Bank of New York Mellon Corp Trims Stock Holdings in Heritage Financial Corporation (NASDAQ:HFWA)

Bank of New York Mellon Corp cut its position in shares of Heritage Financial Corporation (NASDAQ:HFWA - Free Report) by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 354,123 shares of the financial services provider's stock after selling 12,713 shares during the quarter. Bank of New York Mellon Corp owned about 1.04% of Heritage Financial worth $8,616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in Heritage Financial by 2.2% in the first 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. Keybank National Association OH boosted its holdings in Heritage Financial by 17.7% in the first quarter. Keybank National Association OH now owns 58,674 shares of the financial services provider's stock worth $1,428,000 after acquiring an additional 8,833 shares in the last quarter. Diversified Trust Co bought a new stake in Heritage Financial in the first quarter worth $214,000. Brighton Jones LLC boosted its holdings in Heritage Financial by 5.0% in the first quarter. Brighton Jones LLC now owns 11,864 shares of the financial services provider's stock worth $289,000 after acquiring an additional 567 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Heritage Financial by 45.3% in the first quarter. GAMMA Investing LLC now owns 2,972 shares of the financial services provider's stock worth $72,000 after acquiring an additional 927 shares in the last quarter. 78.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Piper Sandler dropped their target price on Heritage Financial from $34.00 to $31.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price target on Heritage Financial from $27.00 to $26.00 and set a "market perform" rating for the company in a research note on Monday, April 28th.

Heritage Financial Stock Performance

Shares of NASDAQ:HFWA traded down $1.25 during midday trading on Thursday, reaching $23.71. 104,296 shares of the company's stock traded hands, compared to its average volume of 224,692. The company has a market cap of $808.75 million, a price-to-earnings ratio of 16.02 and a beta of 0.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.84 and a current ratio of 0.84. Heritage Financial Corporation has a one year low of $19.84 and a one year high of $27.58. The stock has a 50 day moving average of $23.96 and a 200 day moving average of $23.83.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.02. Heritage Financial had a return on equity of 7.12% and a net margin of 15.73%. As a group, equities research analysts anticipate 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 will be paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.05%. Heritage Financial's dividend payout ratio (DPR) is presently 64.86%.

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.