Heritage Financial Corporation $HFWA Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in Heritage Financial Corporation (NASDAQ:HFWA) by 74.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 323,754 shares of the financial services provider’s stock after selling 926,151 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.95% of Heritage Financial worth $7,877,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of HFWA. GAMMA Investing LLC raised its stake in shares of Heritage Financial by 45.3% in the 1st quarter. GAMMA Investing LLC now owns 2,972 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 927 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in Heritage Financial by 519.0% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,553 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 2,979 shares during the period. Public Employees Retirement System of Ohio raised its stake in Heritage Financial by 475.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,989 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 3,296 shares during the period. CWM LLC raised its stake in Heritage Financial by 14.8% during the first quarter. CWM LLC now owns 4,042 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 520 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in Heritage Financial by 81.6% during the fourth quarter. Point72 Asset Management L.P. now owns 7,900 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 3,549 shares during the period. Institutional investors and hedge funds own 78.30% of the company’s stock.

Heritage Financial Price Performance

NASDAQ HFWA opened at $24.11 on Tuesday. Heritage Financial Corporation has a 52 week low of $19.84 and a 52 week high of $27.58. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. The stock has a market cap of $818.53 million, a price-to-earnings ratio of 16.86 and a beta of 0.57. The company has a 50-day moving average price of $23.87 and a two-hundred day moving average price of $23.57.

Heritage Financial (NASDAQ:HFWA) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. Heritage Financial had a net margin of 15.22% and a return on equity of 7.34%. The firm had revenue of $56.50 million during the quarter, compared to analysts’ expectations of $63.54 million. Analysts forecast that Heritage Financial Corporation will post 2.09 EPS for the current year.

Heritage Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Wednesday, August 6th. Heritage Financial’s dividend payout ratio (DPR) is currently 67.13%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Heritage Financial from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Piper Sandler dropped their price objective on shares of Heritage Financial from $34.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Heritage Financial from $27.00 to $26.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Heritage Financial presently has a consensus rating of “Hold” and an average price target of $27.67.

Heritage Financial Profile

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.