Dana Investment Advisors Inc. Sells 3,281 Shares of Heritage Financial Co. (NASDAQ:HFWA)

Dana Investment Advisors Inc. cut its position in Heritage Financial Co. (NASDAQ:HFWA) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 244,138 shares of the financial services provider’s stock after selling 3,281 shares during the quarter. Dana Investment Advisors Inc. owned 0.70% of Heritage Financial worth $4,402,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HFWA. Dimensional Fund Advisors LP increased its stake in shares of Heritage Financial by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,934,852 shares of the financial services provider’s stock valued at $34,884,000 after buying an additional 80,044 shares during the period. Jennison Associates LLC acquired a new position in Heritage Financial in the 1st quarter valued at approximately $14,612,000. Renaissance Technologies LLC raised its stake in shares of Heritage Financial by 5.6% during the second quarter. Renaissance Technologies LLC now owns 321,089 shares of the financial services provider’s stock valued at $5,789,000 after acquiring an additional 17,100 shares during the last quarter. American Century Companies Inc. lifted its holdings 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 worth $5,013,000 after purchasing an additional 8,112 shares during the period. Finally, Kiley Juergens Wealth Management LLC grew its stake in shares of Heritage Financial by 0.7% in the first quarter. Kiley Juergens Wealth Management LLC now owns 239,596 shares of the financial services provider’s stock worth $4,646,000 after purchasing an additional 1,741 shares during the last quarter. 78.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on HFWA. Keefe, Bruyette & Woods raised their target price on Heritage Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Piper Sandler increased their price target on Heritage Financial from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $23.50.

Heritage Financial Price Performance

HFWA stock opened at $20.77 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.61. The firm has a market cap of $720.51 million, a price-to-earnings ratio of 15.62 and a beta of 0.53. The company’s fifty day simple moving average is $21.99 and its 200 day simple moving average is $19.56. Heritage Financial Co. has a 12-month low of $15.50 and a 12-month high of $23.82.

Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. Heritage Financial had a return on equity of 7.95% and a net margin of 14.59%. The company had revenue of $56.36 million for the quarter, compared to the consensus estimate of $58.27 million. On average, analysts expect that Heritage Financial Co. will post 1.66 earnings per share for the current year.

Heritage Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Wednesday, August 7th. Heritage Financial’s payout ratio is 69.17%.

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.