American International Group Inc. Cuts Stock Holdings in Heritage Financial Corp (NASDAQ:HFWA)

American International Group Inc. lessened its stake in Heritage Financial Corp (NASDAQ:HFWA) by 2.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 27,227 shares of the financial services provider’s stock after selling 751 shares during the period. American International Group Inc. owned about 0.07% of Heritage Financial worth $821,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quantamental Technologies LLC acquired a new position in shares of Heritage Financial in the fourth quarter worth $30,000. PNC Financial Services Group Inc. grew its stake in shares of Heritage Financial by 601.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,228 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 1,053 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Heritage Financial during the fourth quarter worth $206,000. BNP Paribas Arbitrage SA grew its stake in shares of Heritage Financial by 69,063.6% during the first quarter. BNP Paribas Arbitrage SA now owns 7,608 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 7,597 shares in the last quarter. Finally, United Services Automobile Association grew its stake in shares of Heritage Financial by 14.2% during the fourth quarter. United Services Automobile Association now owns 9,481 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 1,181 shares in the last quarter. Institutional investors and hedge funds own 81.34% of the company’s stock.

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

HFWA has been the subject of a number of research reports. Zacks Investment Research cut shares of Heritage Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Stephens assumed coverage on shares of Heritage Financial in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $36.00 target price for the company. BidaskClub upgraded shares of Heritage Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 4th. Finally, Sandler O’Neill lowered shares of Heritage Financial from a “buy” rating to a “hold” rating and lowered their price target for the company from $34.00 to $32.00 in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $34.00.

Shares of HFWA traded up $0.43 during trading hours on Monday, hitting $29.97. The stock had a trading volume of 143,500 shares, compared to its average volume of 119,634. The company’s fifty day moving average price is $29.52. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.84 and a quick ratio of 0.84. Heritage Financial Corp has a 52 week low of $27.81 and a 52 week high of $37.40. The stock has a market capitalization of $1.09 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 2.12 and a beta of 0.73.

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

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.

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

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