Prudential Financial Inc. decreased its holdings in Heritage Financial Corp (NASDAQ:HFWA) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,781 shares of the financial services provider’s stock after selling 390 shares during the quarter. Prudential Financial Inc. owned 0.15% of Heritage Financial worth $1,589,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Swiss National Bank raised its stake in Heritage Financial by 2.2% in the 2nd quarter. Swiss National Bank now owns 68,668 shares of the financial services provider’s stock worth $2,028,000 after purchasing an additional 1,500 shares in the last quarter. Clearbridge Investments LLC raised its stake in Heritage Financial by 54.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,907 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 676 shares in the last quarter. Vista Capital Partners Inc. acquired a new stake in Heritage Financial in the 1st quarter worth about $879,000. Texas Permanent School Fund raised its stake 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 worth $679,000 after purchasing an additional 821 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. raised its stake in Heritage Financial by 6.6% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 8,482 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 526 shares in the last quarter. Institutional investors and hedge funds own 80.63% of the company’s stock.
Several brokerages have weighed in on HFWA. Janney Montgomery Scott cut shares of Heritage Financial from a “buy” rating to a “neutral” rating in a research note on Friday, July 26th. ValuEngine upgraded shares of Heritage Financial from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Zacks Investment Research upgraded shares of Heritage Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, BidaskClub cut shares of Heritage Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Heritage Financial currently has an average rating of “Hold” and an average target price of $34.00.
Heritage Financial (NASDAQ:HFWA) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.07). The firm had revenue of $58.10 million during the quarter, compared to analyst estimates of $59.73 million. Heritage Financial had a net margin of 25.83% and a return on equity of 8.86%. Research analysts expect that Heritage Financial Corp will post 1.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a $0.19 dividend. The ex-dividend date was Wednesday, August 7th. This is a boost from Heritage Financial’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 2.68%. Heritage Financial’s payout ratio is presently 43.18%.
In related news, Director Brian L. Vance sold 2,274 shares of Heritage Financial stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $26.82, for a total transaction of $60,988.68. Following the sale, the director now directly owns 98,737 shares of the company’s stock, valued at approximately $2,648,126.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Bryan Mcdonald sold 4,000 shares of Heritage Financial stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $26.67, for a total transaction of $106,680.00. Following the sale, the chief operating officer now directly owns 11,119 shares in the company, valued at $296,543.73. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
Heritage Financial Company 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.
Further Reading: Trading Penny Stocks
Receive News & Ratings for Heritage Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heritage Financial and related companies with MarketBeat.com's FREE daily email newsletter.