Kennedy Capital Management Inc. cut its stake in Heritage Financial Corporation (NASDAQ:HFWA) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 320,705 shares of the financial services provider’s stock after selling 4,622 shares during the quarter. Kennedy Capital Management Inc. owned about 1.08% of Heritage Financial Corporation worth $8,499,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Pinnacle Associates Ltd. increased its holdings in shares of Heritage Financial Corporation by 2.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 10,600 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 300 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Heritage Financial Corporation in the 2nd quarter valued at $274,000. IndexIQ Advisors LLC purchased a new position in shares of Heritage Financial Corporation in the 2nd quarter valued at $507,000. Victory Capital Management Inc. increased its holdings in shares of Heritage Financial Corporation by 5.5% in the 2nd quarter. Victory Capital Management Inc. now owns 78,320 shares of the financial services provider’s stock valued at $2,075,000 after acquiring an additional 4,060 shares during the period. Finally, MUFG Americas Holdings Corp increased its holdings in shares of Heritage Financial Corporation by 1.2% in the 2nd quarter. MUFG Americas Holdings Corp now owns 3,952 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 75.92% of the company’s stock.
A number of research analysts have recently issued reports on HFWA shares. ValuEngine upgraded Heritage Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $27.00 price target on shares of Heritage Financial Corporation in a report on Friday, June 2nd. Zacks Investment Research upgraded Heritage Financial Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub downgraded Heritage Financial Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $25.00 price target on shares of Heritage Financial Corporation in a report on Wednesday, July 12th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $28.67.
In other Heritage Financial Corporation news, Director John A. Clees sold 2,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $27.28, for a total value of $54,560.00. Following the sale, the director now directly owns 49,042 shares in the company, valued at $1,337,865.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.70% of the stock is owned by company insiders.
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Heritage Financial Corporation (HFWA) opened at 25.80 on Friday. Heritage Financial Corporation has a 52 week low of $17.60 and a 52 week high of $27.70. The stock has a market capitalization of $768.32 million, a P/E ratio of 18.43 and a beta of 0.49. The company’s 50-day moving average price is $26.58 and its 200 day moving average price is $25.43.
Heritage Financial Corporation (NASDAQ:HFWA) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.07. Heritage Financial Corporation had a return on equity of 8.56% and a net margin of 23.81%. The company had revenue of $44.84 million for the quarter, compared to analysts’ expectations of $41.59 million. Equities research analysts expect that Heritage Financial Corporation will post $1.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Tuesday, August 8th. Heritage Financial Corporation’s dividend payout ratio is presently 37.14%.
Heritage Financial Corporation Company Profile
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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