Heritage Financial Co. (NASDAQ:HFWA – Get Rating) Executive Vice President Tony Chalfant sold 3,124 shares of the company in a trade that took place on Monday, October 24. The stock was sold at an average price of $31.38, for a total transaction of $98,031.12. Following the sale, the executive vice president now owns 16,143 shares of the company, valued at approximately $506,567.34. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website.

Heritage Financial Price Performance

Shares of Heritage Financial traded down $0.05 on Tuesday, hitting $31.39. 361,985 shares of the company were traded, against an average volume of 188,497. The stock has a market capitalization of $1.10 billion, a P/E ratio of 14.14 and a beta of 0.53. The company has a debt ratio of 0.03, a quick ratio of 0.75 and a current ratio of 0.68. Heritage Financial Co. has a 52-week low of $20.95 and a 52-week high of $32.17. The company has a 50-day simple moving average of $27.60 and a 200-day simple moving average of $26.12.

Heritage Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 16. Shareholders of record on Wednesday, November 2 will receive a dividend of $0.21 per share. This represents an annualized dividend of $0.84 and a dividend yield of 2.68%. The ex-dividend date is Tuesday, November 1. Heritage Financial’s payout ratio is currently 37.84%.

Institutional entries and exits

A number of institutional investors and hedge funds have recently changed their holdings in HFWA. Bailard Inc. bought a new position in shares of Heritage Financial in the first quarter worth $405,000. Martin & Co. Inc. TN increased its holdings of Heritage Financial shares by 2.0% in the first quarter. Martin & Co. Inc. TN now owns 83,319 shares of the financial services provider valued at $2,088,000 after buying an additional 1,624 shares last quarter. Victory Capital Management Inc. increased its holdings of Heritage Financial shares by 19.2% in the first quarter. Victory Capital Management Inc. now owns 1,231,573 shares of the financial services provider valued at $30,495,000 after buying an additional 198,094 shares last quarter. Ziegler Capital Management LLC increased its holdings of Heritage Financial shares by 11.9% in the first quarter. Ziegler Capital Management LLC now owns 53,695 shares of the financial services provider valued at $1,346,000 after buying an additional 5,713 shares last quarter. Finally, SummerHaven Investment Management LLC increased its holdings of Heritage Financial shares by 4.6% in the first quarter. SummerHaven Investment Management LLC now owns 37,320 shares of the financial services provider valued at $935,000 after buying an additional 1,641 shares last quarter. 78.62% of the shares are held by hedge funds and other institutional investors.

Analyst upgrades and downgrades

A number of equity research analysts have commented on HFWA shares. DA Davidson upgraded shares of Heritage Financial from a “neutral” rating to a “buy” rating in a Monday, July 25 research note. StockNews.com began covering Heritage Financial shares in a research report on Wednesday, October 12. They have set a “holding” rating on the stock. Finally, Piper Sandler raised her price target on Heritage Financial shares to $34.00 in a Friday, September 30 research report.

About Heritage Financial

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Heritage Financial Corporation operates as a bank holding company for Heritage Bank which provides various financial services to small and medium businesses and individuals in the United States. The Company accepts various deposit products, such as interest-free demand deposits, interest-bearing demand deposits, money market accounts, savings accounts, personal checking accounts and certificates of deposit.

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