34,684 Shares in Heritage Financial Corporation (NASDAQ:HFWA) Bought by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd acquired 34,684 shares of Heritage Financial Corporation for about $844,000 in the first quarter, representing 0.10% ownership.
• The company reported earnings of $0.53 per share, exceeding analyst expectations of $0.50, but its revenue of $56.50 million fell short of the anticipated $63.54 million.
• Heritage Financial has announced a quarterly dividend of $0.24 per share, yielding 4.10%, with the dividend payout ratio currently at 64.86%.

Y Intercept Hong Kong Ltd purchased a new position in Heritage Financial Corporation (NASDAQ:HFWA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 34,684 shares of the financial services provider's stock, valued at approximately $844,000. Y Intercept Hong Kong Ltd owned approximately 0.10% of Heritage Financial as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jackson Creek Investment Advisors LLC purchased a new stake in Heritage Financial in the 1st quarter worth $1,505,000. Jennison Associates LLC increased its holdings in Heritage Financial by 24.7% in the 1st quarter. Jennison Associates LLC now owns 2,752,114 shares of the financial services provider's stock worth $66,959,000 after acquiring an additional 545,348 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Heritage Financial by 15,727.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,480,997 shares of the financial services provider's stock worth $36,033,000 after acquiring an additional 1,471,640 shares in the last quarter. CWM LLC increased 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 worth $98,000 after acquiring an additional 520 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Heritage Financial by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 193,820 shares of the financial services provider's stock worth $4,716,000 after acquiring an additional 4,101 shares in the last quarter. Hedge funds and other institutional investors own 78.30% of the company's stock.

Heritage Financial Trading Up 0.8%

Shares of Heritage Financial stock opened at $23.44 on Friday. The stock has a market cap of $799.54 million, a P/E ratio of 16.39 and a beta of 0.54. The stock's 50 day simple moving average is $23.95 and its 200-day simple moving average is $23.82. Heritage Financial Corporation has a 1-year low of $19.84 and a 1-year high of $27.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.85 and a quick ratio of 0.84.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.03. The business had revenue of $56.50 million for the quarter, compared to analysts' expectations of $63.54 million. Heritage Financial had a return on equity of 7.34% and a net margin of 15.22%. Analysts predict that Heritage Financial Corporation will post 2.09 EPS for the current fiscal year.

Heritage Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Wednesday, August 6th. Heritage Financial's dividend payout ratio is currently 64.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HFWA shares. Wall Street Zen lowered shares of Heritage Financial from a "hold" rating to a "sell" rating in a report on Saturday. Keefe, Bruyette & Woods cut their price target on shares of Heritage Financial from $27.00 to $26.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Finally, Piper Sandler dropped their target price on shares of Heritage Financial from $34.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, April 28th.

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.

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