Heritage Financial (NASDAQ:HFWA) EVP Kelli Ann Wilson Sells 3,778 Shares

Key Points

• Heritage Financial EVP Kelli Ann Wilson sold 3,778 shares at an average price of $29.69, generating $112,168.82 and reducing her direct holdings by 54.94% to 3,099 shares.
• HFWA shares fell 1.1% to $29.52, while the company’s latest quarterly earnings of $0.57 per share exceeded analyst expectations of $0.44, despite revenue coming in below estimates.
• Heritage Financial increased its quarterly dividend to $0.25 per share, equivalent to a $1.00 annualized payout and a 3.4% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $32.50.

Heritage Financial Corporation (NASDAQ:HFWA - Get Free Report) EVP Kelli Ann Wilson sold 3,778 shares of Heritage Financial stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $29.69, for a total transaction of $112,168.82. Following the sale, the executive vice president directly owned 3,099 shares of the company's stock, valued at $92,009.31. This represents a 54.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Heritage Financial Trading Down 1.1%

Shares of Heritage Financial stock traded down $0.32 on Thursday, hitting $29.52. 449,526 shares of the company's stock traded hands, compared to its average volume of 314,533. The firm's 50-day moving average price is $28.85 and its two-hundred day moving average price is $27.32. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.83 and a quick ratio of 0.81. The stock has a market capitalization of $1.22 billion, a PE ratio of 14.06 and a beta of 0.49. Heritage Financial Corporation has a one year low of $21.32 and a one year high of $31.25.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.13. Heritage Financial had a return on equity of 8.78% and a net margin of 20.44%.The business had revenue of $84.13 million for the quarter, compared to analyst estimates of $86.30 million. On average, 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 announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.4%. This is an increase from Heritage Financial's previous quarterly dividend of $0.24. The ex-dividend date is Wednesday, August 5th. Heritage Financial's dividend payout ratio (DPR) is 45.71%.

Analyst Ratings Changes

HFWA has been the subject of a number of recent analyst reports. DA Davidson upped their price target on Heritage Financial from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Piper Sandler reduced their price objective on shares of Heritage Financial from $34.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, April 27th. Wall Street Zen upgraded shares of Heritage Financial from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings reiterated a "buy (b)" rating on shares of Heritage Financial in a report on Tuesday, July 7th. Finally, Stephens lifted their price target on shares of Heritage Financial from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Heritage Financial has a consensus rating of "Moderate Buy" and a consensus price target of $32.50.

Hedge Funds Weigh In On Heritage Financial

Several institutional investors have recently modified their holdings of HFWA. 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 purchasing an additional 1,951 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of 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 buying an additional 1,431 shares during the period. GAMMA Investing LLC increased its position in shares of Heritage Financial by 12.2% during the second quarter. GAMMA Investing LLC now owns 6,519 shares of the financial services provider's stock worth $193,000 after acquiring an additional 710 shares in the last quarter. CWM LLC lifted its position in Heritage Financial by 7.7% in the 4th quarter. CWM LLC now owns 8,249 shares of the financial services provider's stock valued at $195,000 after acquiring an additional 592 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Heritage Financial by 117.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,457 shares of the financial services provider's stock valued at $205,000 after acquiring an additional 4,561 shares in the last quarter. Institutional investors own 78.30% of the company's stock.

Heritage Financial Company Profile

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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