Heritage Financial Co. (NASDAQ:HFWA) Stock Position Cut by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its stake in Heritage Financial Co. (NASDAQ:HFWA) by 5.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,881 shares of the financial services provider’s stock after selling 1,230 shares during the period. Illinois Municipal Retirement Fund owned 0.06% of Heritage Financial worth $425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aigen Investment Management LP bought a new position in shares of Heritage Financial during the 3rd quarter valued at about $206,000. Charles Schwab Investment Management Inc. boosted its position in shares of Heritage Financial by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 982,685 shares of the financial services provider’s stock valued at $16,028,000 after purchasing an additional 45,052 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Heritage Financial by 7.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 928,004 shares of the financial services provider’s stock valued at $15,136,000 after purchasing an additional 65,662 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Heritage Financial by 34.7% during the 3rd quarter. Schroder Investment Management Group now owns 535,820 shares of the financial services provider’s stock valued at $8,739,000 after purchasing an additional 137,915 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Heritage Financial by 6.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,697 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 1,092 shares in the last quarter. Institutional investors own 78.30% of the company’s stock.

Heritage Financial Price Performance

NASDAQ HFWA opened at $18.26 on Thursday. The company has a 50 day simple moving average of $18.34 and a 200-day simple moving average of $18.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.78. The firm has a market capitalization of $632.80 million, a price-to-earnings ratio of 13.73 and a beta of 0.54. Heritage Financial Co. has a 52-week low of $14.85 and a 52-week high of $22.55.

Heritage Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend is Tuesday, May 7th. Heritage Financial’s dividend payout ratio (DPR) is 69.17%.

Analyst Ratings Changes

Several research firms have recently weighed in on HFWA. StockNews.com upgraded shares of Heritage Financial from a “sell” rating to a “hold” rating in a research report 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 note on Wednesday, March 13th. DA Davidson reduced their price objective on shares of Heritage Financial from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Heritage Financial from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Heritage Financial currently has a consensus rating of “Hold” and a consensus price target of $22.25.

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.