Assenagon Asset Management S.A. Trims Stock Holdings in Heritage Financial Corporation (NASDAQ:HFWA)

Assenagon Asset Management S.A. trimmed its position in shares of Heritage Financial Corporation (NASDAQ:HFWA - Free Report) by 79.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,083 shares of the financial services provider's stock after selling 83,928 shares during the quarter. Assenagon Asset Management S.A. owned 0.06% of Heritage Financial worth $513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of HFWA. Proficio Capital Partners LLC bought a new stake in Heritage Financial during the fourth quarter valued at about $280,000. Bank of America Corp DE grew its stake in shares of Heritage Financial by 45.5% during the 4th quarter. Bank of America Corp DE now owns 147,887 shares of the financial services provider's stock valued at $3,623,000 after acquiring an additional 46,260 shares during the period. Deutsche Bank AG grew its stake in shares of Heritage Financial by 60.1% during the 4th quarter. Deutsche Bank AG now owns 29,871 shares of the financial services provider's stock valued at $732,000 after acquiring an additional 11,210 shares during the period. Ieq Capital LLC purchased a new stake in Heritage Financial in the 4th quarter worth approximately $274,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Heritage Financial by 41.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,713 shares of the financial services provider's stock worth $1,781,000 after acquiring an additional 21,375 shares during the period. Institutional investors own 78.30% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HFWA shares. Keefe, Bruyette & Woods cut their price objective on Heritage Financial from $27.00 to $26.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Piper Sandler reduced their price objective on Heritage Financial from $34.00 to $31.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th.

Heritage Financial Stock Performance

Heritage Financial stock traded up $0.80 during mid-day trading on Monday, reaching $23.37. 155,597 shares of the company traded hands, compared to its average volume of 215,004. The firm's fifty day moving average is $23.11 and its two-hundred day moving average is $23.82. The company has a market capitalization of $797.15 million, a price-to-earnings ratio of 15.79 and a beta of 0.55. Heritage Financial Corporation has a fifty-two week low of $16.70 and a fifty-two week high of $27.58. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.84 and a quick ratio of 0.84.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. Heritage Financial had a return on equity of 7.12% and a net margin of 15.73%. The firm had revenue of $57.59 million for the quarter, compared to analyst estimates of $61.74 million. On average, equities research analysts expect that Heritage Financial Corporation will post 2.09 earnings per share for the current fiscal year.

Heritage Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Wednesday, May 7th. Heritage Financial's dividend payout ratio is currently 64.86%.

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.