Private Management Group Inc. Decreases Position in Heritage Financial Corporation (HFWA)
Private Management Group Inc. lowered its stake in shares of Heritage Financial Corporation (NASDAQ:HFWA) by 19.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,491 shares of the financial services provider’s stock after selling 37,315 shares during the period. Private Management Group Inc. owned approximately 0.52% of Heritage Financial Corporation worth $4,094,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Parkwood LLC raised its position in shares of Heritage Financial Corporation by 14.8% in the second quarter. Parkwood LLC now owns 9,478 shares of the financial services provider’s stock valued at $251,000 after buying an additional 1,225 shares during the period. Martingale Asset Management L P raised its position in shares of Heritage Financial Corporation by 3.8% in the first quarter. Martingale Asset Management L P now owns 182,057 shares of the financial services provider’s stock valued at $4,506,000 after buying an additional 6,600 shares during the period. Baird Financial Group Inc. raised its position in shares of Heritage Financial Corporation by 1.2% in the first quarter. Baird Financial Group Inc. now owns 35,708 shares of the financial services provider’s stock valued at $884,000 after buying an additional 410 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Heritage Financial Corporation by 5.7% in the first quarter. Parametric Portfolio Associates LLC now owns 41,335 shares of the financial services provider’s stock valued at $1,023,000 after buying an additional 2,243 shares during the period. Finally, TFS Capital LLC purchased a new position in shares of Heritage Financial Corporation during the first quarter valued at $210,000. 75.92% of the stock is owned by institutional investors and hedge funds.
Heritage Financial Corporation (HFWA) opened at 26.00 on Friday. Heritage Financial Corporation has a 12-month low of $17.60 and a 12-month high of $27.70. The company has a market capitalization of $774.28 million, a price-to-earnings ratio of 18.57 and a beta of 0.49. The stock has a 50 day moving average price of $26.58 and a 200-day moving average price of $25.41.
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 the consensus estimate of $0.32 by $0.07. The firm had revenue of $44.84 million during 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 predict that Heritage Financial Corporation will post $1.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.52 annualized dividend and a dividend yield of 2.00%. Heritage Financial Corporation’s dividend payout ratio (DPR) is 37.14%.
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Several brokerages have weighed in on HFWA. Zacks Investment Research lowered Heritage Financial Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Piper Jaffray Companies set a $29.00 price target on Heritage Financial Corporation and gave the stock a “hold” rating in a report on Monday, August 14th. BidaskClub lowered Heritage Financial Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. ValuEngine raised Heritage Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday. Finally, 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. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.67.
In other news, Director John A. Clees sold 2,000 shares of the company’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 completion of the sale, the director now directly owns 49,042 shares in the company, valued at approximately $1,337,865.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.70% of the company’s stock.
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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