Rothschild Asset Management Inc. cut its stake in shares of Heritage Financial Corp (NASDAQ:HFWA) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,682 shares of the financial services provider’s stock after selling 4,186 shares during the quarter. Rothschild Asset Management Inc.’s holdings in Heritage Financial were worth $3,648,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of HFWA. Cardinal Capital Management LLC CT lifted its holdings in shares of Heritage Financial by 187.1% during the first quarter. Cardinal Capital Management LLC CT now owns 827,472 shares of the financial services provider’s stock worth $25,321,000 after purchasing an additional 539,225 shares during the period. Eagle Asset Management Inc. acquired a new stake in shares of Heritage Financial during the first quarter worth $14,163,000. Millennium Management LLC lifted its holdings in shares of Heritage Financial by 158.5% during the first quarter. Millennium Management LLC now owns 473,735 shares of the financial services provider’s stock worth $14,496,000 after purchasing an additional 290,477 shares during the period. Jennison Associates LLC acquired a new stake in shares of Heritage Financial during the second quarter worth $8,474,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Heritage Financial by 26.3% during the second quarter. Bank of New York Mellon Corp now owns 800,900 shares of the financial services provider’s stock worth $27,912,000 after purchasing an additional 166,844 shares during the period. 77.41% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on HFWA shares. Zacks Investment Research raised Heritage Financial from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Thursday, April 26th. BidaskClub downgraded Heritage Financial from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 18th. ValuEngine downgraded Heritage Financial from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Keefe, Bruyette & Woods downgraded Heritage Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, July 26th. Finally, Piper Jaffray Companies raised Heritage Financial from a “neutral” rating to an “overweight” rating and set a $35.00 target price for the company in a report on Wednesday, May 2nd. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Heritage Financial has a consensus rating of “Buy” and an average target price of $35.60.
Heritage Financial stock opened at $35.75 on Tuesday. Heritage Financial Corp has a one year low of $25.25 and a one year high of $37.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 1.99 and a beta of 0.50.
Heritage Financial (NASDAQ:HFWA) last released its earnings results on Wednesday, July 25th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.09). Heritage Financial had a net margin of 19.36% and a return on equity of 8.54%. The business had revenue of $51.32 million during the quarter, compared to analyst estimates of $50.90 million. analysts predict that Heritage Financial Corp will post 1.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 23rd. Shareholders of record on Thursday, August 9th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Wednesday, August 8th. Heritage Financial’s dividend payout ratio (DPR) is currently 40.54%.
In other news, CFO Donald Hinson sold 1,316 shares of Heritage Financial stock in a transaction on Friday, July 27th. The stock was sold at an average price of $36.11, for a total transaction of $47,520.76. Following the completion of the transaction, the chief financial officer now owns 31,909 shares of the company’s stock, valued at approximately $1,152,233.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian L. Vance sold 6,734 shares of Heritage Financial stock in a transaction on Friday, July 27th. The stock was sold at an average price of $36.29, for a total value of $244,376.86. Following the transaction, the director now directly owns 133,313 shares of the company’s stock, valued at approximately $4,837,928.77. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.
About Heritage Financial
Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to businesses and individuals in the United States. The company accepts various deposit products, such as noninterest demand accounts, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.
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