Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Heritage Financial Corporation (NASDAQ:HFWA - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 85,784 shares of the financial services provider's stock, valued at approximately $2,541,000. Connor Clark & Lunn Investment Management Ltd. owned 0.21% of Heritage Financial at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Heritage Financial in the 2nd quarter valued at $172,125,000. Jennison Associates LLC raised its position in Heritage Financial by 3.4% during the first quarter. Jennison Associates LLC now owns 3,213,473 shares of the financial services provider's stock worth $83,550,000 after acquiring an additional 106,308 shares during the period. Vanguard Group Inc. raised its position in Heritage Financial by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 2,412,325 shares of the financial services provider's stock worth $57,051,000 after acquiring an additional 45,422 shares during the period. State Street Corp lifted its holdings in Heritage Financial by 3.2% during the fourth quarter. State Street Corp now owns 1,573,458 shares of the financial services provider's stock valued at $37,212,000 after purchasing an additional 48,765 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Heritage Financial by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 842,598 shares of the financial services provider's stock valued at $19,929,000 after purchasing an additional 4,170 shares in the last quarter. Hedge funds and other institutional investors own 78.30% of the company's stock.
Analyst Ratings Changes
Several analysts have recently issued reports on HFWA shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Heritage Financial in a research report on Tuesday, July 7th. Stephens upped their price target on shares of Heritage Financial from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 28th. Wall Street Zen raised shares of Heritage Financial from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Zacks Research upgraded Heritage Financial from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. Finally, DA Davidson boosted their price objective on Heritage Financial from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $32.50.
Get Our Latest Research Report on Heritage Financial
Heritage Financial Trading Up 0.0%
Shares of HFWA stock opened at $28.67 on Friday. Heritage Financial Corporation has a fifty-two week low of $21.32 and a fifty-two week high of $31.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.83 and a current ratio of 0.83. The stock's fifty day moving average is $29.59 and its two-hundred day moving average is $27.86. The firm has a market capitalization of $1.17 billion, a P/E ratio of 13.65 and a beta of 0.50.
Heritage Financial (NASDAQ:HFWA - Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.13. The business had revenue of $84.12 million during the quarter, compared to analyst estimates of $86.30 million. Heritage Financial had a net margin of 20.44% and a return on equity of 8.78%. Research analysts expect that Heritage Financial Corporation will post 2.37 earnings per share for the current fiscal year.
Heritage Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $1.00 annualized dividend and a yield of 3.5%. This is a boost from Heritage Financial's previous quarterly dividend of $0.24. Heritage Financial's dividend payout ratio is currently 47.62%.
Insider Buying and Selling
In other Heritage Financial news, CFO Donald Hinson sold 3,842 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $28.37, for a total value of $108,997.54. Following the completion of the sale, the chief financial officer owned 41,241 shares in the company, valued at approximately $1,170,007.17. This represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Ann Wilson sold 3,778 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $29.69, for a total transaction of $112,168.82. Following the completion of the transaction, the executive vice president directly owned 3,099 shares in the company, valued at $92,009.31. This trade represents a 54.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 24,546 shares of company stock worth $729,057 in the last 90 days. Corporate insiders own 1.49% of the company's stock.
Heritage Financial Company Profile
(
Free Report)
Heritage Financial Corporation NASDAQ: HFWA is a bank holding company headquartered in Spokane, Washington. Through its primary subsidiary, Heritage Bank, the company provides a comprehensive range of banking and financial services to both individual and commercial clients. Heritage Bank's offerings encompass deposit products, lending solutions, treasury and cash management services, mortgage banking, and wealth management, positioning the organization as a full-service community bank.
The company's lending portfolio includes commercial real estate loans, agricultural loans, small business administration (SBA) loans, construction and development financing, and a variety of consumer mortgage products.
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