California State Teachers Retirement System lowered its position in Heritage Financial Corp (NASDAQ:HFWA) by 9.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,257 shares of the financial services provider’s stock after selling 4,883 shares during the period. California State Teachers Retirement System owned about 0.16% of Heritage Financial worth $1,394,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Heritage Financial in the third quarter worth $131,000. Legal & General Group Plc grew its holdings in shares of Heritage Financial by 4.2% in the second quarter. Legal & General Group Plc now owns 7,369 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 297 shares during the period. Susquehanna International Group LLP bought a new stake in Heritage Financial during the second quarter valued at about $226,000. Principal Financial Group Inc. bought a new stake in Heritage Financial during the second quarter valued at about $274,000. Finally, Macquarie Group Ltd. bought a new stake in Heritage Financial during the third quarter valued at about $289,000. 68.48% of the stock is owned by institutional investors.
Heritage Financial Corp (HFWA) traded up $0.60 during midday trading on Wednesday, hitting $30.20. The stock had a trading volume of 163,330 shares, compared to its average volume of 175,449. The company has a market capitalization of $999.12, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.85 and a current ratio of 0.85. Heritage Financial Corp has a 1 year low of $22.50 and a 1 year high of $33.25.
Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $46.22 million during the quarter, compared to analyst estimates of $43.74 million. Heritage Financial had a return on equity of 8.90% and a net margin of 21.16%. sell-side analysts forecast that Heritage Financial Corp will post 1.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th will be paid a $0.15 dividend. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.99%. Heritage Financial’s dividend payout ratio is 46.88%.
HFWA has been the subject of several recent research reports. BidaskClub lowered Heritage Financial from a “buy” rating to a “hold” rating in a report on Friday, December 29th. FIG Partners raised Heritage Financial from a “market-perform” rating to an “outperform” rating in a report on Tuesday, December 12th. DA Davidson boosted their price target on Heritage Financial from $35.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Piper Jaffray Companies reissued a “hold” rating and set a $33.00 price target on shares of Heritage Financial in a report on Tuesday, January 9th. Finally, Sandler O’Neill reissued a “buy” rating and set a $35.50 price target on shares of Heritage Financial in a report on Friday, January 19th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Heritage Financial has an average rating of “Buy” and a consensus target price of $34.60.
In other news, Director John A. Clees sold 1,000 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $31.07, for a total value of $31,070.00. Following the completion of the transaction, the director now owns 46,042 shares of the company’s stock, valued at $1,430,524.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brian Charneski sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $31.78, for a total value of $63,560.00. Following the completion of the transaction, the director now directly owns 29,602 shares of the company’s stock, valued at approximately $940,751.56. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.
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About Heritage Financial
Heritage Financial Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its bank subsidiary, Heritage Bank (the Bank). The Bank’s lending activities focus on commercial business lending. The Bank also originates consumer loans, real estate construction and land development loans, and one- to four-family residential loans.
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