Heritage Financial (NASDAQ:HFWA) Issues Earnings Results

Heritage Financial (NASDAQ:HFWA) released its quarterly earnings data on Thursday. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.09, Zacks reports. Heritage Financial had a net margin of 17.27% and a return on equity of 8.21%.

Heritage Financial Price Performance

NASDAQ:HFWA opened at $26.26 on Thursday. The firm has a market capitalization of $891.79 million, a price-to-earnings ratio of 15.92 and a beta of 0.52. Heritage Financial has a 1 year low of $19.84 and a 1 year high of $26.92. The business has a 50 day simple moving average of $24.21 and a 200-day simple moving average of $23.94. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.84 and a quick ratio of 0.84.

Heritage Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, January 28th. This represents a $0.96 dividend on an annualized basis and a yield of 3.7%. Heritage Financial’s dividend payout ratio is 58.18%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. DA Davidson set a $29.00 price target on shares of Heritage Financial in a report on Monday, September 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Heritage Financial in a report on Wednesday, October 8th. Zacks Research lowered Heritage Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Wall Street Zen upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Keefe, Bruyette & Woods increased their price target on Heritage Financial from $26.00 to $28.00 and gave the company a “market perform” rating in a research note on Monday, September 29th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.33.

Insider Buying and Selling at Heritage Financial

In related news, President Bryan Mcdonald bought 19,106 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were purchased at an average price of $22.32 per share, with a total value of $426,445.92. Following the transaction, the president owned 31,363 shares in the company, valued at $700,022.16. This trade represents a 155.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in Heritage Financial by 27,871.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,958 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,951 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Heritage Financial by 99.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,431 shares during the last quarter. BNP Paribas Financial Markets raised 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 worth $205,000 after purchasing an additional 4,561 shares during the period. Verition Fund Management LLC purchased a new stake in Heritage Financial in the 3rd quarter worth about $210,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Heritage Financial by 35.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,991 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 2,862 shares during the last quarter. 78.30% of the stock is owned by hedge funds and other institutional investors.

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.