Northpointe Capital LLC Buys 231,804 Shares of Heritage Financial Corporation (HFWA)
Northpointe Capital LLC increased its position in Heritage Financial Corporation (NASDAQ:HFWA) by 446.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 283,719 shares of the financial services provider’s stock after buying an additional 231,804 shares during the period. Northpointe Capital LLC’s holdings in Heritage Financial Corporation were worth $7,519,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of HFWA. Mendon Capital Advisors Corp bought a new stake in shares of Heritage Financial Corporation during the first quarter worth approximately $11,270,000. JPMorgan Chase & Co. increased its stake in shares of Heritage Financial Corporation by 345.5% in the first quarter. JPMorgan Chase & Co. now owns 477,322 shares of the financial services provider’s stock worth $11,814,000 after buying an additional 370,180 shares during the last quarter. RMB Capital Management LLC bought a new stake in shares of Heritage Financial Corporation during the first quarter worth approximately $6,262,000. Rothschild Asset Management Inc. bought a new stake in shares of Heritage Financial Corporation during the first quarter worth approximately $3,128,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Heritage Financial Corporation by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,508,816 shares of the financial services provider’s stock worth $37,343,000 after buying an additional 103,521 shares during the last quarter. Hedge funds and other institutional investors own 78.94% of the company’s stock.
Heritage Financial Corporation (NASDAQ HFWA) opened at 26.725 on Tuesday. Heritage Financial Corporation has a 12-month low of $16.89 and a 12-month high of $27.70. The firm has a market cap of $795.87 million, a PE ratio of 19.089 and a beta of 0.48. The company has a 50-day moving average price of $26.58 and a 200-day moving average price of $25.30.
Heritage Financial Corporation (NASDAQ:HFWA) last announced its quarterly earnings data 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 analyst estimates of $41.59 million. On average, equities analysts predict that Heritage Financial Corporation will post $1.42 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, August 8th. Heritage Financial Corporation’s dividend payout ratio is presently 37.14%.
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A number of analysts have recently commented on HFWA shares. Zacks Investment Research downgraded Heritage Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 1st. Piper Jaffray Companies reduced their price target on Heritage Financial Corporation from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Monday, April 17th. BidaskClub cut Heritage Financial Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $28.67.
In other Heritage Financial Corporation news, Director John A. Clees sold 2,000 shares of Heritage Financial Corporation stock in a transaction that occurred 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 owns 49,042 shares of the company’s stock, valued at approximately $1,337,865.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by insiders.
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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