Geode Capital Management LLC increased its stake in Heritage Financial Corporation (NASDAQ:HFWA) by 5.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 256,354 shares of the financial services provider’s stock after buying an additional 12,988 shares during the period. Geode Capital Management LLC owned 0.86% of Heritage Financial Corporation worth $6,344,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. TFS Capital LLC bought a new stake in shares of Heritage Financial Corporation during the first quarter valued at $210,000. American International Group Inc. raised its position in shares of Heritage Financial Corporation by 7.0% in the first quarter. American International Group Inc. now owns 18,138 shares of the financial services provider’s stock worth $449,000 after buying an additional 1,179 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Heritage Financial Corporation by 21.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 24,154 shares of the financial services provider’s stock worth $598,000 after buying an additional 4,257 shares during the period. Thrivent Financial For Lutherans acquired a new position in shares of Heritage Financial Corporation during the first quarter worth approximately $700,000. Finally, Pacific Ridge Capital Partners LLC raised its position in shares of Heritage Financial Corporation by 30.0% in the first quarter. Pacific Ridge Capital Partners LLC now owns 29,369 shares of the financial services provider’s stock worth $727,000 after buying an additional 6,780 shares during the period. 78.94% of the stock is currently owned by hedge funds and other institutional investors.
Heritage Financial Corporation (HFWA) opened at 26.15 on Friday. The firm has a market capitalization of $778.75 million, a price-to-earnings ratio of 18.68 and a beta of 0.48. Heritage Financial Corporation has a 12-month low of $17.60 and a 12-month high of $27.70. The company’s 50-day moving average price is $26.63 and its 200-day moving average price is $25.32.
Heritage Financial Corporation (NASDAQ:HFWA) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. The company had revenue of $44.84 million for the quarter, compared to analyst estimates of $41.59 million. Heritage Financial Corporation had a return on equity of 8.56% and a net margin of 23.81%. Equities analysts expect that Heritage Financial Corporation will post $1.42 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, August 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.99%. Heritage Financial Corporation’s payout ratio is currently 37.14%.
A number of research analysts have recently commented on HFWA shares. Zacks Investment Research lowered Heritage Financial Corporation from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Piper Jaffray Companies reissued a “hold” rating and set a $25.00 price target on shares of Heritage Financial Corporation in a report on Wednesday, July 12th. BidaskClub lowered Heritage Financial Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $27.00 price target on shares of Heritage Financial Corporation in a report on Friday, June 2nd. Finally, ValuEngine raised Heritage Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $28.67.
In other news, Director John A. Clees sold 2,000 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $27.28, for a total transaction of $54,560.00. Following the completion of the sale, the director now owns 49,042 shares in the company, valued at $1,337,865.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.
About Heritage Financial Corporation
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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