Odyssean LLC Purchases Shares of 31,917 Heritage Financial Corporation $HFWA

Odyssean LLC bought a new stake in Heritage Financial Corporation (NASDAQ:HFWA) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 31,917 shares of the financial services provider’s stock, valued at approximately $945,000. Odyssean LLC owned 0.08% of Heritage Financial as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of HFWA. Jupiter Topco LLC bought a new position in Heritage Financial during the second quarter worth about $454,000. Legal & General Group Plc bought a new stake in Heritage Financial in the second quarter valued at approximately $2,665,000. The Manufacturers Life Insurance Company bought a new stake in Heritage Financial in the second quarter valued at approximately $9,142,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Heritage Financial in the second quarter valued at approximately $2,541,000. Finally, Capital Square LLC bought a new position in shares of Heritage Financial during the 2nd quarter worth approximately $1,697,000. 78.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HFWA shares. Wall Street Zen raised Heritage Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Zacks Research upgraded shares of Heritage Financial from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. DA Davidson increased their price objective on shares of Heritage Financial from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of Heritage Financial in a research note on Tuesday, July 7th. Finally, Stephens lifted their target price on shares of Heritage Financial from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.50.

Heritage Financial Stock Down 0.1%

HFWA opened at $28.74 on Thursday. The stock has a fifty day moving average of $29.56 and a 200-day moving average of $27.85. The company has a market capitalization of $1.18 billion, a P/E ratio of 13.69 and a beta of 0.50. Heritage Financial Corporation has a fifty-two week low of $21.32 and a fifty-two week high of $31.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.83.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.44 by $0.13. Heritage Financial had a net margin of 20.44% and a return on equity of 8.78%. The business had revenue of $84.12 million for the quarter, compared to the consensus estimate of $86.30 million. On average, equities analysts expect that Heritage Financial Corporation will post 2.37 EPS for the current year.

Heritage Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. This is an increase from Heritage Financial’s previous quarterly dividend of $0.24. Heritage Financial’s payout ratio is presently 47.62%.

Insider Activity

In other news, EVP Tony Chalfant sold 3,234 shares of Heritage Financial stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $29.92, for a total value of $96,761.28. Following the completion of the sale, the executive vice president directly owned 20,362 shares in the company, valued at approximately $609,231.04. The trade was a 13.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Ann Wilson sold 3,778 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $29.69, for a total value of $112,168.82. Following the completion of the sale, the executive vice president owned 3,099 shares of the company’s stock, valued at approximately $92,009.31. This trade represents a 54.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 24,546 shares of company stock worth $729,057. Insiders own 1.49% of the company’s stock.

About Heritage Financial

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.