Northern Trust Corp Has $10.03 Million Holdings in Heritage Financial Corporation $HFWA

Key Points

• Northern Trust Corp reduced its holdings in Heritage Financial Corporation by 5.0%, owning 412,199 shares worth approximately $10.03 million as of the end of the first quarter.
• Heritage Financial recently announced a quarterly dividend of $0.24 per share, which translates to an annual yield of 3.9%.
• Wall Street analysts have recently downgraded Heritage Financial's rating from "hold" to "sell," with a consensus price target of $27.67 for the stock.

Northern Trust Corp cut its holdings in Heritage Financial Corporation (NASDAQ:HFWA - Free Report) by 5.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 412,199 shares of the financial services provider's stock after selling 21,479 shares during the period. Northern Trust Corp owned about 1.21% of Heritage Financial worth $10,029,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Heritage Financial by 45.3% in the first 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 last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Heritage Financial by 519.0% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,553 shares of the financial services provider's stock valued at $87,000 after purchasing an additional 2,979 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Heritage Financial by 475.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,989 shares of the financial services provider's stock valued at $98,000 after purchasing an additional 3,296 shares during the last quarter. CWM LLC grew its stake in shares of Heritage Financial by 14.8% in the first quarter. CWM LLC now owns 4,042 shares of the financial services provider's stock valued at $98,000 after buying an additional 520 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in shares of Heritage Financial in the first quarter valued at $167,000. 78.30% of the stock is currently owned by institutional investors and hedge funds.

Heritage Financial Trading Down 0.9%

HFWA stock opened at $24.80 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.85 and a quick ratio of 0.85. The company has a fifty day moving average price of $24.13 and a two-hundred day moving average price of $23.58. Heritage Financial Corporation has a one year low of $19.84 and a one year high of $27.58. The stock has a market cap of $841.96 million, a price-to-earnings ratio of 17.34 and a beta of 0.56.

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

Heritage Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Heritage Financial from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $27.67.

Heritage Financial Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.