US Bancorp DE Cuts Stake in Heritage Financial Co. (NASDAQ:HFWA)

US Bancorp DE lowered its position in shares of Heritage Financial Co. (NASDAQ:HFWAGet Rating) by 0.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 62,624 shares of the financial services provider’s stock after selling 500 shares during the period. US Bancorp DE’s holdings in Heritage Financial were worth $1,658,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ziegler Capital Management LLC increased its stake in shares of Heritage Financial by 3.0% during the second quarter. Ziegler Capital Management LLC now owns 55,310 shares of the financial services provider’s stock valued at $1,392,000 after buying an additional 1,615 shares during the period. Russell Investments Group Ltd. grew its stake in Heritage Financial by 315.0% in the second quarter. Russell Investments Group Ltd. now owns 84,492 shares of the financial services provider’s stock valued at $2,124,000 after purchasing an additional 64,131 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Heritage Financial in the second quarter valued at about $220,000. Louisiana State Employees Retirement System purchased a new position in Heritage Financial in the third quarter valued at about $445,000. Finally, Aspire Capital Advisors LLC grew its stake in Heritage Financial by 7.7% in the second quarter. Aspire Capital Advisors LLC now owns 12,270 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 876 shares during the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.

Insider Buying and Selling

In related news, EVP Cindy M. Huntley sold 1,193 shares of Heritage Financial stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $32.61, for a total transaction of $38,903.73. Following the completion of the sale, the executive vice president now owns 19,815 shares of the company’s stock, valued at $646,167.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Brian L. Vance sold 5,148 shares of Heritage Financial stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $32.73, for a total transaction of $168,494.04. Following the completion of the sale, the director now owns 92,365 shares of the company’s stock, valued at $3,023,106.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Cindy M. Huntley sold 1,193 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $32.61, for a total value of $38,903.73. Following the completion of the transaction, the executive vice president now directly owns 19,815 shares of the company’s stock, valued at $646,167.15. The disclosure for this sale can be found here. Insiders sold 13,465 shares of company stock valued at $435,869 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. StockNews.com lowered Heritage Financial from a “hold” rating to a “sell” rating in a research note on Thursday, January 5th. DA Davidson lifted their target price on Heritage Financial to $35.00 in a research note on Thursday, October 27th. Finally, Piper Sandler boosted their price target on Heritage Financial to $38.00 in a research note on Tuesday, November 1st.

Heritage Financial Price Performance

Shares of HFWA stock opened at $30.04 on Tuesday. Heritage Financial Co. has a fifty-two week low of $23.31 and a fifty-two week high of $34.34. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 13.53 and a beta of 0.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.68 and a current ratio of 0.68. The stock’s 50-day simple moving average is $31.36 and its 200-day simple moving average is $28.91.

Heritage Financial (NASDAQ:HFWAGet Rating) last issued its quarterly earnings results on Thursday, October 20th. The financial services provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.09. Heritage Financial had a return on equity of 9.67% and a net margin of 32.28%. The business had revenue of $66.74 million for the quarter, compared to analyst estimates of $61.43 million. As a group, equities analysts forecast that Heritage Financial Co. will post 2.31 earnings per share for the current fiscal year.

Heritage Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 16th. Investors of record on Wednesday, November 2nd were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Tuesday, November 1st. Heritage Financial’s dividend payout ratio (DPR) is 37.84%.

About Heritage Financial

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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. The company 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.

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Institutional Ownership by Quarter for Heritage Financial (NASDAQ:HFWA)

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