Heritage Financial (NASDAQ:HFWA) Shares Break Below Fifty Day Moving Average – Should You Sell?

Heritage Financial Corporation (NASDAQ:HFWA) shares crossed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $28.24 and traded as low as $28.06. Heritage Financial shares last traded at $28.19, with a volume of 187,784 shares trading hands.

Analyst Ratings Changes

HFWA has been the topic of a number of research analyst reports. Brean Capital raised shares of Heritage Financial from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Tuesday, September 22nd. Keefe, Bruyette & Woods increased their target price on shares of Heritage Financial from $31.00 to $32.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Heritage Financial in a report on Friday, October 2nd. DA Davidson lifted their price target on shares of Heritage Financial from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, Zacks Research raised Heritage Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 22nd. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

Heritage Financial Price Performance

The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 14.02 and a beta of 0.53. The company has a fifty day simple moving average of $28.24 and a two-hundred day simple moving average of $27.89.

Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $86.51 million during the quarter, compared to analysts’ expectations of $86.11 million. Heritage Financial had a return on equity of 8.70% and a net margin of 19.24%. On average, equities research analysts anticipate that Heritage Financial Corporation will post 2.32 earnings per share for the current fiscal year.

Heritage Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Wednesday, November 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, November 4th. Heritage Financial’s dividend payout ratio is presently 49.75%.

Insiders Place Their Bets

In other Heritage Financial news, Director Frederick Rivera sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $28.57, for a total transaction of $37,141.00. Following the completion of the transaction, the director directly owned 5,890 shares in the company, valued at approximately $168,277.30. This trade represents a 18.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.49% of the company’s stock.

Institutional Trading of Heritage Financial

Several institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP acquired a new stake in shares of Heritage Financial in the second quarter valued at approximately $40,000. Integrated Wealth Concepts LLC purchased a new position in shares of Heritage Financial during the 2nd quarter worth approximately $68,000. Global Retirement Partners LLC acquired a new position in shares of Heritage Financial during the 2nd quarter worth approximately $95,000. GAMMA Investing LLC raised its position in shares of Heritage Financial by 12.2% during the 2nd quarter. GAMMA Investing LLC now owns 6,519 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 710 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Heritage Financial during the 2nd quarter worth approximately $214,000. Hedge funds and other institutional investors own 78.30% of the company’s stock.

Heritage Financial Company Profile

Heritage Financial Corporation is a bank holding company whose principal subsidiary, Heritage Bank, provides commercial and consumer banking services. Its offerings include business and personal deposit accounts, commercial and residential lending, mortgage services, cash management and other banking services. The company serves individuals, businesses and organizations in Washington and Oregon, with a focus on communities in the Pacific Northwest. Its services include financing for businesses and real estate, as well as everyday banking and digital account services.