Amalgamated Bank Sells 1,065 Shares of Heritage Financial Co. (NASDAQ:HFWA)

Amalgamated Bank decreased its stake in Heritage Financial Co. (NASDAQ:HFWA) by 9.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,271 shares of the financial services provider’s stock after selling 1,065 shares during the period. Amalgamated Bank’s holdings in Heritage Financial were worth $185,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HFWA. GAMMA Investing LLC lifted its stake 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 purchasing an additional 786 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Heritage Financial during the second quarter valued at $27,000. Meeder Asset Management Inc. bought a new position in shares of Heritage Financial during the second quarter valued at $31,000. PNC Financial Services Group Inc. raised its stake in shares of Heritage Financial by 72.6% during the fourth 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. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Heritage Financial during the first quarter valued at $216,000. Institutional investors own 78.30% of the company’s stock.

Heritage Financial Trading Up 1.9 %

HFWA opened at $21.77 on Tuesday. Heritage Financial Co. has a twelve month low of $15.50 and a twelve month high of $23.82. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average of $22.01 and a 200-day moving average of $19.55. The stock has a market cap of $755.20 million, a PE ratio of 16.37 and a beta of 0.53.

Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.45 earnings per share for the quarter, topping 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 company had revenue of $56.36 million during the quarter, compared to analysts’ expectations of $58.27 million. On average, sell-side analysts predict that Heritage Financial Co. will post 1.66 EPS for the current year.

Heritage Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Wednesday, August 7th. Heritage Financial’s payout ratio is 69.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Piper Sandler raised their price target 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. Keefe, Bruyette & Woods raised their price target 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus 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.