Heritage Financial Co. (NASDAQ:HFWA) Stake Cut by Point72 Asset Management L.P.

Point72 Asset Management L.P. lessened its holdings in shares of Heritage Financial Co. (NASDAQ:HFWA) by 20.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,351 shares of the financial services provider’s stock after selling 1,149 shares during the quarter. Point72 Asset Management L.P.’s holdings in Heritage Financial were worth $95,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in Heritage Financial in the 2nd quarter valued at approximately $25,000. Innealta Capital LLC purchased a new stake in shares of Heritage Financial during the second quarter worth $27,000. Point72 DIFC Ltd acquired a new stake in Heritage Financial during the second quarter valued at $27,000. Meeder Asset Management Inc. acquired a new position in Heritage Financial in the 2nd quarter worth about $31,000. Finally, GAMMA Investing LLC raised its stake in shares of Heritage Financial by 43.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,975 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 601 shares in the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.

Heritage Financial Stock Up 0.1 %

HFWA opened at $26.17 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $24.54 and its 200 day simple moving average is $21.74. Heritage Financial Co. has a 1-year low of $16.55 and a 1-year high of $27.58. The stock has a market cap of $893.81 million, a PE ratio of 24.23 and a beta of 0.55.

Heritage Financial (NASDAQ:HFWA) last posted its earnings results 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). The firm had revenue of $81.65 million for the quarter, compared to analyst estimates of $58.17 million. Heritage Financial had a return on equity of 7.01% and a net margin of 12.27%. During the same period in the prior year, the business posted $0.51 EPS. As a group, research analysts expect that Heritage Financial Co. will post 1.65 earnings per share for the current year.

Heritage Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th were given a $0.23 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.92 dividend on an annualized basis and a yield of 3.52%. Heritage Financial’s dividend payout ratio is currently 85.19%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on HFWA shares. Stephens lifted their target price on shares of Heritage Financial from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Piper Sandler boosted their target price on shares of Heritage Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Insider Activity

In other news, EVP Tony Chalfant sold 2,975 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.50, for a total transaction of $78,837.50. Following the completion of the sale, the executive vice president now owns 20,119 shares in the company, valued at $533,153.50. The trade was a 12.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Heritage Financial Company 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.