Heritage Financial Corporation (NASDAQ:HFWA – Get Free Report) EVP Matthew Ray sold 3,692 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $30.10, for a total transaction of $111,129.20. Following the transaction, the executive vice president owned 22,735 shares of the company’s stock, valued at approximately $684,323.50. This represents a 13.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Heritage Financial Trading Up 0.8%
NASDAQ:HFWA traded up $0.24 during trading hours on Thursday, hitting $30.03. The stock had a trading volume of 65,613 shares, compared to its average volume of 317,403. The business’s 50 day moving average is $29.37 and its 200-day moving average is $27.64. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.81 and a current ratio of 0.83. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 14.29 and a beta of 0.50. Heritage Financial Corporation has a one year low of $21.32 and a one year high of $31.25.
Heritage Financial (NASDAQ:HFWA – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.13. The business had revenue of $84.12 million during the quarter, compared to analysts’ expectations of $86.30 million. Heritage Financial had a net margin of 20.44% and a return on equity of 8.78%. Sell-side analysts anticipate that Heritage Financial Corporation will post 2.37 EPS for the current fiscal year.
Heritage Financial Increases Dividend
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on HFWA. Weiss Ratings reiterated a “buy (b)” rating on shares of Heritage Financial in a research report on Tuesday, July 7th. Stephens raised their target price on shares of Heritage Financial from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 28th. Wall Street Zen upgraded shares of Heritage Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research raised shares of Heritage Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Heritage Financial from $31.00 to $32.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Heritage Financial presently has a consensus rating of “Moderate Buy” and an average price target of $32.50.
Check Out Our Latest Stock Analysis on HFWA
Institutional Trading of Heritage Financial
Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Heritage Financial during the 2nd quarter worth about $172,125,000. Jennison Associates LLC lifted its position in shares of Heritage Financial by 3.4% in the first quarter. Jennison Associates LLC now owns 3,213,473 shares of the financial services provider’s stock valued at $83,550,000 after buying an additional 106,308 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Heritage Financial by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 2,412,325 shares of the financial services provider’s stock valued at $57,051,000 after buying an additional 45,422 shares during the last quarter. State Street Corp boosted its stake in shares of Heritage Financial by 3.2% during the 4th quarter. State Street Corp now owns 1,573,458 shares of the financial services provider’s stock worth $37,212,000 after acquiring an additional 48,765 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Heritage Financial by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 842,598 shares of the financial services provider’s stock worth $19,929,000 after acquiring an additional 4,170 shares during 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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