Charles Schwab Investment Management Inc. Has $7.88 Million Stock Holdings in Heritage Financial Corporation $HFWA

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Heritage Financial Corporation by 74.1%, now holding approximately 0.95% of the company's shares valued at $7,877,000.
• Heritage Financial reported an earnings per share (EPS) of $0.53, exceeding analyst expectations, but fell short of revenue forecasts with $56.50 million.
• The company recently declared a quarterly dividend of $0.24 per share, offering an annualized dividend yield of 4.0% with a payout ratio of 67.13%.

Charles Schwab Investment Management Inc. reduced its holdings in shares of Heritage Financial Corporation (NASDAQ:HFWA - Free Report) by 74.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 323,754 shares of the financial services provider's stock after selling 926,151 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.95% of Heritage Financial worth $7,877,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. CWM LLC grew its position in shares of Heritage Financial by 14.8% during the first quarter. CWM LLC now owns 4,042 shares of the financial services provider's stock worth $98,000 after acquiring an additional 520 shares during the last quarter. Brighton Jones LLC raised its holdings in Heritage Financial by 5.0% during the 1st quarter. Brighton Jones LLC now owns 11,864 shares of the financial services provider's stock worth $289,000 after buying an additional 567 shares during the period. GAMMA Investing LLC increased its holdings in shares of Heritage Financial by 45.3% in the 1st quarter. GAMMA Investing LLC now owns 2,972 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 927 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Heritage Financial by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,901 shares of the financial services provider's stock worth $733,000 after buying an additional 1,914 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Heritage Financial by 10.2% in the fourth quarter. MetLife Investment Management LLC now owns 20,710 shares of the financial services provider's stock worth $507,000 after buying an additional 1,917 shares during the last quarter. Institutional investors own 78.30% of the company's stock.

Heritage Financial Stock Down 0.4%

NASDAQ HFWA traded down $0.09 during trading on Friday, hitting $24.44. The stock had a trading volume of 122,825 shares, compared to its average volume of 215,324. Heritage Financial Corporation has a 12 month low of $19.84 and a 12 month high of $27.58. The company has a market capitalization of $829.81 million, a PE ratio of 17.09 and a beta of 0.57. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.85. The company's 50-day moving average price is $23.99 and its two-hundred day moving average price is $23.58.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.03. Heritage Financial had a return on equity of 7.34% and a net margin of 15.22%.The company had revenue of $56.50 million for the quarter, compared to analysts' expectations of $63.54 million. As a group, sell-side analysts forecast that Heritage Financial Corporation will post 2.09 EPS for the current year.

Heritage Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Wednesday, August 6th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, August 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.9%. Heritage Financial's payout ratio is presently 67.13%.

Analyst Ratings Changes

Separately, Wall Street Zen cut Heritage Financial from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Heritage Financial has an average rating of "Hold" and an average target price of $27.67.

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.