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

Assenagon Asset Management S.A. lowered its stake in shares of Heritage Financial Corporation (NASDAQ:HFWA - Free Report) by 79.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Heritage Financial by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,068,354 shares of the financial services provider's stock worth $50,674,000 after buying an additional 33,429 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Heritage Financial by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,249,905 shares of the financial services provider's stock worth $30,623,000 after acquiring an additional 8,731 shares during the period. Northern Trust Corp boosted its stake in Heritage Financial by 1.5% in the fourth quarter. Northern Trust Corp now owns 433,678 shares of the financial services provider's stock valued at $10,625,000 after acquiring an additional 6,201 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Heritage Financial by 12.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 433,296 shares of the financial services provider's stock valued at $10,616,000 after acquiring an additional 46,769 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Heritage Financial by 112.5% during the 4th quarter. Invesco Ltd. now owns 369,429 shares of the financial services provider's stock valued at $9,051,000 after acquiring an additional 195,541 shares during the period. Institutional investors own 78.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on HFWA shares. Keefe, Bruyette & Woods dropped their price objective on Heritage Financial from $27.00 to $26.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Piper Sandler dropped their price target on Heritage Financial from $34.00 to $31.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th.

Heritage Financial Trading Up 0.1%

Shares of NASDAQ:HFWA traded up $0.02 during trading on Friday, reaching $22.57. 273,088 shares of the company traded hands, compared to its average volume of 216,240. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.33. Heritage Financial Corporation has a 52-week low of $16.69 and a 52-week high of $27.58. The firm has a market capitalization of $769.86 million, a price-to-earnings ratio of 15.25 and a beta of 0.55. The business's fifty day moving average is $23.03 and its 200-day moving average is $23.90.

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

Heritage Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 7th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Wednesday, May 7th. Heritage Financial's dividend payout ratio is 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.