Cubist Systematic Strategies LLC Acquires New Position in Heritage Financial Co. (NASDAQ:HFWA)

Cubist Systematic Strategies LLC acquired a new stake in shares of Heritage Financial Co. (NASDAQ:HFWA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 52,769 shares of the financial services provider’s stock, valued at approximately $951,000. Cubist Systematic Strategies LLC owned approximately 0.15% of Heritage Financial as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HFWA. Jennison Associates LLC purchased a new stake in Heritage Financial during the 1st quarter valued at $14,612,000. Hsbc Holdings PLC boosted its position in shares of Heritage Financial by 899.6% during the fourth quarter. Hsbc Holdings PLC now owns 182,650 shares of the financial services provider’s stock valued at $3,927,000 after buying an additional 164,377 shares during the last quarter. US Bancorp DE increased its holdings in Heritage Financial by 212.4% in the 1st quarter. US Bancorp DE now owns 206,776 shares of the financial services provider’s stock worth $4,009,000 after buying an additional 140,592 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Heritage Financial by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,934,852 shares of the financial services provider’s stock worth $34,884,000 after buying an additional 80,044 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in Heritage Financial during the 4th quarter valued at about $1,602,000. Institutional investors own 78.30% of the company’s stock.

Heritage Financial Stock Up 0.0 %

Shares of HFWA stock opened at $20.78 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.61. Heritage Financial Co. has a 12 month low of $15.50 and a 12 month high of $23.82. The stock has a market cap of $720.86 million, a P/E ratio of 15.62 and a beta of 0.53. The company has a 50 day simple moving average of $21.99 and a two-hundred day simple moving average of $19.56.

Heritage Financial (NASDAQ:HFWA) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. Heritage Financial had a return on equity of 7.95% and a net margin of 14.59%. The company had revenue of $56.36 million for the quarter, compared to analysts’ expectations of $58.27 million. On average, research analysts expect that Heritage Financial Co. will post 1.66 earnings per share for the current year.

Heritage Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.43%. Heritage Financial’s dividend payout ratio (DPR) is presently 69.17%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Heritage Financial from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Piper Sandler increased their price target on Heritage Financial from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Heritage Financial has a consensus rating of “Hold” and an average price target of $23.50.

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.