Donald Hinson Sells 3,842 Shares of Heritage Financial (NASDAQ:HFWA) Stock

Heritage Financial Corporation (NASDAQ:HFWA) CFO Donald Hinson sold 3,842 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $28.37, for a total transaction of $108,997.54. Following the transaction, the chief financial officer owned 41,241 shares in the company, valued at $1,170,007.17. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Heritage Financial Price Performance

Shares of HFWA stock opened at $28.82 on Friday. Heritage Financial Corporation has a 1 year low of $21.32 and a 1 year high of $28.99. The firm’s 50 day moving average is $27.19 and its 200-day moving average is $26.12. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 14.13 and a beta of 0.49. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.04.

Heritage Financial (NASDAQ:HFWA) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Heritage Financial had a net margin of 20.50% and a return on equity of 8.71%. The company had revenue of $77.92 million for the quarter, compared to analyst estimates of $80.31 million. Sell-side analysts forecast that Heritage Financial Corporation will post 2.39 EPS for the current fiscal year.

Heritage Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Wednesday, May 6th. Heritage Financial’s dividend payout ratio is presently 47.06%.

Institutional Investors Weigh In On Heritage Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Illinois Municipal Retirement Fund raised its stake in shares of Heritage Financial by 2.9% during the first quarter. Illinois Municipal Retirement Fund now owns 18,381 shares of the financial services provider’s stock worth $478,000 after buying an additional 514 shares during the last quarter. CWM LLC raised its stake in shares of Heritage Financial by 7.7% during the fourth quarter. CWM LLC now owns 8,249 shares of the financial services provider’s stock worth $195,000 after buying an additional 592 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Heritage Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,060 shares of the financial services provider’s stock worth $488,000 after buying an additional 881 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Heritage Financial by 20.8% during the fourth quarter. GAMMA Investing LLC now owns 5,171 shares of the financial services provider’s stock worth $122,000 after buying an additional 891 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in Heritage Financial by 2.7% in the third quarter. Intech Investment Management LLC now owns 35,891 shares of the financial services provider’s stock valued at $868,000 after purchasing an additional 960 shares in the last quarter. 78.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HFWA. Weiss Ratings upgraded shares of Heritage Financial from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Piper Sandler reduced their target price on shares of Heritage Financial from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Zacks Research downgraded shares of Heritage Financial from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 30th. 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 analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.50.

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.