Rhumbline Advisers Raises Stake in Heritage Financial Corp (HFWA)

Rhumbline Advisers increased its position in shares of Heritage Financial Corp (NASDAQ:HFWA) by 162.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,899 shares of the financial services provider’s stock after acquiring an additional 47,592 shares during the quarter. Rhumbline Advisers owned about 0.23% of Heritage Financial worth $2,680,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Heritage Financial by 10.3% during the first quarter. Principal Financial Group Inc. now owns 19,486 shares of the financial services provider’s stock valued at $596,000 after acquiring an additional 1,820 shares during the period. Sei Investments Co. lifted its stake in shares of Heritage Financial by 61.5% during the second quarter. Sei Investments Co. now owns 4,919 shares of the financial services provider’s stock valued at $172,000 after acquiring an additional 1,873 shares during the period. Xact Kapitalforvaltning AB lifted its stake in shares of Heritage Financial by 27.4% during the second quarter. Xact Kapitalforvaltning AB now owns 11,623 shares of the financial services provider’s stock valued at $405,000 after acquiring an additional 2,500 shares during the period. Washington Trust Bank acquired a new position in shares of Heritage Financial during the second quarter valued at $103,000. Finally, Citigroup Inc. lifted its stake in shares of Heritage Financial by 59.6% during the first quarter. Citigroup Inc. now owns 11,385 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 4,250 shares during the period. 79.44% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on HFWA shares. BidaskClub raised Heritage Financial from a “hold” rating to a “buy” rating in a research note on Thursday, September 6th. Zacks Investment Research raised Heritage Financial from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Wednesday, June 27th. Finally, Keefe, Bruyette & Woods lowered Heritage Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 26th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Heritage Financial currently has an average rating of “Buy” and an average target price of $35.60.

NASDAQ HFWA opened at $36.85 on Tuesday. The stock has a market capitalization of $1.35 billion, a P/E ratio of 24.90, a P/E/G ratio of 2.04 and a beta of 0.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15. Heritage Financial Corp has a 12 month low of $26.05 and a 12 month high of $37.40.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.09). The company had revenue of $51.32 million during the quarter, compared to the consensus estimate of $50.90 million. Heritage Financial had a net margin of 19.36% and a return on equity of 8.54%. equities research analysts predict that Heritage Financial Corp will post 1.79 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Thursday, August 9th were issued a $0.15 dividend. The ex-dividend date was Wednesday, August 8th. This represents a $0.60 dividend on an annualized basis and a yield of 1.63%. Heritage Financial’s dividend payout ratio is presently 40.54%.

In related news, Director Brian L. Vance sold 6,734 shares of the company’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $36.29, for a total value of $244,376.86. Following the completion of the sale, the director now owns 133,313 shares in the company, valued at $4,837,928.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Clees sold 1,000 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $36.26, for a total value of $36,260.00. Following the completion of the sale, the director now owns 45,209 shares of the company’s stock, valued at approximately $1,639,278.34. The disclosure for this sale can be found here. Insiders sold 9,665 shares of company stock valued at $350,697 in the last quarter. 1.80% of the stock is currently owned by corporate insiders.

Heritage Financial Company Profile

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to businesses and individuals in the United States. The company accepts various deposit products, such as noninterest demand accounts, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.

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Institutional Ownership by Quarter for Heritage Financial (NASDAQ:HFWA)

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