102,381 Shares in Heritage Financial Corporation $HFWA Acquired by Nuveen LLC

Key Points

• Nuveen LLC has invested approximately $2.49 million in Heritage Financial Corporation by purchasing 102,381 shares, representing about 0.30% of the company's stock.
• Heritage Financial recently declared a $0.24 quarterly dividend, amounting to an annualized yield of 3.9% and a payout ratio of 67.13%.
• The company's most recent quarterly earnings showed a net margin of 15.22% and a return on equity of 7.34%, with earnings per share beating estimates.

Nuveen LLC purchased a new position in shares of Heritage Financial Corporation (NASDAQ:HFWA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 102,381 shares of the financial services provider's stock, valued at approximately $2,491,000. Nuveen LLC owned about 0.30% of Heritage Financial at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in 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 acquiring an additional 927 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Heritage Financial by 519.0% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,553 shares of the financial services provider's stock worth $87,000 after acquiring an additional 2,979 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Heritage Financial by 475.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,989 shares of the financial services provider's stock worth $98,000 after acquiring an additional 3,296 shares in the last quarter. CWM LLC boosted its stake in shares of Heritage Financial by 14.8% during 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, Zions Bancorporation National Association UT purchased a new stake in shares of Heritage Financial during the 1st quarter worth approximately $167,000. 78.30% of the stock is owned by hedge funds and other institutional investors.

Heritage Financial Stock Up 0.7%

Shares of HFWA stock traded up $0.18 during trading hours on Thursday, hitting $24.47. 29,788 shares of the company were exchanged, compared to its average volume of 213,390. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.85. Heritage Financial Corporation has a one year low of $19.84 and a one year high of $27.58. The business's 50-day simple moving average is $24.08 and its two-hundred day simple moving average is $23.57. The stock has a market capitalization of $830.80 million, a price-to-earnings ratio of 17.11 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 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $63.54 million. Sell-side analysts predict that Heritage Financial Corporation will post 2.09 EPS for the current fiscal year.

Heritage Financial Dividend Announcement

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. This represents a $0.96 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Wednesday, August 6th. Heritage Financial's dividend payout ratio (DPR) is presently 67.13%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Heritage Financial from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus 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.