Heritage Financial Corporation (NASDAQ:HFWA) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in Heritage Financial Corporation (NASDAQ:HFWA - Free Report) by 15,727.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,480,997 shares of the financial services provider's stock after purchasing an additional 1,471,640 shares during the quarter. Victory Capital Management Inc. owned about 4.36% of Heritage Financial worth $36,033,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC boosted 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 valued at $98,000 after acquiring an additional 520 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Heritage Financial by 2.2% in the first quarter. Principal Financial Group Inc. now owns 193,820 shares of the financial services provider's stock valued at $4,716,000 after acquiring an additional 4,101 shares during the last quarter. Keybank National Association OH grew its position in Heritage Financial by 17.7% in the first quarter. Keybank National Association OH now owns 58,674 shares of the financial services provider's stock worth $1,428,000 after acquiring an additional 8,833 shares during the period. Diversified Trust Co purchased a new stake in Heritage Financial in the first quarter valued at $214,000. Finally, Brighton Jones LLC grew its holdings 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 period. Hedge funds and other institutional investors own 78.30% of the company's stock.

Heritage Financial Stock Down 6.9%

HFWA stock traded down $1.71 during midday trading on Thursday, hitting $23.25. The company's stock had a trading volume of 255,963 shares, compared to its average volume of 142,668. The firm has a 50-day simple moving average of $23.98 and a 200-day simple moving average of $23.83. The firm has a market capitalization of $793.06 million, a P/E ratio of 15.71 and a beta of 0.54. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.33. Heritage Financial Corporation has a 52-week low of $19.84 and a 52-week high of $27.58.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. Heritage Financial had a return on equity of 7.12% and a net margin of 15.73%. The business had revenue of $57.59 million during the quarter, compared to analysts' expectations of $61.74 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, August 6th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.13%. Heritage Financial's dividend payout ratio (DPR) is presently 64.86%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HFWA. Keefe, Bruyette & Woods lowered their target price on shares of Heritage Financial from $27.00 to $26.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Piper Sandler lowered their price target on Heritage Financial from $34.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, April 28th.

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.