Deprince Race & Zollo Inc. Purchases 50,353 Shares of Heritage Financial Corporation $HFWA

Key Points

• Deprince Race & Zollo Inc. boosted its stake in Heritage Financial by 71.4% in Q4, buying 50,353 shares to own 120,867 shares valued at $2.859M, while institutional investors now hold 78.30% of HFWA.
• Company insiders sold 8,368 shares worth $226,740 in the last quarter — including EVP Tony Chalfant's sale of 4,668 shares — leaving insiders with 1.49% ownership.
• Analysts have a consensus “Moderate Buy” rating with an average price target of $31 after Heritage beat Q results (EPS $0.66 vs. $0.57); the company also pays a $0.96 annual dividend (3.5% yield).

Deprince Race & Zollo Inc. increased its position in shares of Heritage Financial Corporation (NASDAQ:HFWA - Free Report) by 71.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 120,867 shares of the financial services provider's stock after buying an additional 50,353 shares during the period. Deprince Race & Zollo Inc. owned 0.36% of Heritage Financial worth $2,859,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of HFWA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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. Empowered Funds LLC increased its stake in Heritage Financial by 4.2% in the first quarter. Empowered Funds LLC now owns 123,798 shares of the financial services provider's stock valued at $3,012,000 after purchasing an additional 4,947 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Heritage Financial by 7.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 78,130 shares of the financial services provider's stock valued at $1,901,000 after purchasing an additional 5,417 shares in the last quarter. Jane Street Group LLC increased its stake in Heritage Financial by 437.3% in the first quarter. Jane Street Group LLC now owns 107,482 shares of the financial services provider's stock valued at $2,615,000 after purchasing an additional 87,479 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Heritage Financial by 27,871.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,958 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 1,951 shares in the last quarter. Institutional investors own 78.30% of the company's stock.

Insider Activity at Heritage Financial

In related news, EVP Tony Chalfant sold 4,668 shares of the firm's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $27.65, for a total value of $129,070.20. Following the transaction, the executive vice president owned 19,870 shares of the company's stock, valued at approximately $549,405.50. This trade represents a 19.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Ann Wilson sold 1,900 shares of the firm's stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $26.48, for a total transaction of $50,312.00. Following the completion of the transaction, the executive vice president directly owned 3,778 shares in the company, valued at approximately $100,041.44. The trade was a 33.46% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 8,368 shares of company stock valued at $226,740. 1.49% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Weiss Ratings raised shares of Heritage Financial from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, March 2nd. Wall Street Zen raised shares of Heritage Financial from a "sell" rating to a "hold" rating in a research note on Saturday, April 4th. Piper Sandler decreased their price target on shares of Heritage Financial from $35.00 to $34.00 and set an "overweight" rating for the company in a research note on Thursday, April 2nd. DA Davidson lifted their price target on shares of Heritage Financial from $29.00 to $32.00 and gave the company a "buy" rating in a research note on Friday, January 23rd. Finally, Stephens lifted their price target on shares of Heritage Financial from $28.00 to $30.00 and gave the company an "equal weight" rating in a research note on Monday, January 26th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

Heritage Financial Trading Down 0.3%

HFWA opened at $27.22 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.83 and a quick ratio of 0.83. Heritage Financial Corporation has a fifty-two week low of $20.56 and a fifty-two week high of $28.98. The firm has a market capitalization of $1.12 billion, a PE ratio of 13.89 and a beta of 0.49. The company's 50-day moving average is $26.52 and its 200 day moving average is $24.88.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.66 earnings per share 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 for the quarter, compared to analysts' expectations of $65.95 million. As a group, research analysts predict that Heritage Financial Corporation will post 2.09 earnings per share for the current fiscal year.

Heritage Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were given a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $0.96 annualized dividend and a yield of 3.5%. Heritage Financial's dividend payout ratio (DPR) is presently 48.98%.

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.

Want to see what other hedge funds are holding HFWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Heritage Financial Corporation (NASDAQ:HFWA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.