Heritage Financial Corporation (NASDAQ:HFWA – Get Free Report)’s stock price hit a new 52-week high on Thursday . The company traded as high as $28.99 and last traded at $28.86, with a volume of 5449 shares. The stock had previously closed at $28.34.
Analysts Set New Price Targets
HFWA has been the subject of a number of research reports. Weiss Ratings upgraded shares of Heritage Financial from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Zacks Research lowered shares of Heritage Financial from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 30th. Piper Sandler decreased their price objective on shares of 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, Wall Street Zen raised shares of Heritage Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.50.
Get Our Latest Stock Report on Heritage Financial
Heritage Financial Stock Down 0.6%
Heritage Financial (NASDAQ:HFWA – Get Free Report) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $77.92 million for the quarter, compared to the consensus estimate of $80.31 million. Heritage Financial had a net margin of 20.50% and a return on equity of 8.71%. As a group, equities research analysts forecast that Heritage Financial Corporation will post 2.39 EPS for the current year.
Heritage Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, May 6th. Heritage Financial’s dividend payout ratio (DPR) is currently 47.06%.
Insider Transactions at Heritage Financial
In other Heritage Financial news, CFO Donald Hinson sold 3,842 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $28.37, for a total value of $108,997.54. Following the sale, the chief financial officer directly owned 41,241 shares in the company, valued at $1,170,007.17. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.49% of the stock is owned by corporate insiders.
Institutional Trading of Heritage Financial
Several institutional investors have recently made changes to their positions in the business. Illinois Municipal Retirement Fund boosted its position in shares of Heritage Financial by 2.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 18,381 shares of the financial services provider’s stock valued at $478,000 after acquiring an additional 514 shares in the last quarter. CWM LLC boosted its position in shares of Heritage Financial by 7.7% during the 4th quarter. CWM LLC now owns 8,249 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 592 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Heritage Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,060 shares of the financial services provider’s stock valued at $488,000 after acquiring an additional 881 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Heritage Financial by 20.8% during the 4th quarter. GAMMA Investing LLC now owns 5,171 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 891 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of Heritage Financial by 2.7% during the 3rd quarter. Intech Investment Management LLC now owns 35,891 shares of the financial services provider’s stock valued at $868,000 after acquiring an additional 960 shares in the last quarter. 78.30% of the stock is currently owned by institutional investors and hedge funds.
About Heritage Financial
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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