Rhumbline Advisers Has $2.38 Million Position in Heritage Financial Co. (NASDAQ:HFWA)

Rhumbline Advisers reduced its holdings in shares of Heritage Financial Co. (NASDAQ:HFWA) by 6.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,786 shares of the financial services provider’s stock after selling 6,647 shares during the quarter. Rhumbline Advisers owned 0.29% of Heritage Financial worth $2,379,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. lifted its position in shares of Heritage Financial by 112.5% during the fourth quarter. Invesco Ltd. now owns 369,429 shares of the financial services provider’s stock worth $9,051,000 after acquiring an additional 195,541 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new stake in shares of Heritage Financial in the fourth quarter worth about $3,755,000. Russell Investments Group Ltd. lifted its holdings in shares of Heritage Financial by 357.0% in the fourth quarter. Russell Investments Group Ltd. now owns 143,913 shares of the financial services provider’s stock worth $3,526,000 after buying an additional 112,419 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Heritage Financial by 83.3% in the fourth quarter. JPMorgan Chase & Co. now owns 225,948 shares of the financial services provider’s stock worth $5,536,000 after buying an additional 102,665 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Heritage Financial by 3,435.9% in the 1st quarter. GAMMA Investing LLC now owns 72,309 shares of the financial services provider’s stock worth $17,590,000 after purchasing an additional 70,264 shares in the last quarter. 78.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Piper Sandler lowered their price target on Heritage Financial from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on Heritage Financial from $27.00 to $26.00 and set a “market perform” rating on the stock in a report on Monday, April 28th.

Heritage Financial Trading Down 0.2%

Shares of NASDAQ HFWA opened at $22.72 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.82 and a current ratio of 0.84. The business’s 50 day moving average price is $23.00 and its 200-day moving average price is $23.94. Heritage Financial Co. has a fifty-two week low of $16.55 and a fifty-two week high of $27.58. The company has a market cap of $774.89 million, a price-to-earnings ratio of 18.32 and a beta of 0.55.

Heritage Financial (NASDAQ:HFWA) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $57.59 million for the quarter, compared to analyst estimates of $61.74 million. Heritage Financial had a net margin of 13.64% and a return on equity of 7.17%. On average, sell-side analysts expect that Heritage Financial Co. will post 2.09 earnings per share for the current year.

Heritage Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Wednesday, May 7th. Heritage Financial’s payout ratio is 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.