Northern Trust Corp boosted its position in shares of Heritage Financial Corp (NASDAQ:HFWA) by 9.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 572,632 shares of the financial services provider’s stock after purchasing an additional 47,270 shares during the quarter. Northern Trust Corp owned approximately 1.55% of Heritage Financial worth $19,957,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of HFWA. Metropolitan Life Insurance Co. NY lifted its position in shares of Heritage Financial by 14.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 11,142 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 1,419 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Heritage Financial by 10.3% in the first quarter. Principal Financial Group Inc. now owns 19,486 shares of the financial services provider’s stock valued at $596,000 after acquiring an additional 1,820 shares in the last quarter. Sei Investments Co. lifted its position in shares of Heritage Financial by 61.5% in the second quarter. Sei Investments Co. now owns 4,919 shares of the financial services provider’s stock valued at $172,000 after acquiring an additional 1,873 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of Heritage Financial by 27.4% in the second quarter. Xact Kapitalforvaltning AB now owns 11,623 shares of the financial services provider’s stock valued at $405,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Washington Trust Bank purchased a new stake in shares of Heritage Financial in the second quarter valued at $103,000. Institutional investors own 79.50% of the company’s stock.
Several analysts have recently issued reports on HFWA shares. BidaskClub upgraded Heritage Financial from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. Zacks Investment Research upgraded Heritage Financial from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Wednesday, September 26th. ValuEngine downgraded Heritage Financial from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Finally, Keefe, Bruyette & Woods downgraded Heritage Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Heritage Financial has a consensus rating of “Hold” and a consensus target price of $36.20.
Heritage Financial stock opened at $32.83 on Wednesday. The firm has a market capitalization of $1.17 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 2.57 and a beta of 0.48. Heritage Financial Corp has a 52 week low of $28.46 and a 52 week high of $37.40. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.03.
Heritage Financial (NASDAQ:HFWA) last released its earnings results on Thursday, October 25th. The financial services provider reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The firm had revenue of $59.18 million during the quarter, compared to analyst estimates of $57.63 million. Heritage Financial had a return on equity of 8.92% and a net margin of 20.10%. Research analysts predict that Heritage Financial Corp will post 1.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, November 7th will be paid a $0.17 dividend. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Tuesday, November 6th. Heritage Financial’s dividend payout ratio is presently 40.54%.
Heritage Financial Profile
Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to businesses and individuals in the United States. The company accepts various deposit products, such as noninterest demand accounts, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.
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