Heritage Financial (NASDAQ:HFWA) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Heritage Financial Corporation (NASDAQ:HFWA)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $25.74 and traded as high as $27.34. Heritage Financial shares last traded at $27.34, with a volume of 195,292 shares traded.

Analyst Ratings Changes

HFWA has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Heritage Financial from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Wall Street Zen raised shares of Heritage Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research lowered shares of Heritage Financial from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings raised shares of Heritage Financial from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $30.50.

Heritage Financial Trading Down 0.3%

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $26.75 and its 200-day moving average price is $25.75. The stock has a market capitalization of $1.12 billion, a P/E ratio of 13.36 and a beta of 0.50.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Heritage Financial had a net margin of 20.50% and a return on equity of 8.71%. The firm had revenue of $77.92 million for the quarter, compared to the consensus estimate of $80.31 million. As a group, equities research analysts expect that Heritage Financial Corporation will post 2.39 earnings per share for the current year.

Heritage Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were paid a dividend of $0.24 per share. The ex-dividend date was Wednesday, May 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.5%. Heritage Financial’s dividend payout ratio (DPR) is currently 47.06%.

Hedge Funds Weigh In On Heritage Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. boosted its stake in Heritage Financial by 316.9% in the third quarter. Hantz Financial Services Inc. now owns 1,651 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 1,255 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Heritage Financial by 27,871.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,958 shares of the financial services provider’s stock worth $47,000 after buying an additional 1,951 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Heritage Financial by 99.1% during the second quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,431 shares during the period. GAMMA Investing LLC lifted its stake in shares of Heritage Financial by 20.8% during the fourth quarter. GAMMA Investing LLC now owns 5,171 shares of the financial services provider’s stock worth $122,000 after buying an additional 891 shares during the period. Finally, CWM LLC raised its holdings in shares of Heritage Financial by 7.7% during the fourth quarter. CWM LLC now owns 8,249 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 592 shares during the last quarter. 78.30% of the stock is currently owned by institutional investors.

Heritage Financial Company Profile

Heritage Financial Corporation (NASDAQ:HFWA) is a bank holding company headquartered in Spokane, Washington. Through its primary subsidiary, Heritage Bank, the company provides a comprehensive range of banking and financial services to both individual and commercial clients. Heritage Bank’s offerings encompass deposit products, lending solutions, treasury and cash management services, mortgage banking, and wealth management, positioning the organization as a full-service community bank.

The company’s lending portfolio includes commercial real estate loans, agricultural loans, small business administration (SBA) loans, construction and development financing, and a variety of consumer mortgage products.