Heritage Financial (NASDAQ:HFWA) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Heritage Financial Corporation (NASDAQ:HFWA) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.70 and traded as high as $25.82. Heritage Financial shares last traded at $25.28, with a volume of 427,891 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have commented on HFWA. Weiss Ratings upgraded Heritage Financial from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Zacks Research downgraded Heritage Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Piper Sandler boosted their price objective on Heritage Financial from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. DA Davidson upped their price objective on Heritage Financial from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Finally, Stephens increased their target price on Heritage Financial from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.25.

Heritage Financial Stock Up 2.4%

The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 12.90 and a beta of 0.51. The firm’s fifty day moving average is $26.33 and its two-hundred day moving average is $24.70. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.83 and a quick ratio of 0.83.

Heritage Financial (NASDAQ:HFWA) last released its earnings results on Thursday, January 22nd. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.57 by $0.09. Heritage Financial had a net margin of 20.10% and a return on equity of 8.61%. The firm had revenue of $66.35 million for the quarter, compared to analysts’ expectations of $65.95 million. On average, sell-side analysts expect that Heritage Financial Corporation will post 2.09 EPS for the current fiscal year.

Heritage Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, January 28th were issued a $0.24 dividend. The ex-dividend date was Wednesday, January 28th. This represents a $0.96 annualized dividend and a dividend yield of 3.8%. Heritage Financial’s dividend payout ratio (DPR) is 48.98%.

Insider Activity at Heritage Financial

In other Heritage Financial news, EVP Kelli Ann Wilson sold 1,900 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $26.48, for a total transaction of $50,312.00. Following the completion of the transaction, the executive vice president directly owned 3,778 shares of the company’s stock, valued at approximately $100,041.44. This trade represents a 33.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tony Chalfant sold 4,668 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $27.65, for a total value of $129,070.20. Following the transaction, the executive vice president directly owned 19,870 shares of the company’s stock, valued at approximately $549,405.50. The trade was a 19.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 8,368 shares of company stock worth $226,740 over the last quarter. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of Heritage Financial

Several institutional investors have recently modified their holdings of HFWA. Hantz Financial Services Inc. boosted its stake in Heritage Financial by 316.9% during the third quarter. Hantz Financial Services Inc. now owns 1,651 shares of the financial services provider’s stock valued at $40,000 after buying an additional 1,255 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Heritage Financial by 27,871.4% in the 2nd 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 lifted its holdings in Heritage Financial by 99.1% in 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 acquiring an additional 1,431 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Heritage Financial by 20.8% during the 4th quarter. GAMMA Investing LLC now owns 5,171 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 891 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Heritage Financial by 100.5% during the 3rd quarter. CWM LLC now owns 7,657 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 3,838 shares in the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.

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.