Heritage Financial Co. (NASDAQ:HFWA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Heritage Financial Co. (NASDAQ:HFWA) by 10.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 896,309 shares of the financial services provider’s stock after selling 106,721 shares during the period. Bank of New York Mellon Corp’s holdings in Heritage Financial were worth $16,160,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in Heritage Financial by 133.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,374 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 786 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Heritage Financial by 72.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,394 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 1,428 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Heritage Financial by 5.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,784 shares of the financial services provider’s stock valued at $578,000 after buying an additional 1,471 shares during the period. Kiley Juergens Wealth Management LLC grew its stake in shares of Heritage Financial by 0.7% during the 1st quarter. Kiley Juergens Wealth Management LLC now owns 239,596 shares of the financial services provider’s stock valued at $4,646,000 after buying an additional 1,741 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Heritage Financial by 60.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,919 shares of the financial services provider’s stock valued at $341,000 after buying an additional 6,010 shares during the period. 78.30% of the stock is currently owned by institutional investors and hedge funds.

Heritage Financial Stock Down 2.1 %

Shares of Heritage Financial stock opened at $21.71 on Friday. The company has a fifty day moving average price of $21.14 and a 200 day moving average price of $19.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.61. Heritage Financial Co. has a twelve month low of $15.50 and a twelve month high of $23.82. The stock has a market cap of $753.12 million, a price-to-earnings ratio of 16.32 and a beta of 0.53.

Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. Heritage Financial had a net margin of 14.59% and a return on equity of 7.95%. The firm had revenue of $56.36 million during the quarter, compared to analysts’ expectations of $58.27 million. Equities research analysts forecast that Heritage Financial Co. will post 1.66 earnings per share for the current fiscal year.

Heritage Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.92 dividend on an annualized basis and a yield of 4.24%. Heritage Financial’s dividend payout ratio (DPR) is 69.17%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Heritage Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Piper Sandler boosted their price objective on shares of Heritage Financial from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $23.50.

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.