Martin & Co. Inc. TN acquired a new stake in Heritage Financial Corporation (NASDAQ:HFWA - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 136,107 shares of the financial services provider's stock, valued at approximately $4,031,000. Martin & Co. Inc. TN owned approximately 0.33% of Heritage Financial at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. EP Wealth Advisors LLC purchased a new stake in shares of Heritage Financial during the second quarter worth $535,000. Heartland Advisors Inc. bought a new position in shares of Heritage Financial in the second quarter worth $8,146,000. Allworth Financial LP purchased a new position in shares of Heritage Financial in the second quarter valued at $40,000. Algebris UK Ltd. purchased a new position in shares of Heritage Financial in the second quarter valued at $13,860,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Heritage Financial during the 2nd quarter valued at $4,606,000. Institutional investors own 78.30% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on HFWA. Weiss Ratings reissued a "buy (b)" rating on shares of Heritage Financial in a report on Tuesday, July 7th. Piper Sandler reduced their target price on Heritage Financial from $34.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, April 27th. DA Davidson upped their price target on Heritage Financial from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Stephens increased their price target 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. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Heritage Financial from $31.00 to $32.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Heritage Financial presently has an average rating of "Moderate Buy" and a consensus price target of $32.50.
Check Out Our Latest Stock Report on Heritage Financial
Heritage Financial Price Performance
Shares of NASDAQ HFWA opened at $29.10 on Friday. The firm has a market capitalization of $1.19 billion, a P/E ratio of 13.86 and a beta of 0.50. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.17. The stock's 50-day simple moving average is $29.51 and its two-hundred day simple moving average is $27.80. Heritage Financial Corporation has a twelve month low of $21.32 and a twelve month high of $31.25.
Heritage Financial (NASDAQ:HFWA - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.13. Heritage Financial had a return on equity of 8.78% and a net margin of 20.44%.The firm had revenue of $84.12 million during the quarter, compared to the consensus estimate of $86.30 million. As a group, equities analysts anticipate that Heritage Financial Corporation will post 2.37 EPS for the current fiscal year.
Heritage Financial Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were paid a $0.25 dividend. This is an increase from Heritage Financial's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 5th. Heritage Financial's payout ratio is 47.62%.
Insider Buying and Selling at Heritage Financial
In other Heritage Financial news, EVP Matthew T. 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 value of $111,129.20. Following the completion of the transaction, the executive vice president owned 22,735 shares of the company's stock, valued at $684,323.50. The trade was a 13.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Ann Wilson sold 3,778 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $29.69, for a total transaction of $112,168.82. Following the completion of the transaction, the executive vice president directly owned 3,099 shares of the company's stock, valued at approximately $92,009.31. This represents a 54.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,546 shares of company stock valued at $729,057 over the last quarter. Company insiders own 1.49% of the company's stock.
About Heritage Financial
(
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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