Wells Fargo & Company MN lifted its stake in Heritage Financial Corp (NASDAQ:HFWA) by 55.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 333,559 shares of the financial services provider’s stock after purchasing an additional 119,188 shares during the quarter. Wells Fargo & Company MN owned about 0.90% of Heritage Financial worth $9,853,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. OppenheimerFunds Inc. raised its holdings in Heritage Financial by 33.6% in the 1st quarter. OppenheimerFunds Inc. now owns 537,593 shares of the financial services provider’s stock worth $16,202,000 after acquiring an additional 135,264 shares during the last quarter. Jennison Associates LLC boosted its holdings in Heritage Financial by 31.1% in the 1st quarter. Jennison Associates LLC now owns 509,441 shares of the financial services provider’s stock worth $15,355,000 after buying an additional 120,869 shares during the period. Boston Partners boosted its holdings in Heritage Financial by 3.5% in the 1st quarter. Boston Partners now owns 147,614 shares of the financial services provider’s stock worth $4,449,000 after buying an additional 5,012 shares during the period. Comerica Bank boosted its holdings in Heritage Financial by 0.5% in the 1st quarter. Comerica Bank now owns 114,699 shares of the financial services provider’s stock worth $3,537,000 after buying an additional 591 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Heritage Financial by 13.6% in the 1st quarter. Victory Capital Management Inc. now owns 83,743 shares of the financial services provider’s stock worth $2,524,000 after buying an additional 10,030 shares during the period. 82.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:HFWA traded up $0.18 during trading on Thursday, reaching $27.16. The company’s stock had a trading volume of 5,318 shares, compared to its average volume of 129,205. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.14. Heritage Financial Corp has a 12 month low of $25.24 and a 12 month high of $37.35. The firm’s 50 day simple moving average is $26.83 and its two-hundred day simple moving average is $29.42. The stock has a market capitalization of $972.95 million, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.06 and a beta of 0.75.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.19 dividend. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Wednesday, August 7th. Heritage Financial’s dividend payout ratio is 43.18%.
In related news, Director Brian L. Vance sold 2,274 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $26.82, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Bryan Mcdonald sold 4,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $26.67, for a total transaction of $106,680.00. Following the completion of 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. Insiders sold a total of 7,250 shares of company stock worth $196,217 over the last three months. 1.60% of the stock is currently owned by corporate insiders.
Several research analysts have commented on HFWA shares. BidaskClub downgraded shares of Heritage Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. ValuEngine raised shares of Heritage Financial from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Janney Montgomery Scott downgraded shares of Heritage Financial from a “buy” rating to a “neutral” rating in a report on Friday, July 26th. Finally, Zacks Investment Research raised shares of Heritage Financial from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $34.00.
About Heritage Financial
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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