First Trust Advisors LP Sells 9,157 Shares of Heritage Financial Corporation (HFWA)
First Trust Advisors LP lowered its stake in shares of Heritage Financial Corporation (NASDAQ:HFWA) by 11.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,859 shares of the financial services provider’s stock after selling 9,157 shares during the period. First Trust Advisors LP owned 0.24% of Heritage Financial Corporation worth $1,878,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HFWA. TFS Capital LLC acquired a new position in Heritage Financial Corporation during the first quarter worth $210,000. Aperio Group LLC acquired a new position in shares of Heritage Financial Corporation in the 2nd quarter valued at $217,000. Parkwood LLC lifted its stake in shares of Heritage Financial Corporation by 14.8% in the 2nd quarter. Parkwood LLC now owns 9,478 shares of the financial services provider’s stock valued at $251,000 after purchasing an additional 1,225 shares during the last quarter. American International Group Inc. lifted its stake in shares of Heritage Financial Corporation by 7.0% in the 1st quarter. American International Group Inc. now owns 18,138 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 1,179 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Heritage Financial Corporation by 21.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,154 shares of the financial services provider’s stock valued at $598,000 after purchasing an additional 4,257 shares during the last quarter. 75.92% of the stock is currently owned by institutional investors.
In other news, Director John A. Clees sold 2,000 shares of Heritage Financial Corporation 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 owns 49,042 shares of the company’s stock, valued at $1,337,865.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.70% of the stock is owned by insiders.
Several brokerages have recently commented on HFWA. Piper Jaffray Companies set a $29.00 price target on Heritage Financial Corporation and gave the company a “hold” rating in a research note on Monday, August 14th. Zacks Investment Research lowered Heritage Financial Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. ValuEngine raised Heritage Financial Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $27.00 price target on shares of Heritage Financial Corporation in a research note on Friday, June 2nd. Finally, BidaskClub lowered Heritage Financial Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $28.67.
Heritage Financial Corporation (NASDAQ:HFWA) opened at 26.90 on Wednesday. The firm has a market cap of $801.08 million, a price-to-earnings ratio of 19.21 and a beta of 0.49. Heritage Financial Corporation has a 52 week low of $17.60 and a 52 week high of $27.70. The stock has a 50 day moving average price of $26.60 and a 200 day moving average price of $25.43.
Heritage Financial Corporation (NASDAQ:HFWA) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.07. The business had revenue of $44.84 million during the quarter, compared to the consensus estimate of $41.59 million. Heritage Financial Corporation had a return on equity of 8.56% and a net margin of 23.81%. Equities research analysts expect that Heritage Financial Corporation will post $1.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Tuesday, August 8th. Heritage Financial Corporation’s dividend payout ratio is currently 37.14%.
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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