Heritage Financial (NASDAQ:HFWA) EVP Tony Chalfant Sells 4,668 Shares

Heritage Financial Corporation (NASDAQ:HFWA) EVP Tony Chalfant sold 4,668 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $27.65, for a total value of $129,070.20. Following the completion of the transaction, the executive vice president directly owned 19,870 shares in the company, valued at approximately $549,405.50. The trade was a 19.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Heritage Financial Stock Up 0.2%

Shares of NASDAQ:HFWA traded up $0.06 during midday trading on Wednesday, reaching $27.80. The company had a trading volume of 241,105 shares, compared to its average volume of 270,572. The stock has a market capitalization of $944.09 million, a P/E ratio of 14.18 and a beta of 0.53. The stock’s fifty day moving average price is $25.24 and its 200-day moving average price is $24.11. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.83 and a quick ratio of 0.84. Heritage Financial Corporation has a one year low of $19.84 and a one year high of $28.44.

Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.09. The firm had revenue of $66.35 million for the quarter, compared to the consensus estimate of $65.95 million. Heritage Financial had a net margin of 20.10% and a return on equity of 8.61%. Equities research analysts expect that Heritage Financial Corporation will post 2.09 earnings per share for the current fiscal year.

Heritage Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, January 28th. Heritage Financial’s dividend payout ratio (DPR) is 48.98%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. DA Davidson increased their target price on Heritage Financial from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Piper Sandler upped their price target on Heritage Financial from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Zacks Research downgraded shares of Heritage Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Heritage Financial in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Heritage Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Heritage Financial has an average rating of “Hold” and a consensus target price of $31.25.

Hedge Funds Weigh In On Heritage Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC increased its holdings in shares of Heritage Financial by 10.7% in the 4th quarter. Empowered Funds LLC now owns 152,515 shares of the financial services provider’s stock worth $3,607,000 after acquiring an additional 14,780 shares during the period. Deutsche Bank AG grew its position in Heritage Financial by 7.7% in the 4th quarter. Deutsche Bank AG now owns 28,546 shares of the financial services provider’s stock worth $675,000 after purchasing an additional 2,036 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Heritage Financial by 38.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 189,644 shares of the financial services provider’s stock worth $4,485,000 after purchasing an additional 52,913 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Heritage Financial by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 842,598 shares of the financial services provider’s stock valued at $19,929,000 after purchasing an additional 4,170 shares during the period. Finally, Algebris UK Ltd. raised its holdings in shares of Heritage Financial by 16.8% during the fourth quarter. Algebris UK Ltd. now owns 520,686 shares of the financial services provider’s stock valued at $12,320,000 after buying an additional 74,926 shares during the last quarter. Institutional investors and hedge funds 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.