GAMMA Investing LLC Grows Position in Heritage Financial Co. (NASDAQ:HFWA)

GAMMA Investing LLC raised its holdings in Heritage Financial Co. (NASDAQ:HFWA - Free Report) by 3,435.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,309 shares of the financial services provider's stock after purchasing an additional 70,264 shares during the period. GAMMA Investing LLC owned 0.21% of Heritage Financial worth $17,590,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HFWA. Invesco Ltd. raised its position in shares of Heritage Financial by 112.5% during the 4th quarter. Invesco Ltd. now owns 369,429 shares of the financial services provider's stock worth $9,051,000 after purchasing an additional 195,541 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new position in Heritage Financial during the fourth quarter worth $3,755,000. Russell Investments Group Ltd. increased its position in Heritage Financial by 357.0% during the fourth quarter. Russell Investments Group Ltd. now owns 143,913 shares of the financial services provider's stock worth $3,526,000 after buying an additional 112,419 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Heritage Financial by 83.3% in the fourth quarter. JPMorgan Chase & Co. now owns 225,948 shares of the financial services provider's stock worth $5,536,000 after acquiring an additional 102,665 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Heritage Financial in the fourth quarter worth $1,503,000. 78.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HFWA has been the topic of a number of analyst reports. Keefe, Bruyette & Woods decreased their price objective on Heritage Financial from $27.00 to $26.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Piper Sandler reduced their target price on shares of Heritage Financial from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, April 28th.

Heritage Financial Trading Up 0.5%

HFWA stock traded up $0.12 during midday trading on Monday, hitting $23.43. The stock had a trading volume of 208,014 shares, compared to its average volume of 215,609. The company's 50-day moving average price is $22.85 and its 200 day moving average price is $24.09. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.84 and a quick ratio of 0.82. The firm has a market cap of $799.10 million, a PE ratio of 18.90 and a beta of 0.55. Heritage Financial Co. has a 12-month low of $16.55 and a 12-month high of $27.58.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. The business had revenue of $57.59 million for the quarter, compared to analysts' expectations of $61.74 million. Heritage Financial had a return on equity of 7.17% and a net margin of 13.64%. On average, equities research analysts predict that Heritage Financial Co. will post 2.09 earnings per share for the current fiscal year.

Heritage Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 7th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Wednesday, May 7th. Heritage Financial's payout ratio is 64.86%.

Insider Buying and Selling at Heritage Financial

In related news, CEO Jeffrey J. Deuel sold 7,033 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.66, for a total value of $166,400.78. Following the sale, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Donald Hinson sold 3,420 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.59, for a total transaction of $80,677.80. Following the completion of the sale, the chief financial officer now owns 42,087 shares of the company's stock, valued at approximately $992,832.33. The trade was a 7.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,311 shares of company stock worth $267,473 in the last 90 days. 1.80% of the stock is owned by company insiders.

About Heritage Financial

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.