The Manufacturers Life Insurance Company lowered its holdings in shares of Heritage Financial Corp (NASDAQ:HFWA) by 3.5% in the 1st quarter, Holdings Channel reports. The firm owned 715,534 shares of the financial services provider’s stock after selling 25,619 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Heritage Financial were worth $21,566,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mason Street Advisors LLC grew its stake in shares of Heritage Financial by 3.4% during the 1st quarter. Mason Street Advisors LLC now owns 10,660 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 354 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Heritage Financial by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 23,113 shares of the financial services provider’s stock valued at $687,000 after acquiring an additional 508 shares during the period. Piedmont Investment Advisors Inc. grew its stake in shares of Heritage Financial by 6.6% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 8,482 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 526 shares during the period. Comerica Bank grew its stake in shares of Heritage Financial by 0.5% during the 1st quarter. Comerica Bank now owns 114,699 shares of the financial services provider’s stock valued at $3,537,000 after acquiring an additional 591 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Heritage Financial by 6.8% during the 4th quarter. Bank of Montreal Can now owns 9,515 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 608 shares during the period. 81.44% of the stock is owned by hedge funds and other institutional investors.

In other Heritage Financial news, Director Brian L. Vance sold 3,885 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $30.74, for a total value of $119,424.90. Following the completion of the transaction, the director now directly owns 101,011 shares in the company, valued at approximately $3,105,078.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lisa Banner sold 976 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $29.25, for a total value of $28,548.00. Following the completion of the transaction, the director now owns 731 shares of the company’s stock, valued at $21,381.75. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

HFWA stock opened at $29.36 on Friday. Heritage Financial Corp has a 1-year low of $27.81 and a 1-year high of $37.40. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 2.11 and a beta of 0.74.

Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.04). Heritage Financial had a return on equity of 8.77% and a net margin of 25.04%. The business had revenue of $57.22 million during the quarter, compared to the consensus estimate of $59.73 million. On average, sell-side analysts expect that Heritage Financial Corp will post 1.99 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.72 annualized dividend and a yield of 2.45%. Heritage Financial’s payout ratio is 40.91%.

A number of brokerages recently issued reports on HFWA. BidaskClub downgraded Heritage Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Zacks Investment Research upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. Sandler O’Neill downgraded Heritage Financial from a “buy” rating to a “hold” rating and cut their price objective for the company from $34.00 to $32.00 in a research note on Friday, April 26th. Finally, Stephens reiterated a “hold” rating and set a $36.00 price objective on shares of Heritage Financial in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $34.00.

TRADEMARK VIOLATION WARNING: “The Manufacturers Life Insurance Company Trims Stake in Heritage Financial Corp (NASDAQ:HFWA)” was reported by Daily Political and is owned by of Daily Political. If you are reading this article on another domain, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this article can be read at https://www.dailypolitical.com/2019/06/15/the-manufacturers-life-insurance-company-trims-stake-in-heritage-financial-corp-nasdaqhfwa.html.

Heritage Financial Company Profile

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to businesses and individuals in the United States. The company accepts various deposit products, such as noninterest demand accounts, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.

Recommended Story: How interest rates affect municipal bond prices

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 Corp (NASDAQ:HFWA).

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

Receive News & Ratings for Heritage Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heritage Financial and related companies with MarketBeat.com's FREE daily email newsletter.