Heritage Financial Corporation $HFWA Shares Acquired by Rhino Investment Partners Inc

Rhino Investment Partners Inc boosted its stake in Heritage Financial Corporation (NASDAQ:HFWA - Free Report) by 77.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 330,459 shares of the financial services provider's stock after acquiring an additional 144,515 shares during the quarter. Heritage Financial accounts for about 2.4% of Rhino Investment Partners Inc's portfolio, making the stock its 16th biggest holding. Rhino Investment Partners Inc owned 0.80% of Heritage Financial worth $8,592,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HFWA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 valued at $488,000 after purchasing an additional 881 shares in the last quarter. Empowered Funds LLC raised its position in shares of Heritage Financial by 4.2% during the 1st quarter. Empowered Funds LLC now owns 123,798 shares of the financial services provider's stock worth $3,012,000 after purchasing an additional 4,947 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Heritage Financial by 7.4% in the 1st 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 buying an additional 5,417 shares in the last quarter. Jane Street Group LLC boosted its holdings in Heritage Financial by 437.3% in the 1st quarter. Jane Street Group LLC now owns 107,482 shares of the financial services provider's stock worth $2,615,000 after buying an additional 87,479 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Heritage Financial by 27,871.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,958 shares of the financial services provider's stock worth $47,000 after buying an additional 1,951 shares in the last quarter. Hedge funds and other institutional investors own 78.30% of the company's stock.

Heritage Financial Price Performance

NASDAQ:HFWA opened at $29.89 on Wednesday. Heritage Financial Corporation has a one year low of $21.32 and a one year high of $31.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.81 and a current ratio of 0.83. The stock has a market cap of $1.23 billion, a PE ratio of 14.23 and a beta of 0.49. The stock has a 50 day moving average price of $28.80 and a 200 day moving average price of $27.28.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.13. The firm had revenue of $84.13 million for the quarter, compared to the consensus estimate of $86.30 million. Heritage Financial had a return on equity of 8.78% and a net margin of 20.44%. Equities research analysts expect that Heritage Financial Corporation will post 2.37 EPS for the current fiscal year.

Heritage Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Wednesday, August 5th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 3.3%. This is a boost from Heritage Financial's previous quarterly dividend of $0.24. Heritage Financial's payout ratio is presently 45.71%.

Insider Activity at Heritage Financial

In other news, CFO Donald Hinson sold 3,842 shares of the business's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $28.37, for a total transaction of $108,997.54. Following the transaction, the chief financial officer owned 41,241 shares of the company's stock, valued at approximately $1,170,007.17. The trade was a 8.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.49% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on HFWA. Wall Street Zen upgraded Heritage Financial from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Piper Sandler reduced their price objective on Heritage Financial from $34.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, April 27th. Zacks Research raised shares of Heritage Financial from a "strong sell" rating to a "hold" rating in a research note on Friday, June 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Heritage Financial in a research report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Heritage Financial from $31.00 to $32.00 and gave the stock a "market perform" rating in a research note on Monday. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Heritage Financial has an average rating of "Moderate Buy" and a consensus price target of $32.50.

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.

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