Heritage Financial Co. (NASDAQ:HFWA) Stake Lessened by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in shares of Heritage Financial Co. (NASDAQ:HFWA) by 3.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,686 shares of the financial services provider’s stock after selling 682 shares during the period. State of Alaska Department of Revenue owned 0.06% of Heritage Financial worth $428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Heritage Financial by 133.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,374 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 786 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Heritage Financial during the second quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in Heritage Financial in the second quarter worth approximately $27,000. Point72 DIFC Ltd bought a new position in shares of Heritage Financial in the second quarter valued at $27,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Heritage Financial during the 2nd quarter valued at $31,000. Institutional investors own 78.30% of the company’s stock.

Heritage Financial Stock Up 0.8 %

HFWA opened at $26.26 on Friday. Heritage Financial Co. has a twelve month low of $16.38 and a twelve month high of $27.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.81 and a current ratio of 0.82. The business has a 50 day moving average price of $22.29 and a 200 day moving average price of $20.41. The firm has a market cap of $905.86 million, a P/E ratio of 24.31 and a beta of 0.52.

Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). Heritage Financial had a return on equity of 7.01% and a net margin of 12.27%. The firm had revenue of $81.65 million during the quarter, compared to analyst estimates of $58.17 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Research analysts forecast that Heritage Financial Co. will post 1.65 EPS for the current year.

Heritage Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.92 annualized dividend and a dividend yield of 3.50%. Heritage Financial’s dividend payout ratio is 85.19%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Stephens increased their price target on Heritage Financial from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their target price on shares of Heritage Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Finally, Piper Sandler boosted their price target on shares of Heritage Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $25.00.

Insider Transactions at Heritage Financial

In related news, EVP Tony Chalfant sold 2,975 shares of Heritage Financial stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.50, for a total transaction of $78,837.50. Following the sale, the executive vice president now directly owns 20,119 shares of the company’s stock, valued at $533,153.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

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.