Jennison Associates LLC Has $83.55 Million Holdings in Heritage Financial Corporation $HFWA

Jennison Associates LLC lifted its holdings in Heritage Financial Corporation (NASDAQ:HFWA) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,213,473 shares of the financial services provider’s stock after purchasing an additional 106,308 shares during the quarter. Jennison Associates LLC owned 0.08% of Heritage Financial worth $83,550,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in Heritage Financial by 27,871.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,958 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,951 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Heritage Financial by 99.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,875 shares of the financial services provider’s stock worth $69,000 after buying an additional 1,431 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Heritage Financial by 20.8% during the 4th quarter. GAMMA Investing LLC now owns 5,171 shares of the financial services provider’s stock worth $122,000 after buying an additional 891 shares during the last quarter. CWM LLC boosted its stake in shares of Heritage Financial by 7.7% during the 4th quarter. CWM LLC now owns 8,249 shares of the financial services provider’s stock worth $195,000 after buying an additional 592 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Heritage Financial by 117.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,457 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 4,561 shares in the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.

Insider Buying and Selling

In other Heritage Financial news, CFO Donald Hinson sold 3,842 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $28.37, for a total transaction of $108,997.54. Following the transaction, the chief financial officer owned 41,241 shares of the company’s stock, valued at $1,170,007.17. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HFWA. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Heritage Financial in a research report on Tuesday, July 7th. Piper Sandler reduced their price target on Heritage Financial from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Wall Street Zen upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Zacks Research raised Heritage Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Heritage Financial currently has an average rating of “Moderate Buy” and an average price target of $30.50.

Heritage Financial Stock Performance

Shares of HFWA stock opened at $30.52 on Monday. The stock has a market cap of $1.26 billion, a P/E ratio of 14.96 and a beta of 0.49. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.81 and a quick ratio of 0.81. The company has a fifty day moving average price of $28.28 and a two-hundred day moving average price of $26.97. Heritage Financial Corporation has a one year low of $21.32 and a one year high of $31.25.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $77.92 million for the quarter, compared to analyst estimates of $80.31 million. Heritage Financial had a net margin of 20.50% and a return on equity of 8.71%. As a group, equities analysts predict that Heritage Financial Corporation will post 2.39 EPS for the current year.

Heritage Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were issued a dividend of $0.24 per share. The ex-dividend date was Wednesday, May 6th. This represents a $0.96 dividend on an annualized basis and a yield of 3.1%. Heritage Financial’s dividend payout ratio (DPR) is presently 47.06%.

About Heritage Financial

Heritage Financial Corporation (NASDAQ:HFWA) is a bank holding company headquartered in Spokane, Washington. Through its primary subsidiary, Heritage Bank, the company provides a comprehensive range of banking and financial services to both individual and commercial clients. Heritage Bank’s offerings encompass deposit products, lending solutions, treasury and cash management services, mortgage banking, and wealth management, positioning the organization as a full-service community bank.

The company’s lending portfolio includes commercial real estate loans, agricultural loans, small business administration (SBA) loans, construction and development financing, and a variety of consumer mortgage products.