Heritage Financial (NASDAQ:HFWA) Reaches New 52-Week High – What’s Next?

Shares of Heritage Financial Corporation (NASDAQ:HFWA) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $30.72 and last traded at $30.8460, with a volume of 14735 shares. The stock had previously closed at $30.18.

Wall Street Analyst Weigh In

Several research firms recently commented on HFWA. Weiss Ratings reiterated a “buy (b)” rating on shares of Heritage Financial in a research note on Tuesday, July 7th. Zacks Research upgraded Heritage Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Wall Street Zen raised shares of Heritage Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Piper Sandler cut their price objective on shares of Heritage Financial from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, April 27th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.50.

Heritage Financial Stock Performance

The stock has a market cap of $1.26 billion, a PE ratio of 14.96 and a beta of 0.49. The stock has a fifty day simple moving average of $28.28 and a two-hundred day simple moving average of $26.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.81 and a current ratio of 0.81.

Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Heritage Financial had a net margin of 20.50% and a return on equity of 8.71%. The company had revenue of $77.92 million for the quarter, compared to analyst estimates of $80.31 million. Equities analysts anticipate that Heritage Financial Corporation will post 2.39 EPS for the current fiscal year.

Heritage Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, May 6th. Heritage Financial’s dividend payout ratio (DPR) is currently 47.06%.

Insider Buying and Selling

In other news, CFO Donald Hinson sold 3,842 shares of Heritage Financial stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $28.37, for a total value of $108,997.54. Following the completion of the transaction, the chief financial officer owned 41,241 shares in the company, valued at approximately $1,170,007.17. This trade represents a 8.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.49% of the company’s stock.

Institutional Trading of Heritage Financial

Several institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its position in shares of Heritage Financial by 27,871.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,958 shares of the financial services provider’s stock worth $47,000 after buying an additional 1,951 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Heritage Financial by 99.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the financial services provider’s stock valued at $69,000 after buying an additional 1,431 shares during the last quarter. GAMMA Investing LLC raised its stake in Heritage Financial by 20.8% during the fourth quarter. GAMMA Investing LLC now owns 5,171 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 891 shares during the period. CWM LLC raised its stake in Heritage Financial by 7.7% during the fourth quarter. CWM LLC now owns 8,249 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 592 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Heritage Financial by 117.1% in the third quarter. BNP Paribas Financial Markets now owns 8,457 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 4,561 shares during the last quarter. Institutional investors own 78.30% of the company’s stock.

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.