Rothschild & Co. Asset Management US Inc. Cuts Holdings in Heritage Financial Corp (HFWA)

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Rothschild & Co. Asset Management US Inc. lowered its position in shares of Heritage Financial Corp (NASDAQ:HFWA) by 27.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,930 shares of the financial services provider’s stock after selling 28,752 shares during the quarter. Rothschild & Co. Asset Management US Inc.’s holdings in Heritage Financial were worth $2,669,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alps Advisors Inc. acquired a new stake in shares of Heritage Financial during the 2nd quarter worth approximately $539,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Heritage Financial during the 2nd quarter worth approximately $235,000. Texas Permanent School Fund acquired a new stake in shares of Heritage Financial during the 2nd quarter worth approximately $295,000. Brighton Jones LLC acquired a new stake in shares of Heritage Financial during the 2nd quarter worth approximately $754,000. Finally, Legal & General Group Plc raised its position in shares of Heritage Financial by 965.8% during the 2nd quarter. Legal & General Group Plc now owns 57,424 shares of the financial services provider’s stock worth $1,994,000 after purchasing an additional 52,036 shares during the period. Hedge funds and other institutional investors own 82.43% of the company’s stock.

In related news, Director Brian L. Vance sold 5,000 shares of the stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $34.49, for a total value of $172,450.00. Following the completion of the transaction, the director now directly owns 128,313 shares of the company’s stock, valued at approximately $4,425,515.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lisa Banner sold 1,326 shares of the stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $33.44, for a total value of $44,341.44. Following the completion of the transaction, the director now directly owns 2,387 shares of the company’s stock, valued at $79,821.28. The disclosure for this sale can be found here. Insiders sold a total of 11,941 shares of company stock valued at $413,031 over the last three months. Corporate insiders own 2.70% of the company’s stock.

A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research report on Thursday. BidaskClub upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. Finally, ValuEngine upgraded Heritage Financial from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $36.25.

Shares of HFWA stock opened at $34.97 on Friday. Heritage Financial Corp has a 12-month low of $28.46 and a 12-month high of $37.40. The company has a market capitalization of $1.28 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84.

Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Heritage Financial had a return on equity of 8.92% and a net margin of 20.10%. The business had revenue of $59.18 million during the quarter, compared to analyst estimates of $57.63 million. Equities research analysts forecast that Heritage Financial Corp will post 1.79 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.94%. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, November 6th. Heritage Financial’s dividend payout ratio is 45.95%.

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Heritage Financial Company Profile

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.

Read More: How can you know how many shares are floating?

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Institutional Ownership by Quarter for Heritage Financial (NASDAQ:HFWA)

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