Allspring Global Investments Holdings LLC Sells 4,217 Shares of Heritage Financial Co. (NASDAQ:HFWA)

Allspring Global Investments Holdings LLC lessened its stake in shares of Heritage Financial Co. (NASDAQ:HFWA) by 3.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 128,587 shares of the financial services provider’s stock after selling 4,217 shares during the period. Allspring Global Investments Holdings LLC owned about 0.37% of Heritage Financial worth $2,493,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Heritage Financial by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,733,722 shares of the financial services provider’s stock worth $37,085,000 after buying an additional 92,319 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Heritage Financial by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,008,656 shares of the financial services provider’s stock worth $21,575,000 after buying an additional 25,971 shares in the last quarter. Schroder Investment Management Group raised its stake in Heritage Financial by 34.7% in the third quarter. Schroder Investment Management Group now owns 535,820 shares of the financial services provider’s stock worth $8,739,000 after buying an additional 137,915 shares in the last quarter. AQR Capital Management LLC raised its stake in Heritage Financial by 1,585.8% in the third quarter. AQR Capital Management LLC now owns 287,402 shares of the financial services provider’s stock worth $4,688,000 after buying an additional 270,354 shares in the last quarter. Finally, Great Lakes Advisors LLC raised its stake in Heritage Financial by 16.5% in the fourth quarter. Great Lakes Advisors LLC now owns 211,628 shares of the financial services provider’s stock worth $4,527,000 after buying an additional 30,025 shares in the last quarter. Institutional investors own 78.30% of the company’s stock.

Analysts Set New Price Targets

HFWA has been the subject of a number of recent research reports. Stephens reissued an “equal weight” rating and issued a $22.00 price objective on shares of Heritage Financial in a research note on Wednesday, March 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.75.

Heritage Financial Stock Performance

Shares of HFWA stock opened at $17.88 on Wednesday. The business’s fifty day simple moving average is $17.93 and its 200-day simple moving average is $18.81. The company has a market cap of $620.26 million, a PE ratio of 13.44 and a beta of 0.54. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. Heritage Financial Co. has a 12-month low of $15.50 and a 12-month high of $22.55.

Heritage Financial (NASDAQ:HFWA) 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 business had revenue of $48.63 million for the quarter, compared to analyst estimates of $59.87 million. Heritage Financial had a return on equity of 8.18% and a net margin of 15.70%. Analysts expect that Heritage Financial Co. will post 1.62 earnings per share for the current fiscal year.

Heritage Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend was Tuesday, May 7th. Heritage Financial’s dividend payout ratio (DPR) is presently 69.17%.

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.