Key Points
- Director Frederick Rivera sold 1,300 Heritage Financial shares at an average price of $28.57, generating approximately $37,141. After the sale, he retained 5,890 shares, an 18.08% reduction in his position.
- Heritage Financial recently reported quarterly EPS of $0.57, exceeding analyst expectations of $0.44, while revenue of $84.12 million fell short of estimates. The company’s shares opened at $28.51, with a market capitalization of approximately $1.17 billion.
- The company raised its quarterly dividend to $0.25, equivalent to an annualized $1.00 dividend and a 3.5% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $32.50.
Heritage Financial Corporation (NASDAQ:HFWA - Get Free Report) Director Frederick Rivera sold 1,300 shares of Heritage Financial stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $28.57, for a total transaction of $37,141.00. Following the transaction, the director owned 5,890 shares in the company, valued at approximately $168,277.30. This trade represents a 18.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Heritage Financial Stock Down 0.1%
Shares of HFWA opened at $28.51 on Wednesday. The business's 50 day moving average is $29.45 and its 200 day moving average is $27.93. The company has a market capitalization of $1.17 billion, a PE ratio of 13.58 and a beta of 0.48. Heritage Financial Corporation has a 12-month low of $21.32 and a 12-month high of $31.25. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.17.
Heritage Financial (NASDAQ:HFWA - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.13. Heritage Financial had a net margin of 20.44% and a return on equity of 8.78%. The firm had revenue of $84.12 million for the quarter, compared to analysts' expectations of $86.30 million. Research analysts expect that Heritage Financial Corporation will post 2.37 earnings per share for the current fiscal year.
Heritage Financial Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th were issued a $0.25 dividend. The ex-dividend date was Wednesday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. This is an increase from Heritage Financial's previous quarterly dividend of $0.24. Heritage Financial's payout ratio is presently 47.62%.
Institutional Investors Weigh In On Heritage Financial
Several large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Heritage Financial during the second quarter valued at $172,125,000. Basswood Capital Management L.L.C. bought a new position in Heritage Financial during the second quarter valued at $20,408,000. Algebris UK Ltd. bought a new position in Heritage Financial during the second quarter valued at $13,860,000. Bank of New York Mellon Corp purchased a new position in shares of Heritage Financial in the 2nd quarter worth $11,817,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Heritage Financial in the 2nd quarter worth $9,142,000. Institutional investors own 78.30% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Stephens boosted their price target on shares of Heritage Financial from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 28th. Zacks Research upgraded Heritage Financial from a "strong sell" rating to a "hold" rating in a research report on Friday, June 26th. Keefe, Bruyette & Woods lifted their target price on Heritage Financial from $31.00 to $32.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. DA Davidson boosted their target price on Heritage Financial from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Heritage Financial in a research report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.50.
Get Our Latest Report on HFWA
About Heritage Financial
(
Get Free Report)
Heritage Financial Corporation (NASDAQ: HFWA) is a bank holding company headquartered in Olympia, Washington. Through its principal subsidiary, Heritage Bank, the company provides a range of banking and financial services to businesses, individuals, and organizations in communities across Washington and Oregon.
Heritage Bank's offerings include commercial and industrial lending, commercial real estate and construction loans, residential real estate financing, consumer loans, deposit accounts, cash-management services, online and mobile banking, and other treasury-management solutions.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
