[ad_1]
Bank of New York Mellon Corp decreased its stake in shares of Heritage Financial Corporation (NASDAQ:HFWA – Free Report) by 3.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 354,123 shares of the financial services provider’s stock after selling 12,713 shares during the quarter. Bank of New York Mellon Corp’s holdings in Heritage Financial were worth $8,616,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Victory Capital Management Inc. bought a new position in shares of Heritage Financial in the fourth quarter valued at approximately $229,000. Proficio Capital Partners LLC bought a new position in shares of Heritage Financial in the fourth quarter valued at approximately $280,000. Intech Investment Management LLC boosted its holdings in shares of Heritage Financial by 85.8% in the fourth quarter. Intech Investment Management LLC now owns 34,307 shares of the financial services provider’s stock valued at $841,000 after acquiring an additional 15,840 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Heritage Financial in the fourth quarter valued at approximately $166,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Heritage Financial in the fourth quarter valued at approximately $157,000. Institutional investors own 78.30% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on HFWA shares. Keefe, Bruyette & Woods decreased their target price on shares of Heritage Financial from $27.00 to $26.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. Piper Sandler decreased their target price on shares of Heritage Financial from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, April 28th.
Check Out Our Latest Stock Analysis on Heritage Financial
Heritage Financial Price Performance
HFWA stock opened at $25.00 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.33. Heritage Financial Corporation has a 12 month low of $19.84 and a 12 month high of $27.58. The firm has a market cap of $852.75 million, a P/E ratio of 14.09 and a beta of 0.54. The company’s 50-day moving average price is $23.93 and its two-hundred day moving average price is $23.81.
Heritage Financial (NASDAQ:HFWA – Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Heritage Financial had a net margin of 15.73% and a return on equity of 7.12%. The firm had revenue of $57.59 million for the quarter, compared to the consensus estimate of $61.74 million. On average, analysts anticipate that Heritage Financial Corporation will post 2.09 earnings per share for the current fiscal year.
Heritage Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Wednesday, May 7th. Heritage Financial’s dividend payout ratio (DPR) is currently 64.86%.
About Heritage Financial
Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to small and medium sized businesses and individuals in the United States. It accepts various deposit products, such as noninterest demand deposits, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.
Featured Stories
Want to see what other hedge funds are holding HFWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Heritage Financial Corporation (NASDAQ:HFWA – Free Report).
Receive News & Ratings for Heritage Financial Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Heritage Financial and related companies with MarketBeat.com’s FREE daily email newsletter.
[ad_2]
Source link