25,200 Shares in Heritage Financial Corporation $HFWA Acquired by Strs Ohio

Key Points

• Strs Ohio acquired a new stake in Heritage Financial Corporation, purchasing 25,200 shares valued at approximately $613,000.
• Heritage Financial reported $0.53 EPS for the quarter, beating analysts' estimates, but revenue fell short at $56.5 million compared to expectations of $63.54 million.
• The company declared a quarterly dividend of $0.24 per share, representing a 3.9% annual yield, with a dividend payout ratio of 67.13%.

Strs Ohio acquired a new position in shares of Heritage Financial Corporation (NASDAQ:HFWA - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 25,200 shares of the financial services provider's stock, valued at approximately $613,000. Strs Ohio owned about 0.07% of Heritage Financial at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CWM LLC increased its position 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 purchasing an additional 520 shares during the last quarter. Brighton Jones LLC increased its position in shares of 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 purchasing an additional 567 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Heritage Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,060 shares of the financial services provider's stock worth $488,000 after purchasing an additional 881 shares during the last quarter. Ieq Capital LLC increased its position in shares of Heritage Financial by 8.3% during the 1st quarter. Ieq Capital LLC now owns 12,115 shares of the financial services provider's stock worth $295,000 after purchasing an additional 925 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Heritage Financial by 45.3% during the 1st quarter. GAMMA Investing LLC now owns 2,972 shares of the financial services provider's stock worth $72,000 after purchasing an additional 927 shares during the last quarter. 78.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Heritage Financial from a "hold" rating to a "sell" rating in a research report 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $27.67.

Heritage Financial Stock Down 0.2%

Shares of Heritage Financial stock traded down $0.06 on Tuesday, reaching $24.52. 30,672 shares of the company were exchanged, compared to its average volume of 214,869. Heritage Financial Corporation has a 1-year low of $19.84 and a 1-year high of $27.58. The company has a market cap of $832.49 million, a P/E ratio of 17.22 and a beta of 0.56. 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 stock's 50 day moving average price is $23.98 and its 200-day moving average price is $23.59.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last announced 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 return on equity of 7.34% and a net margin of 15.22%.The business had revenue of $56.50 million during the quarter, compared to the consensus estimate of $63.54 million. As a group, equities analysts forecast that Heritage Financial Corporation will post 2.09 EPS for the current 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 paid a dividend of $0.24 per share. The ex-dividend date was Wednesday, August 6th. This represents a $0.96 annualized dividend and a yield of 3.9%. Heritage Financial's payout ratio is presently 67.13%.

Heritage Financial 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.