Heritage Financial (NASDAQ:HFWA) EVP Tony Chalfant Sells 3,234 Shares

Heritage Financial Corporation (NASDAQ:HFWA) EVP Tony Chalfant sold 3,234 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $29.92, for a total transaction of $96,761.28. Following the completion of the sale, the executive vice president owned 20,362 shares in the company, valued at $609,231.04. This represents a 13.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Heritage Financial Stock Down 1.7%

Shares of Heritage Financial stock opened at $30.01 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.24 billion, a P/E ratio of 14.29 and a beta of 0.50. The firm’s 50 day moving average price is $29.12 and its 200-day moving average price is $27.51. Heritage Financial Corporation has a 52-week low of $21.32 and a 52-week high of $31.25.

Heritage Financial (NASDAQ:HFWA) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.13. The company had revenue of $84.13 million during 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%. On average, sell-side analysts predict that Heritage Financial Corporation will post 2.37 EPS for the current fiscal year.

Heritage Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This is a boost from Heritage Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.3%. Heritage Financial’s payout ratio is currently 47.62%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HFWA shares. Zacks Research raised Heritage Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. DA Davidson upped their target price on Heritage Financial from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Heritage Financial in a research note on Tuesday, July 7th. Piper Sandler lowered their price target on Heritage Financial from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Finally, Wall Street Zen upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.50.

Institutional Investors Weigh In On Heritage Financial

Several institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Heritage Financial by 4.6% during the first 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 last quarter. Empowered Funds LLC raised its stake in Heritage Financial by 4.2% in 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Heritage Financial by 7.4% in the 1st 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 worth $1,901,000 after acquiring an additional 5,417 shares during the last quarter. Jane Street Group LLC lifted its position in Heritage Financial by 437.3% during the 1st quarter. Jane Street Group LLC now owns 107,482 shares of the financial services provider’s stock worth $2,615,000 after acquiring an additional 87,479 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Heritage Financial by 27,871.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,958 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 1,951 shares during the period. 78.30% of the stock is currently owned by institutional investors and hedge funds.

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.