Invesco Ltd. Has $8 Million Stock Holdings in Heritage Financial Corporation $HFWA

Invesco Ltd. cut its stake in Heritage Financial Corporation (NASDAQ:HFWA) by 11.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,781 shares of the financial services provider’s stock after selling 40,648 shares during the period. Invesco Ltd. owned approximately 0.96% of Heritage Financial worth $7,999,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 927 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in Heritage Financial by 519.0% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,553 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 2,979 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Heritage Financial by 475.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 3,989 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 3,296 shares in the last quarter. CWM LLC raised its holdings in Heritage Financial by 14.8% in the 1st quarter. CWM LLC now owns 4,042 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 520 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in Heritage Financial in the 1st quarter valued at $167,000. 78.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on HFWA. Keefe, Bruyette & Woods dropped their price objective on Heritage Financial from $27.00 to $26.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Wall Street Zen cut Heritage Financial from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Finally, Piper Sandler lowered their price target on Heritage Financial from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, April 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.67.

Heritage Financial Trading Down 1.2%

Shares of HFWA stock opened at $24.11 on Tuesday. The firm has a market capitalization of $818.53 million, a P/E ratio of 16.86 and a beta of 0.57. Heritage Financial Corporation has a twelve month low of $19.84 and a twelve month high of $27.58. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $23.87 and its 200 day simple moving average is $23.57.

Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The business had revenue of $56.50 million for the quarter, compared to analyst estimates of $63.54 million. Heritage Financial had a return on equity of 7.34% and a net margin of 15.22%. As a group, sell-side analysts predict that Heritage Financial Corporation will post 2.09 EPS for the current fiscal year.

Heritage Financial Dividend Announcement

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

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.