22,749 Shares in Heritage Financial Co. (NASDAQ:HFWA) Acquired by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in Heritage Financial Co. (NASDAQ:HFWA) during the 2nd quarter, HoldingsChannel reports. The fund purchased 22,749 shares of the financial services provider’s stock, valued at approximately $410,000.

Several other hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Heritage Financial by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,934,852 shares of the financial services provider’s stock valued at $34,884,000 after purchasing an additional 80,044 shares in the last quarter. Jennison Associates LLC purchased a new stake in Heritage Financial in the 1st quarter worth approximately $14,612,000. Renaissance Technologies LLC increased its position in Heritage Financial by 5.6% during the 2nd quarter. Renaissance Technologies LLC now owns 321,089 shares of the financial services provider’s stock valued at $5,789,000 after purchasing an additional 17,100 shares during the period. American Century Companies Inc. increased its position in shares of Heritage Financial by 3.0% during the second quarter. American Century Companies Inc. now owns 278,017 shares of the financial services provider’s stock valued at $5,013,000 after buying an additional 8,112 shares during the period. Finally, Kiley Juergens Wealth Management LLC raised its position in shares of Heritage Financial by 0.7% in the 1st quarter. Kiley Juergens Wealth Management LLC now owns 239,596 shares of the financial services provider’s stock worth $4,646,000 after acquiring an additional 1,741 shares in the last quarter. 78.30% of the stock is currently owned by institutional investors.

Heritage Financial Stock Performance

HFWA stock opened at $21.37 on Friday. Heritage Financial Co. has a 1-year low of $15.50 and a 1-year high of $23.82. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $737.27 million, a P/E ratio of 16.07 and a beta of 0.53. The business has a 50-day moving average price of $22.01 and a 200 day moving average price of $19.51.

Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The business had revenue of $56.36 million during the quarter, compared to the consensus estimate of $58.27 million. Heritage Financial had a return on equity of 7.95% and a net margin of 14.59%. As a group, equities research analysts forecast that Heritage Financial Co. will post 1.66 EPS for the current fiscal year.

Heritage Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.31%. The ex-dividend date was Wednesday, August 7th. Heritage Financial’s payout ratio is currently 69.17%.

Wall Street Analysts Forecast Growth

HFWA has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Heritage Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Piper Sandler upped their price target on shares of Heritage Financial from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.50.

About Heritage Financial

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.