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

by · The Cerbat Gem

Heritage Financial Corporation (NASDAQ:HFWA – Get Free Report) EVP Tony Chalfant sold 3,234 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $609,231.04. This represents a 13.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Heritage Financial Stock Down 1.7%

Shares of Heritage Financial stock traded down $0.52 during trading hours on Wednesday, hitting $30.01. The company had a trading volume of 362,155 shares, compared to its average volume of 316,818. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.83 and a quick ratio of 0.81. The company’s 50-day moving average is $29.07 and its two-hundred day moving average is $27.48. The company has a market cap of $1.24 billion, a P/E ratio of 14.29 and a beta of 0.50. Heritage Financial Corporation has a twelve month low of $21.32 and a twelve month high of $31.25.

Heritage Financial (NASDAQ:HFWA – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.44 by $0.13. Heritage Financial had a net margin of 20.44% and a return on equity of 8.78%. The firm had revenue of $84.13 million for the quarter, compared to analyst estimates of $86.30 million. Analysts anticipate 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 will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 3.3%. Heritage Financial’s dividend payout ratio is 45.71%.

Hedge Funds Weigh In On Heritage Financial

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in Heritage Financial by 12.2% during the 2nd quarter. GAMMA Investing LLC now owns 6,519 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 710 shares during the last quarter. Rhino Investment Partners Inc grew its stake in shares of Heritage Financial by 77.7% in the 1st quarter. Rhino Investment Partners Inc now owns 330,459 shares of the financial services provider’s stock valued at $8,592,000 after purchasing an additional 144,515 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Heritage Financial by 8.9% in the 1st quarter. Empowered Funds LLC now owns 166,079 shares of the financial services provider’s stock valued at $4,318,000 after purchasing an additional 13,564 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Heritage Financial by 29.9% in the first quarter. Quantinno Capital Management LP now owns 55,145 shares of the financial services provider’s stock valued at $1,434,000 after purchasing an additional 12,685 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of Heritage Financial by 21.7% in the first quarter. Lazard Asset Management LLC now owns 40,326 shares of the financial services provider’s stock valued at $1,048,000 after purchasing an additional 7,197 shares during the period. Institutional investors and hedge funds own 78.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HFWA shares. Zacks Research raised Heritage Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. DA Davidson raised their price target on Heritage Financial from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Keefe, Bruyette & Woods lifted their price target on Heritage Financial from $31.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Piper Sandler reduced their price objective on Heritage Financial from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Heritage Financial in a report on Tuesday, July 7th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $32.50.

Check Out Our Latest Research Report on HFWA

Heritage Financial Company Profile

(Get Free Report)

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.

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