Thrivent Financial for Lutherans Has $2.46 Million Stock Holdings in Heritage Financial Co. (NASDAQ:HFWA)

Thrivent Financial for Lutherans trimmed its position in Heritage Financial Co. (NASDAQ:HFWA) by 8.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,180 shares of the financial services provider’s stock after selling 13,132 shares during the period. Thrivent Financial for Lutherans’ holdings in Heritage Financial were worth $2,455,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Heritage Financial by 133.7% during the second quarter. GAMMA Investing LLC now owns 1,374 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 786 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Heritage Financial by 72.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,394 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 1,428 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Heritage Financial by 5.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,784 shares of the financial services provider’s stock valued at $578,000 after purchasing an additional 1,471 shares in the last quarter. Innealta Capital LLC acquired a new position in Heritage Financial during the second quarter worth $27,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Heritage Financial in the second quarter valued at $31,000. 78.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Heritage Financial Stock Performance

NASDAQ HFWA opened at $21.77 on Tuesday. The company has a fifty day moving average price of $22.01 and a 200-day moving average price of $19.55. The firm has a market cap of $755.20 million, a price-to-earnings ratio of 16.37 and a beta of 0.53. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.81 and a quick ratio of 0.81. Heritage Financial Co. has a 1 year low of $15.50 and a 1 year high of $23.82.

Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. Heritage Financial had a net margin of 14.59% and a return on equity of 7.95%. The business had revenue of $56.36 million during the quarter, compared to the consensus estimate of $58.27 million. As a group, equities research analysts predict that Heritage Financial Co. will post 1.66 EPS for the current fiscal year.

Heritage Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Wednesday, August 7th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.92 dividend on an annualized basis and a yield of 4.23%. Heritage Financial’s dividend payout ratio (DPR) is currently 69.17%.

Heritage Financial Company 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.