Heritage Financial Co. (NASDAQ:HFWA) Shares Sold by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC lessened its stake in shares of Heritage Financial Co. (NASDAQ:HFWA) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,722 shares of the financial services provider’s stock after selling 3,906 shares during the quarter. Pacific Ridge Capital Partners LLC’s holdings in Heritage Financial were worth $1,100,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in Heritage Financial by 5.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,644 shares of the financial services provider’s stock worth $420,000 after buying an additional 947 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Heritage Financial by 72.6% in the fourth 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. Kiley Juergens Wealth Management LLC grew its position in Heritage Financial by 0.7% in the first quarter. Kiley Juergens Wealth Management LLC now owns 239,596 shares of the financial services provider’s stock worth $4,646,000 after buying an additional 1,741 shares during the last quarter. Ziegler Capital Management LLC grew its position in Heritage Financial by 9.1% in the fourth quarter. Ziegler Capital Management LLC now owns 35,566 shares of the financial services provider’s stock worth $761,000 after buying an additional 2,962 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Heritage Financial in the fourth quarter worth approximately $81,000. Institutional investors and hedge funds own 78.30% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $20.00 price target on shares of Heritage Financial in a research report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $21.75.

Heritage Financial Trading Down 0.3 %

NASDAQ HFWA traded down $0.06 on Friday, hitting $21.02. 187,214 shares of the stock were exchanged, compared to its average volume of 185,462. Heritage Financial Co. has a 52-week low of $15.50 and a 52-week high of $22.55. 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 company has a market capitalization of $729.18 million, a price-to-earnings ratio of 15.80 and a beta of 0.54. The company’s 50-day moving average price is $18.08 and its two-hundred day moving average price is $18.62.

Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.01). Heritage Financial had a return on equity of 8.18% and a net margin of 15.70%. The firm had revenue of $48.63 million for the quarter, compared to analysts’ expectations of $59.87 million. Research analysts predict that Heritage Financial Co. will post 1.62 EPS for the current year.

Heritage Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend was Tuesday, May 7th. Heritage Financial’s payout ratio is 69.17%.

About Heritage Financial

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.