1,490 Shares in Heritage Financial Co. (NASDAQ:HFWA) Acquired by Point72 DIFC Ltd

Point72 DIFC Ltd bought a new position in Heritage Financial Co. (NASDAQ:HFWA) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,490 shares of the financial services provider’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of HFWA. GAMMA Investing LLC grew its holdings in shares of Heritage Financial by 133.7% in the second quarter. GAMMA Investing LLC now owns 1,374 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 786 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Heritage Financial in the second quarter worth about $25,000. PNC Financial Services Group Inc. grew its stake in shares of Heritage Financial by 72.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,394 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 1,428 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Heritage Financial by 5.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,784 shares of the financial services provider’s stock valued at $578,000 after purchasing an additional 1,471 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Heritage Financial in the 2nd quarter worth approximately $27,000. 78.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HFWA has been the subject of several recent research reports. Piper Sandler boosted their target price on shares of Heritage Financial from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods upped their price target on Heritage Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $23.50.

Heritage Financial Trading Up 0.1 %

Shares of Heritage Financial stock opened at $20.81 on Friday. Heritage Financial Co. has a fifty-two week low of $15.50 and a fifty-two week high of $23.82. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $721.90 million, a P/E ratio of 15.65 and a beta of 0.53. The company has a fifty day moving average of $21.97 and a 200 day moving average of $19.57.

Heritage Financial (NASDAQ:HFWA) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. Heritage Financial had a return on equity of 7.95% and a net margin of 14.59%. The firm had revenue of $56.36 million during the quarter, compared to analysts’ expectations of $58.27 million. On average, sell-side analysts anticipate that Heritage Financial Co. will post 1.66 earnings per share for the current fiscal year.

Heritage Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Wednesday, August 7th. Heritage Financial’s dividend payout ratio (DPR) is presently 69.17%.

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.