California Public Employees Retirement System Trims Holdings in Heritage Financial Corp (NASDAQ:HFWA)

California Public Employees Retirement System cut its stake in Heritage Financial Corp (NASDAQ:HFWA) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,658 shares of the financial services provider’s stock after selling 1,952 shares during the period. California Public Employees Retirement System’s holdings in Heritage Financial were worth $1,828,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. United Services Automobile Association boosted its holdings in Heritage Financial by 14.2% in the 4th quarter. United Services Automobile Association now owns 9,481 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 1,181 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in Heritage Financial by 12.0% in the 4th quarter. Xact Kapitalforvaltning AB now owns 13,023 shares of the financial services provider’s stock valued at $387,000 after purchasing an additional 1,400 shares during the period. Texas Permanent School Fund boosted its holdings in Heritage Financial by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 22,537 shares of the financial services provider’s stock valued at $679,000 after purchasing an additional 821 shares during the period. Rhumbline Advisers boosted its holdings in Heritage Financial by 21.7% in the 4th quarter. Rhumbline Advisers now owns 109,321 shares of the financial services provider’s stock valued at $3,249,000 after purchasing an additional 19,481 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Heritage Financial by 12.0% in the 4th quarter. Geode Capital Management LLC now owns 382,935 shares of the financial services provider’s stock valued at $11,380,000 after purchasing an additional 41,164 shares during the period. 81.44% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Brian L. Vance sold 3,885 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $30.74, for a total value of $119,424.90. Following the completion of the transaction, the director now owns 101,011 shares in the company, valued at approximately $3,105,078.14. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Brian L. Vance sold 13,621 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $31.53, for a total transaction of $429,470.13. Following the completion of the transaction, the director now owns 115,630 shares of the company’s stock, valued at approximately $3,645,813.90. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Heritage Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. BidaskClub cut shares of Heritage Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, March 22nd. Finally, Stephens restated a “hold” rating and issued a $36.00 price objective on shares of Heritage Financial in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.00.

Shares of HFWA stock opened at $29.38 on Thursday. Heritage Financial Corp has a 52-week low of $27.81 and a 52-week high of $37.40. The firm has a market capitalization of $1.08 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 2.09 and a beta of 0.74. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06.

Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.04). Heritage Financial had a net margin of 25.04% and a return on equity of 8.77%. The business had revenue of $57.22 million during the quarter, compared to analyst estimates of $59.73 million. As a group, equities research analysts forecast that Heritage Financial Corp will post 1.99 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Tuesday, May 7th. Heritage Financial’s dividend payout ratio is 40.91%.

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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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Institutional Ownership by Quarter for Heritage Financial (NASDAQ:HFWA)

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