Bank of America Corp DE Has $3.62 Million Stock Position in Heritage Financial Co. (NASDAQ:HFWA)

Bank of America Corp DE boosted its holdings in Heritage Financial Co. (NASDAQ:HFWA - Free Report) by 45.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 147,887 shares of the financial services provider's stock after buying an additional 46,260 shares during the period. Bank of America Corp DE owned approximately 0.43% of Heritage Financial worth $3,623,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sterling Capital Management LLC increased its holdings in Heritage Financial by 794.1% in the fourth quarter. Sterling Capital Management LLC now owns 1,064 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 945 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Heritage Financial by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,901 shares of the financial services provider's stock worth $733,000 after buying an additional 1,914 shares during the period. MetLife Investment Management LLC increased its stake in shares of Heritage Financial by 10.2% in the 4th quarter. MetLife Investment Management LLC now owns 20,710 shares of the financial services provider's stock valued at $507,000 after acquiring an additional 1,917 shares during the last quarter. Keybank National Association OH increased its stake in shares of Heritage Financial by 5.2% in the 4th quarter. Keybank National Association OH now owns 49,841 shares of the financial services provider's stock valued at $1,221,000 after acquiring an additional 2,477 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Heritage Financial by 18.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,968 shares of the financial services provider's stock valued at $607,000 after acquiring an additional 3,814 shares during the period. 78.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jeffrey J. Deuel sold 7,033 shares of Heritage Financial stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.66, for a total value of $166,400.78. Following the sale, the chief executive officer now owns 70,906 shares of the company's stock, valued at approximately $1,677,635.96. This trade represents a 9.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Donald Hinson sold 3,420 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.59, for a total value of $80,677.80. Following the transaction, the chief financial officer now directly owns 42,087 shares of the company's stock, valued at approximately $992,832.33. This trade represents a 7.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,311 shares of company stock valued at $267,473. Company insiders own 1.90% of the company's stock.

Heritage Financial Stock Down 1.7%

Shares of NASDAQ:HFWA traded down $0.40 during trading on Wednesday, hitting $22.98. 123,028 shares of the company's stock traded hands, compared to its average volume of 214,709. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $22.90 and a 200-day moving average price of $24.14. Heritage Financial Co. has a 52 week low of $16.55 and a 52 week high of $27.58. The company has a market cap of $783.76 million, a price-to-earnings ratio of 18.53 and a beta of 0.55.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The firm had revenue of $57.59 million for the quarter, compared to the consensus estimate of $61.74 million. Heritage Financial had a net margin of 13.64% and a return on equity of 7.17%. As a group, research analysts forecast that Heritage Financial Co. will post 2.09 EPS for the current fiscal year.

Heritage Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were given a $0.24 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $0.96 annualized dividend and a yield of 4.18%. Heritage Financial's dividend payout ratio is currently 64.86%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HFWA. Piper Sandler decreased their price objective on shares of Heritage Financial from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price target on shares of Heritage Financial from $27.00 to $26.00 and set a "market perform" rating for the company in a report on Monday, April 28th.

Heritage Financial Profile

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to small and medium sized businesses and individuals in the United States. It accepts various deposit products, such as noninterest demand deposits, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.