DA Davidson Comments on Heritage Financial Co.’s Q2 2024 Earnings (NASDAQ:HFWA)

Heritage Financial Co. (NASDAQ:HFWA) – Analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Heritage Financial in a research note issued to investors on Monday, April 29th. DA Davidson analyst J. Rulis expects that the financial services provider will post earnings per share of $0.42 for the quarter. DA Davidson has a “Buy” rating and a $23.00 price target on the stock. The consensus estimate for Heritage Financial’s current full-year earnings is $1.68 per share. DA Davidson also issued estimates for Heritage Financial’s FY2025 earnings at $2.00 EPS.

Other equities analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods decreased their price objective on Heritage Financial from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. Stephens reiterated an “equal weight” rating and issued a $22.00 price objective on shares of Heritage Financial in a research note on Wednesday, March 13th. Finally, StockNews.com upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 26th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.25.

Heritage Financial Stock Performance

Shares of HFWA opened at $18.26 on Tuesday. The stock has a 50-day simple moving average of $18.34 and a 200-day simple moving average of $18.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.78 and a current ratio of 0.80. The stock has a market capitalization of $632.80 million, a PE ratio of 13.73 and a beta of 0.54. Heritage Financial has a 1 year low of $14.85 and a 1 year high of $22.55.

Heritage Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend is Tuesday, May 7th. Heritage Financial’s dividend payout ratio (DPR) is 69.17%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in shares of Heritage Financial by 72.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,394 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 1,428 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Heritage Financial in the fourth quarter valued at approximately $81,000. SG Americas Securities LLC acquired a new position in shares of Heritage Financial in the third quarter valued at approximately $145,000. Sequoia Financial Advisors LLC acquired a new position in shares of Heritage Financial in the third quarter valued at approximately $184,000. Finally, Aigen Investment Management LP acquired a new position in shares of Heritage Financial in the third quarter valued at approximately $206,000. Institutional investors and hedge funds own 78.30% of the company’s stock.

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.