Quest Partners LLC Buys New Stake in Heritage Financial Co. (NASDAQ:HFWA)

Quest Partners LLC bought a new stake in Heritage Financial Co. (NASDAQ:HFWA) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 18,032 shares of the financial services provider’s stock, valued at approximately $325,000. Quest Partners LLC owned about 0.05% of Heritage Financial at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of HFWA. GAMMA Investing LLC grew its position in shares of 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 buying an additional 786 shares during the last quarter. Innealta Capital LLC acquired a new stake in Heritage Financial during the 2nd quarter worth $27,000. PNC Financial Services Group Inc. boosted its stake in Heritage Financial by 72.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,394 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 1,428 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in Heritage Financial during the 1st quarter worth $216,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in 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 worth $341,000 after purchasing an additional 6,010 shares during the period. 78.30% of the stock is owned by hedge funds and other institutional investors.

Heritage Financial Stock Up 1.6 %

Shares of NASDAQ HFWA opened at $21.72 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.61. Heritage Financial Co. has a 52 week low of $15.50 and a 52 week high of $23.82. The firm has a 50-day moving average price of $21.54 and a 200 day moving average price of $19.30. The stock has a market capitalization of $749.34 million, a price-to-earnings ratio of 16.33 and a beta of 0.53.

Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate 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 anticipate that Heritage Financial Co. will post 1.66 EPS for the current fiscal year.

Heritage Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

HFWA has been the subject of a number of recent research reports. Keefe, Bruyette & Woods increased their price target on shares of Heritage Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Piper Sandler raised their target price on shares of Heritage Financial from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.50.

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.