Wellington Management Group LLP Has $15.64 Million Holdings in Heritage Financial Corporation $HFWA

Wellington Management Group LLP lessened its position in Heritage Financial Corporation (NASDAQ:HFWA) by 15.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 528,113 shares of the financial services provider’s stock after selling 100,207 shares during the quarter. Wellington Management Group LLP’s holdings in Heritage Financial were worth $15,643,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP bought a new stake in Heritage Financial during the second quarter valued at about $40,000. EverSource Wealth Advisors LLC grew its position in shares of Heritage Financial by 27,871.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,958 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,951 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Heritage Financial by 99.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,431 shares during the period. Global Retirement Partners LLC bought a new position in shares of Heritage Financial in the second quarter worth about $95,000. Finally, GAMMA Investing LLC lifted its position in shares of Heritage Financial by 12.2% during the 2nd quarter. GAMMA Investing LLC now owns 6,519 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 710 shares during the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Heritage Financial

In related news, EVP Matthew Ray sold 3,692 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $30.10, for a total value of $111,129.20. Following the completion of the transaction, the executive vice president directly owned 22,735 shares of the company’s stock, valued at $684,323.50. This trade represents a 13.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Wilson sold 3,778 shares of Heritage Financial stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $29.69, for a total transaction of $112,168.82. Following the sale, the executive vice president owned 3,099 shares in the company, valued at $92,009.31. This represents a 54.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 20,704 shares of company stock valued at $620,059. Company insiders own 1.49% of the company’s stock.

Heritage Financial Price Performance

HFWA stock opened at $29.29 on Tuesday. Heritage Financial Corporation has a twelve month low of $21.32 and a twelve month high of $31.25. The company has a market cap of $1.20 billion, a PE ratio of 13.95 and a beta of 0.48. The business’s 50-day simple moving average is $29.59 and its 200 day simple moving average is $27.90. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.17.

Heritage Financial (NASDAQ:HFWA) last posted 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. The firm had revenue of $84.12 million during the quarter, compared to analysts’ expectations of $86.30 million. Heritage Financial had a return on equity of 8.78% and a net margin of 20.44%. On average, research analysts anticipate that Heritage Financial Corporation will post 2.37 earnings per share for the current year.

Heritage Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were paid a $0.25 dividend. The ex-dividend date was Wednesday, August 5th. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.4%. Heritage Financial’s dividend payout ratio is currently 47.62%.

Heritage Financial Company Profile

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.