Heritage Financial Co. (NASDAQ:HFWA) Stake Cut by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its position in shares of Heritage Financial Co. (NASDAQ:HFWAGet Rating) by 13.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,688 shares of the financial services provider’s stock after selling 14,927 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.28% of Heritage Financial worth $2,448,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HFWA. Russell Investments Group Ltd. lifted its stake in Heritage Financial by 3.0% during the fourth quarter. Russell Investments Group Ltd. now owns 19,907 shares of the financial services provider’s stock worth $485,000 after purchasing an additional 577 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Heritage Financial in the fourth quarter valued at $6,515,000. Yousif Capital Management LLC bought a new stake in Heritage Financial in the fourth quarter valued at $809,000. Royce & Associates LP bought a new stake in Heritage Financial in the fourth quarter valued at $590,000. Finally, Victory Capital Management Inc. lifted its stake in Heritage Financial by 8.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,033,479 shares of the financial services provider’s stock valued at $25,259,000 after buying an additional 82,664 shares during the last quarter. 77.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson upgraded Heritage Financial from a “neutral” rating to a “buy” rating in a research note on Monday, July 25th.

Insider Activity at Heritage Financial

In related news, Director Brian L. Vance sold 5,470 shares of Heritage Financial stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $25.83, for a total transaction of $141,290.10. Following the sale, the director now directly owns 97,513 shares in the company, valued at $2,518,760.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Heritage Financial Stock Performance

HFWA stock opened at $25.55 on Wednesday. Heritage Financial Co. has a 1 year low of $20.95 and a 1 year high of $27.45. The stock’s fifty day moving average is $25.46 and its two-hundred day moving average is $25.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $896.81 million, a price-to-earnings ratio of 11.56 and a beta of 0.61.

Heritage Financial (NASDAQ:HFWAGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. Heritage Financial had a net margin of 33.11% and a return on equity of 9.41%. During the same quarter in the previous year, the company earned $0.90 EPS. On average, research analysts predict that Heritage Financial Co. will post 2.11 EPS for the current year.

Heritage Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 17th. Investors of record on Wednesday, August 3rd will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Tuesday, August 2nd. Heritage Financial’s dividend payout ratio is currently 38.01%.

Heritage Financial Profile

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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. The company 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.

See Also

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

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