Heritage Financial (NASDAQ:HFWA) CFO Sells $108,997.54 in Stock

Heritage Financial Corporation (NASDAQ:HFWA) 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 sale, the chief financial officer directly owned 41,241 shares in the company, valued at approximately $1,170,007.17. The trade was a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Heritage Financial Stock Performance

NASDAQ:HFWA opened at $29.04 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.81 and a quick ratio of 0.81. Heritage Financial Corporation has a 1 year low of $21.32 and a 1 year high of $29.12. The stock’s 50 day simple moving average is $27.25 and its two-hundred day simple moving average is $26.14. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 14.24 and a beta of 0.49.

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

Heritage Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.96 annualized dividend and a dividend yield of 3.3%. Heritage Financial’s payout ratio is currently 47.06%.

Hedge Funds Weigh In On Heritage Financial

Hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 worth $488,000 after buying an additional 881 shares during the period. Empowered Funds LLC lifted its holdings in shares of 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 buying an additional 4,947 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of 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 buying an additional 5,417 shares during the period. Jane Street Group LLC lifted its holdings in shares of Heritage Financial by 437.3% in the 1st quarter. Jane Street Group LLC now owns 107,482 shares of the financial services provider’s stock worth $2,615,000 after buying an additional 87,479 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 period. Institutional investors own 78.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Zacks Research downgraded Heritage Financial from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 30th. Piper Sandler cut their target price on Heritage Financial from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Weiss Ratings raised Heritage Financial from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Finally, Wall Street Zen raised Heritage Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $30.50.

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.