Heritage Financial Corporation (NASDAQ:HFWA) Shareholders to Collect $0.25 Quarterly Dividend

by · The Cerbat Gem

Heritage Financial Corporation (NASDAQ:HFWA – Get Free Report) announced a quarterly dividend on Wednesday, October 21st. Shareholders of record on Wednesday, November 4th will be paid a dividend of $0.25 per share by the financial services provider on Wednesday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, November 4th.

Heritage Financial has a payout ratio of 44.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Heritage Financial to earn $2.63 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 38.0%.

Heritage Financial Stock Performance

HFWA traded up $0.84 on Thursday, hitting $28.52. The company had a trading volume of 475,288 shares, compared to its average volume of 327,802. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 13.58 and a beta of 0.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.83 and a quick ratio of 0.83. The company’s fifty day moving average price is $28.33 and its 200 day moving average price is $28.33. Heritage Financial has a 1-year low of $21.32 and a 1-year high of $31.25.

Heritage Financial (NASDAQ:HFWA – Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Heritage Financial had a net margin of 20.44% and a return on equity of 8.78%. Equities analysts predict that Heritage Financial will post 2.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Heritage Financial in a research note on Friday, October 2nd. Keefe, Bruyette & Woods increased their price target on shares of Heritage Financial from $31.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. DA Davidson raised their price target on shares of Heritage Financial from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Capital One Financial set a $33.00 price objective on Heritage Financial in a report on Tuesday, September 22nd. Finally, Zacks Research lowered Heritage Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 23rd. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Heritage Financial has a consensus rating of “Hold” and a consensus price target of $32.67.

Read Our Latest Research Report on HFWA

About Heritage Financial

(Get Free Report)

Heritage Financial Corporation (NASDAQ: HFWA) is a bank holding company headquartered in Olympia, Washington. The company operates primarily through Heritage Bank, a community-focused financial institution serving businesses, individuals and organizations in Washington and Oregon.

Heritage Bank provides commercial and residential real estate lending, business and consumer loans, deposit accounts, cash-management and treasury services, online and mobile banking, and other traditional banking products.

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