Heritage Financial Co. (NASDAQ:HFWA) Announces $0.23 Quarterly Dividend

Heritage Financial Co. (NASDAQ:HFWA) declared a quarterly dividend on Wednesday, October 23rd, Zacks reports. Stockholders of record on Wednesday, November 6th will be paid a dividend of 0.23 per share by the financial services provider on Wednesday, November 20th. This represents a $0.92 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Wednesday, November 6th.

Heritage Financial has raised its dividend payment by an average of 3.2% per year over the last three years and has raised its dividend every year for the last 13 years. Heritage Financial has a dividend payout ratio of 50.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Heritage Financial to earn $1.78 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 51.7%.

Heritage Financial Trading Up 2.2 %

NASDAQ:HFWA opened at $22.36 on Friday. The firm has a market capitalization of $775.67 million, a price-to-earnings ratio of 16.81 and a beta of 0.53. 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 business has a fifty day moving average price of $21.93 and a 200-day moving average price of $19.92. Heritage Financial has a one year low of $15.50 and a one year high of $23.82.

Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. The firm had revenue of $56.36 million for 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%. Sell-side analysts forecast that Heritage Financial will post 1.66 EPS for the current year.

Analyst Ratings Changes

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

Heritage Financial Company Profile

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.