Key Points
- Director Frederick Rivera sold 1,800 shares of HFWA on Feb. 3 at an average price of $26.31 for $47,358, reducing his ownership by 26.58% to 4,972 shares (about $130,813).
- Heritage Financial beat quarterly expectations, reporting EPS $0.66 vs. $0.57 consensus and revenue of $66.35 million, with a 20.1% net margin and 8.61% return on equity.
- The company declared a quarterly dividend of $0.24 per share (annualized $0.96), a 3.6% yield, with an ex-dividend date of Jan. 28 and payment on Feb. 11.
Heritage Financial Corporation (NASDAQ:HFWA - Get Free Report) Director Frederick Rivera sold 1,800 shares of the company's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $26.31, for a total value of $47,358.00. Following the completion of the transaction, the director directly owned 4,972 shares of the company's stock, valued at $130,813.32. This trade represents a 26.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Heritage Financial Stock Up 0.3%
HFWA stock opened at $26.52 on Wednesday. The stock has a market cap of $900.62 million, a P/E ratio of 13.53 and a beta of 0.53. The company has a current ratio of 0.83, a quick ratio of 0.84 and a debt-to-equity ratio of 0.05. Heritage Financial Corporation has a twelve month low of $19.84 and a twelve month high of $28.35. The company's 50 day moving average is $24.87 and its two-hundred day moving average is $23.99.
Heritage Financial (NASDAQ:HFWA - Get Free Report) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.09. Heritage Financial had a net margin of 20.10% and a return on equity of 8.61%. The business had revenue of $66.35 million during the quarter, compared to analysts' expectations of $65.95 million. Research analysts expect that Heritage Financial Corporation will post 2.09 earnings per share for the current fiscal year.
Heritage Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, January 28th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, January 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.6%. Heritage Financial's payout ratio is 48.98%.
Institutional Investors Weigh In On Heritage Financial
Several large investors have recently modified their holdings of the stock. Algebris UK Ltd. acquired a new stake in Heritage Financial in the third quarter valued at about $10,775,000. State of Alaska Department of Revenue raised its stake in shares of Heritage Financial by 7.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 20,292 shares of the financial services provider's stock worth $483,000 after buying an additional 1,457 shares in the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of Heritage Financial by 61.0% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 70,514 shares of the financial services provider's stock valued at $1,706,000 after buying an additional 26,727 shares during the period. Jennison Associates LLC boosted its stake in shares of Heritage Financial by 8.2% in the second quarter. Jennison Associates LLC now owns 2,977,315 shares of the financial services provider's stock valued at $70,979,000 after buying an additional 225,201 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Heritage Financial by 13.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 504,509 shares of the financial services provider's stock valued at $12,027,000 after buying an additional 59,633 shares in the last quarter. Hedge funds and other institutional investors own 78.30% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on HFWA. Weiss Ratings restated a "hold (c)" rating on shares of Heritage Financial in a research note on Thursday, January 22nd. Zacks Research downgraded Heritage Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 25th. Wall Street Zen upgraded shares of Heritage Financial from a "sell" rating to a "hold" rating in a research report on Saturday, November 15th. DA Davidson upped their price target on shares of Heritage Financial from $29.00 to $32.00 and gave the company a "buy" rating in a research report on Friday, January 23rd. Finally, Stephens increased their price target on shares of Heritage Financial from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Monday, January 26th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $30.25.
Get Our Latest Stock 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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