Heritage Financial (NASDAQ:HFWA) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.13. The firm had revenue of $84.12 million for the quarter, compared to analysts’ expectations of $86.30 million. Heritage Financial had a net margin of 20.44% and a return on equity of 8.78%. Research analysts predict that Heritage Financial Corporation will post 2.37 earnings per share for the current fiscal year.

Heritage Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were issued a dividend of $0.25 per share. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 3.5%. Heritage Financial’s dividend payout ratio (DPR) is 47.62%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Stephens upped their target price on Heritage Financial from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Heritage Financial in a report on Tuesday, July 7th. Wall Street Zen upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. DA Davidson raised their price objective on Heritage Financial from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Keefe, Bruyette & Woods lifted their target price on Heritage Financial from $31.00 to $32.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Heritage Financial currently has an average rating of “Moderate Buy” and an average price target of $32.50.

Heritage Financial Company Profile

Heritage Financial Corporation (NASDAQ:HFWA) is a bank holding company headquartered in Spokane, Washington. Through its primary subsidiary, Heritage Bank, the company provides a comprehensive range of banking and financial services to both individual and commercial clients. Heritage Bank’s offerings encompass deposit products, lending solutions, treasury and cash management services, mortgage banking, and wealth management, positioning the organization as a full-service community bank.

The company’s lending portfolio includes commercial real estate loans, agricultural loans, small business administration (SBA) loans, construction and development financing, and a variety of consumer mortgage products.