Hennion & Walsh Asset Management Inc. Acquires New Stake in Heritage Financial Co. (NASDAQ:HFWA)

Hennion & Walsh Asset Management Inc. purchased a new position in shares of Heritage Financial Co. (NASDAQ:HFWAFree Report) during the first quarter, Holdings Channel reports. The firm purchased 11,123 shares of the financial services provider’s stock, valued at approximately $216,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in Heritage Financial by 72.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,394 shares of the financial services provider’s stock worth $73,000 after buying an additional 1,428 shares during the last quarter. Wellington Management Group LLP purchased a new position in Heritage Financial during the 4th quarter worth approximately $1,602,000. Penn Capital Management Company LLC purchased a new position in Heritage Financial during the 4th quarter worth approximately $670,000. Pacific Ridge Capital Partners LLC grew its stake in shares of Heritage Financial by 27.7% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 60,628 shares of the financial services provider’s stock valued at $1,297,000 after purchasing an additional 13,165 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Heritage Financial by 899.6% in the 4th quarter. Hsbc Holdings PLC now owns 182,650 shares of the financial services provider’s stock valued at $3,927,000 after purchasing an additional 164,377 shares during the last quarter. Hedge funds and other institutional investors own 78.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $20.00 target price on shares of Heritage Financial in a research note on Wednesday, June 26th. Stephens reiterated an “equal weight” rating and issued a $22.00 target price on shares of Heritage Financial in a research note on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Heritage Financial currently has a consensus rating of “Hold” and an average target price of $21.75.

Read Our Latest Stock Analysis on HFWA

Heritage Financial Stock Down 1.8 %

HFWA opened at $17.55 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50 day simple moving average of $17.90 and a 200-day simple moving average of $18.79. The stock has a market capitalization of $608.81 million, a P/E ratio of 13.20 and a beta of 0.54. Heritage Financial Co. has a 12 month low of $15.50 and a 12 month high of $22.55.

Heritage Financial (NASDAQ:HFWAGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). The business had revenue of $48.63 million during the quarter, compared to analyst estimates of $59.87 million. Heritage Financial had a net margin of 15.70% and a return on equity of 8.18%. On average, equities analysts anticipate that Heritage Financial Co. will post 1.62 earnings per share for the current fiscal year.

Heritage Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.92 annualized dividend and a yield of 5.24%. Heritage Financial’s dividend payout ratio is presently 69.17%.

Heritage Financial Profile

(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.

See Also

Want to see what other hedge funds are holding HFWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Heritage Financial Co. (NASDAQ:HFWAFree Report).

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

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