Heritage Financial Corporation (HFWA)

Panagora Asset Management Inc. Boosts Stock Position in Heritage Financial Co. (NASDAQ:HFWA)

Panagora Asset Management Inc. increased its stake in shares of Heritage Financial Co. (NASDAQ:HFWA – Free Report) by 72.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 133,523 shares of the financial services provider’s stock after buying an additional 56,036 shares during the quarter. Panagora Asset Management Inc. owned about 0.38% of Heritage Financial worth $2,856,000 at the end of the most recent reporting period. Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale purchased a new position in shares of Heritage Financial during the 4th quarter worth $81,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Heritage Financial in the 3rd quarter valued at approximately $184,000. Aigen Investment Management LP acquired a new stake in shares of Heritage Financial during the 3rd quarter worth approximately $206,000. Arizona State Retirement System purchased a new stake in shares of Heritage Financial during the 4th quarter valued at approximately $210,000. Finally, Hsbc Holdings PLC lifted its holdings in Heritage Financial by 50.1% in the third quarter. Hsbc Holdings PLC now owns 18,273 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 6,096 shares during the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock. Heritage Financial Trading Up 1.0 % Shares of HFWA stock opened at $19.08 on Monday. Heritage Financial Co. has a fifty-two week low of $15.50 and a fifty-two week high of $22.55. The company has a 50 day moving average price of $18.37 and a 200 day moving average price of $18.98. The stock has a market capitalization of $661.89 million, a P/E ratio of 14.35 and a beta of 0.56. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. Heritage Financial (NASDAQ:HFWA – Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The firm had revenue of $48.63 million during the quarter, compared to analysts’ expectations of $59.87 million. Heritage Financial had a return on equity of 8.18% and a net margin of 15.70%. Equities research analysts predict that Heritage Financial Co. will post 1.59 EPS for the current fiscal year. Heritage Financial Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Tuesday, May 7th. Heritage Financial’s dividend payout ratio (DPR) is 69.17%. Wall Street Analyst Weigh In HFWA has been the topic of several recent analyst reports. Keefe, Bruyette & Woods decreased their price target on Heritage Financial from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Friday, January 26th. StockNews.com raised shares of Heritage Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 26th. Stephens reaffirmed an “equal weight” rating and set a $22.00 price objective on shares of Heritage Financial in a research report on Wednesday, March 13th. Finally, DA Davidson cut their target price on Heritage Financial from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.25. Get Our Latest Stock Report on HFWA About Heritage Financial (Free Report) 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.