Hotchkis & Wiley Capital Management LLC lessened its position in shares of Heritage Financial Co. (NASDAQ:HFWA - Free Report) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,090 shares of the financial services provider's stock after selling 23,240 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.91% of Heritage Financial worth $6,772,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of HFWA. GAMMA Investing LLC increased its position in shares of Heritage Financial by 133.7% during the second 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Heritage Financial during the 2nd quarter worth $25,000. Point72 DIFC Ltd acquired a new position in Heritage Financial during the 2nd quarter valued at about $27,000. Innealta Capital LLC purchased a new stake in Heritage Financial in the second quarter valued at about $27,000. Finally, Meeder Asset Management Inc. acquired a new stake in Heritage Financial in the second quarter worth about $31,000. Hedge funds and other institutional investors own 78.30% of the company's stock.
Wall Street Analyst Weigh In
HFWA has been the topic of several recent analyst reports. Stephens upped their price objective on shares of Heritage Financial from $24.00 to $26.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. Piper Sandler upped their price target on shares of Heritage Financial from $27.00 to $28.00 and gave the company an "overweight" rating in a research note on Monday, October 28th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $25.00.
Get Our Latest Stock Report on HFWA
Heritage Financial Stock Performance
Shares of NASDAQ:HFWA traded up $0.01 during trading on Friday, hitting $26.13. The stock had a trading volume of 96,899 shares, compared to its average volume of 183,440. The stock has a 50-day simple moving average of $23.93 and a two-hundred day simple moving average of $21.43. The stock has a market capitalization of $892.44 million, a price-to-earnings ratio of 24.19 and a beta of 0.55. Heritage Financial Co. has a 12-month low of $16.55 and a 12-month high of $27.58. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.46.
Heritage Financial (NASDAQ:HFWA - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.09). The business had revenue of $81.65 million for the quarter, compared to analyst estimates of $58.17 million. Heritage Financial had a net margin of 12.27% and a return on equity of 7.01%. During the same quarter in the previous year, the firm posted $0.51 earnings per share. On average, equities research analysts expect that Heritage Financial Co. will post 1.65 earnings per share for the current fiscal year.
Heritage Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Wednesday, November 6th. Heritage Financial's payout ratio is 85.19%.
Insiders Place Their Bets
In other news, EVP Tony Chalfant sold 2,975 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.50, for a total transaction of $78,837.50. Following the sale, the executive vice president now owns 20,119 shares of the company's stock, valued at $533,153.50. This trade represents a 12.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by insiders.
Heritage Financial Profile
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Free Report)
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.
Further Reading
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