Heritage Financial (NASDAQ:HFWA) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Heritage Financial Corporation (NASDAQ:HFWA) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $26.33 and traded as high as $28.34. Heritage Financial shares last traded at $28.08, with a volume of 265,401 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HFWA shares. Zacks Research downgraded Heritage Financial from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 30th. Wall Street Zen upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Piper Sandler dropped their price objective on Heritage Financial from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, April 27th. Finally, Weiss Ratings raised Heritage Financial from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $30.50.

Heritage Financial Trading Up 0.9%

The business has a 50 day moving average of $27.43 and a 200-day moving average of $26.36. The stock has a market cap of $1.19 billion, a PE ratio of 14.21 and a beta of 0.49. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.04.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Heritage Financial had a return on equity of 8.71% and a net margin of 20.50%.The company had revenue of $77.92 million during the quarter, compared to the consensus estimate of $80.31 million. On average, analysts anticipate that Heritage Financial Corporation will post 2.39 EPS for the current year.

Heritage Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Wednesday, May 6th. Heritage Financial’s dividend payout ratio (DPR) is currently 47.06%.

Insider Transactions at Heritage Financial

In other Heritage Financial news, CFO Donald Hinson sold 3,842 shares of the firm’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 sale, the chief financial officer directly owned 41,241 shares of the company’s stock, valued at $1,170,007.17. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.49% of the company’s stock.

Hedge Funds Weigh In On Heritage Financial

Institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 worth $488,000 after acquiring an additional 881 shares during the last quarter. Empowered Funds LLC boosted its position in 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Heritage Financial by 7.4% in the first 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 worth $1,901,000 after buying an additional 5,417 shares during the period. 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 acquiring an additional 87,479 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Heritage Financial by 27,871.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,958 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,951 shares during the period. Institutional investors and hedge funds 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.