Context BH Capital Management LP Sells 177,274 Shares of Heritage Financial Corporation (HFWA)
Context BH Capital Management LP cut its position in Heritage Financial Corporation (NASDAQ:HFWA) by 94.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,209 shares of the financial services provider’s stock after selling 177,274 shares during the quarter. Context BH Capital Management LP’s holdings in Heritage Financial Corporation were worth $331,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. MUFG Americas Holdings Corp grew its position in Heritage Financial Corporation by 1.2% in the 2nd quarter. MUFG Americas Holdings Corp now owns 3,952 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 45 shares during the last quarter. Legal & General Group Plc grew its position in Heritage Financial Corporation by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 7,369 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 297 shares during the last quarter. Aperio Group LLC acquired a new stake in Heritage Financial Corporation in the 2nd quarter worth $217,000. Susquehanna International Group LLP acquired a new stake in Heritage Financial Corporation in the 2nd quarter worth $226,000. Finally, Parkwood LLC boosted its position in shares of Heritage Financial Corporation by 14.8% during the 2nd quarter. Parkwood LLC now owns 9,478 shares of the financial services provider’s stock valued at $251,000 after acquiring an additional 1,225 shares in the last quarter. Institutional investors and hedge funds own 75.34% of the company’s stock.
In related news, Director Anthony Pickering sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $30.76, for a total transaction of $338,360.00. Following the completion of the sale, the director now directly owns 48,085 shares of the company’s stock, valued at $1,479,094.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian L. Vance sold 5,636 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $30.76, for a total transaction of $173,363.36. Following the sale, the director now directly owns 142,011 shares of the company’s stock, valued at $4,368,258.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,163 shares of company stock valued at $556,745. Insiders own 2.70% of the company’s stock.
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Shares of Heritage Financial Corporation (HFWA) traded up $0.25 during mid-day trading on Tuesday, reaching $29.70. 199,700 shares of the company traded hands, compared to its average volume of 127,870. Heritage Financial Corporation has a 12-month low of $20.65 and a 12-month high of $31.65. The company has a market cap of $881.41, a P/E ratio of 21.34, a P/E/G ratio of 2.07 and a beta of 0.44. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.26.
Heritage Financial Corporation (NASDAQ:HFWA) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. Heritage Financial Corporation had a net margin of 23.48% and a return on equity of 8.50%. The company had revenue of $43.39 million during the quarter, compared to the consensus estimate of $42.85 million. equities research analysts predict that Heritage Financial Corporation will post 1.42 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Tuesday, November 7th. Heritage Financial Corporation’s dividend payout ratio is presently 37.68%.
HFWA has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Heritage Financial Corporation from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Wednesday, September 27th. ValuEngine upgraded shares of Heritage Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. DA Davidson lifted their target price on shares of Heritage Financial Corporation from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, November 7th. Finally, Piper Jaffray Companies set a $29.00 target price on shares of Heritage Financial Corporation and gave the company a “hold” rating in a research report on Monday, August 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Heritage Financial Corporation has a consensus rating of “Buy” and a consensus target price of $31.75.
Heritage Financial Corporation Profile
Heritage Financial Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its bank subsidiary, Heritage Bank (the Bank). The Bank’s lending activities focus on commercial business lending. The Bank also originates consumer loans, real estate construction and land development loans, and one- to four-family residential loans.
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