Deutsche Bank AG Invests $1.32 Million in Heritage Financial Corporation $HFWA

Key Points

• Deutsche Bank acquired a new 44,651-share stake in Heritage Financial worth approximately $1.32 million, while institutional investors collectively own 78.3% of the company.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and a consensus price target of $32.50, above the reported share price of $28.67.
• Heritage Financial exceeded quarterly earnings expectations with EPS of $0.57 versus the $0.44 consensus estimate and raised its quarterly dividend to $0.25 per share, equating to a 3.5% annual yield.

Deutsche Bank AG acquired a new stake in shares of Heritage Financial Corporation (NASDAQ:HFWA - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 44,651 shares of the financial services provider's stock, valued at approximately $1,323,000. Deutsche Bank AG owned approximately 0.11% of Heritage Financial as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of Heritage Financial by 27,871.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,958 shares of the financial services provider's stock worth $47,000 after acquiring an additional 1,951 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Heritage Financial by 99.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the financial services provider's stock valued at $69,000 after purchasing an additional 1,431 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Heritage Financial in the second quarter valued at about $95,000. GAMMA Investing LLC raised its holdings in Heritage Financial by 12.2% in the second quarter. GAMMA Investing LLC now owns 6,519 shares of the financial services provider's stock worth $193,000 after purchasing an additional 710 shares in the last quarter. Finally, CWM LLC lifted its position 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 valued at $195,000 after buying an additional 592 shares during the last quarter. Institutional investors own 78.30% of the company's stock.

Analysts Set New Price Targets

HFWA has been the subject of several recent analyst reports. DA Davidson boosted their price objective on shares of Heritage Financial from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Stephens increased their price objective on Heritage Financial from $30.00 to $32.00 and gave the company an "equal weight" rating in a report on Tuesday, July 28th. Wall Street Zen raised Heritage Financial from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Weiss Ratings restated a "buy (b)" rating on shares of Heritage Financial in a research note on Tuesday, July 7th. Finally, Zacks Research raised Heritage Financial from a "strong sell" rating to a "hold" rating in a research report on Friday, June 26th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $32.50.

Heritage Financial Trading Up 0.0%

Shares of Heritage Financial stock opened at $28.67 on Friday. The firm has a fifty day moving average price of $29.59 and a 200 day moving average price of $27.86. The stock has a market cap of $1.17 billion, a PE ratio of 13.65 and a beta of 0.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.83 and a quick ratio of 0.83. Heritage Financial Corporation has a 1 year low of $21.32 and a 1 year high of $31.25.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last posted its earnings results 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 during the quarter, compared to analysts' expectations of $86.30 million. Equities research analysts predict that Heritage Financial Corporation will post 2.37 earnings per share for the current year.

Heritage Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, August 5th. This is a positive change from Heritage Financial's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. Heritage Financial's payout ratio is currently 47.62%.

Insiders Place Their Bets

In other Heritage Financial news, EVP Kelli Ann Wilson sold 3,778 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $29.69, for a total value of $112,168.82. Following the transaction, the executive vice president directly owned 3,099 shares of the company's stock, valued at $92,009.31. This trade represents a 54.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey S. Lyon sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the director owned 40,719 shares in the company, valued at approximately $1,221,570. This represents a 19.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 24,546 shares of company stock valued at $729,057. Corporate insiders own 1.49% of the company's stock.

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.