Tony Chalfant Sells 2,975 Shares of Heritage Financial Co. (NASDAQ:HFWA) Stock

Heritage Financial Co. (NASDAQ:HFWA) EVP Tony Chalfant sold 2,975 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.50, for a total transaction of $78,837.50. Following the completion of the transaction, the executive vice president now directly owns 20,119 shares of the company’s stock, valued at approximately $533,153.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Heritage Financial Trading Down 4.5 %

Shares of NASDAQ:HFWA traded down $1.22 on Thursday, hitting $26.06. The company had a trading volume of 240,941 shares, compared to its average volume of 185,358. The firm’s 50-day simple moving average is $22.16 and its two-hundred day simple moving average is $20.31. Heritage Financial Co. has a 1 year low of $16.38 and a 1 year high of $27.43. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $898.97 million, a price-to-earnings ratio of 25.26 and a beta of 0.52.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). Heritage Financial had a net margin of 12.27% and a return on equity of 7.01%. The firm had revenue of $81.65 million for the quarter, compared to the consensus estimate of $58.17 million. During the same quarter in the prior year, the business posted $0.51 earnings per share. Equities analysts anticipate that Heritage Financial Co. will post 1.65 earnings per share for the current fiscal year.

Heritage Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Wednesday, November 6th. Heritage Financial’s dividend payout ratio is currently 85.19%.

Hedge Funds Weigh In On Heritage Financial

Several hedge funds have recently modified their holdings of HFWA. GAMMA Investing LLC lifted its holdings in shares of Heritage Financial by 133.7% in the second quarter. GAMMA Investing LLC now owns 1,374 shares of the financial services provider’s stock worth $25,000 after buying an additional 786 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Heritage Financial in the second quarter worth $25,000. Innealta Capital LLC bought a new stake in Heritage Financial in the second quarter worth $27,000. Point72 DIFC Ltd bought a new stake in Heritage Financial in the second quarter worth $27,000. Finally, Meeder Asset Management Inc. bought a new position in Heritage Financial during the second quarter valued at $31,000. Hedge funds and other institutional investors own 78.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on HFWA. Piper Sandler raised their price target on shares of Heritage Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Stephens lifted their price target on shares of Heritage Financial from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Heritage Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Heritage Financial has an average rating of “Hold” and a consensus price target of $25.00.

About Heritage Financial

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to small and medium sized businesses and individuals in the United States. It accepts various deposit products, such as noninterest demand deposits, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.