22,326 Shares in Heritage Financial Co. (NASDAQ:HFWA) Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp bought a new stake in Heritage Financial Co. (NASDAQ:HFWA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 22,326 shares of the financial services provider's stock, valued at approximately $547,000. Mackenzie Financial Corp owned 0.07% of Heritage Financial at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of HFWA. Sterling Capital Management LLC increased its stake in Heritage Financial by 794.1% in the 4th quarter. Sterling Capital Management LLC now owns 1,064 shares of the financial services provider's stock valued at $26,000 after buying an additional 945 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in Heritage Financial by 519.0% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,553 shares of the financial services provider's stock valued at $87,000 after buying an additional 2,979 shares during the period. Public Employees Retirement System of Ohio increased its stake in Heritage Financial by 475.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 3,989 shares of the financial services provider's stock valued at $98,000 after buying an additional 3,296 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Heritage Financial in the 4th quarter valued at $157,000. Finally, Quantbot Technologies LP acquired a new position in Heritage Financial in the 4th quarter valued at $166,000. 78.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Jeffrey J. Deuel sold 7,033 shares of the business's stock in a transaction dated 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 in the company, valued at $1,677,635.96. The trade was a 9.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Donald Hinson sold 3,420 shares of the business's stock in a transaction dated Monday, March 17th. The stock was 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 in the company, valued at $992,832.33. This represents a 7.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,311 shares of company stock worth $267,473. Corporate insiders own 1.90% of the company's stock.

Heritage Financial Price Performance

Shares of NASDAQ HFWA traded up $0.50 during trading on Friday, hitting $23.31. 157,972 shares of the company were exchanged, compared to its average volume of 215,148. The company has a market cap of $795.01 million, a price-to-earnings ratio of 18.80 and a beta of 0.55. Heritage Financial Co. has a 1 year low of $16.55 and a 1 year high of $27.58. The firm's fifty day moving average price is $22.85 and its 200 day moving average price is $24.11. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.84 and a quick ratio of 0.82.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last issued 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 company had revenue of $57.59 million for the quarter, compared to analyst estimates of $61.74 million. Heritage Financial had a net margin of 13.64% and a return on equity of 7.17%. On average, sell-side analysts expect that Heritage Financial Co. will post 2.09 earnings per share for the current fiscal year.

Heritage Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 7th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $0.96 annualized dividend and a dividend yield of 4.12%. Heritage Financial's payout ratio is currently 64.86%.

Analyst Ratings Changes

Several equities analysts have issued reports on HFWA shares. Piper Sandler dropped their price objective on shares of Heritage Financial from $34.00 to $31.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Keefe, Bruyette & Woods dropped their price objective on shares of 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.

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.