Federated Hermes Inc. Lowers Stake in Heritage Financial Corporation $HFWA

Federated Hermes Inc. decreased its position in shares of Heritage Financial Corporation (NASDAQ:HFWA) by 42.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 32,858 shares of the financial services provider’s stock after selling 24,584 shares during the period. Federated Hermes Inc. owned 0.10% of Heritage Financial worth $795,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Algebris UK Ltd. acquired a new position in Heritage Financial in the 3rd quarter valued at $10,775,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Heritage Financial by 112.5% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 58,043 shares of the financial services provider’s stock valued at $1,404,000 after purchasing an additional 30,725 shares during the period. Deprince Race & Zollo Inc. increased its stake in Heritage Financial by 61.0% in the third quarter. Deprince Race & Zollo Inc. now owns 70,514 shares of the financial services provider’s stock valued at $1,706,000 after purchasing an additional 26,727 shares during the last quarter. CWM LLC lifted its position in Heritage Financial by 100.5% during the third quarter. CWM LLC now owns 7,657 shares of the financial services provider’s stock worth $185,000 after buying an additional 3,838 shares during the period. Finally, Brighton Jones LLC boosted its stake in Heritage Financial by 3.7% in the 3rd quarter. Brighton Jones LLC now owns 12,452 shares of the financial services provider’s stock worth $301,000 after buying an additional 450 shares during the last quarter. 78.30% of the stock is owned by hedge funds and other institutional investors.

Heritage Financial Stock Performance

Shares of HFWA stock opened at $28.19 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.84 and a debt-to-equity ratio of 0.05. The company has a market cap of $957.33 million, a PE ratio of 14.38 and a beta of 0.53. The company’s fifty day simple moving average is $25.08 and its 200-day simple moving average is $24.06. Heritage Financial Corporation has a 52 week low of $19.84 and a 52 week high of $28.44.

Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.09. The firm had revenue of $66.35 million during the quarter, compared to the consensus estimate of $65.95 million. Heritage Financial had a return on equity of 8.61% and a net margin of 20.10%. As a group, equities research analysts anticipate that Heritage Financial Corporation will post 2.09 EPS for the current year.

Heritage Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, January 28th. Heritage Financial’s dividend payout ratio is currently 48.98%.

Insider Buying and Selling at Heritage Financial

In other news, EVP Kelli Ann Wilson sold 1,900 shares of Heritage Financial stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $26.48, for a total transaction of $50,312.00. Following the sale, the executive vice president owned 3,778 shares in the company, valued at $100,041.44. This trade represents a 33.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick B. Rivera sold 1,800 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $26.31, for a total transaction of $47,358.00. Following the transaction, the director directly owned 4,972 shares in the company, valued at approximately $130,813.32. The trade was a 26.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HFWA has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on shares of Heritage Financial from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday. DA Davidson upped their price target on shares of Heritage Financial from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Wall Street Zen upgraded shares of Heritage Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Zacks Research downgraded Heritage Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Heritage Financial in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.25.

About Heritage Financial

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.