Heritage Financial Corp (NASDAQ:HFWA) announced a quarterly dividend on Wednesday, July 22nd, Zacks reports. Shareholders of record on Wednesday, August 5th will be paid a dividend of 0.20 per share by the financial services provider on Wednesday, August 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Tuesday, August 4th.
Heritage Financial has raised its dividend by an average of 57.5% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Heritage Financial has a payout ratio of 55.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Heritage Financial to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 71.4%.
Shares of HFWA opened at $18.92 on Friday. Heritage Financial has a 1-year low of $14.65 and a 1-year high of $29.25. The stock has a market cap of $678.82 million, a PE ratio of 17.04 and a beta of 0.70. The firm has a 50-day simple moving average of $19.19 and a two-hundred day simple moving average of $21.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.88 and a quick ratio of 0.88.
Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.34). Heritage Financial had a net margin of 16.36% and a return on equity of 5.13%. The company had revenue of $58.56 million for the quarter, compared to analyst estimates of $57.03 million. As a group, sell-side analysts expect that Heritage Financial will post 1.2 earnings per share for the current fiscal year.
In other Heritage Financial news, CEO Jeffrey J. Deuel acquired 5,391 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was purchased at an average price of $18.55 per share, for a total transaction of $100,003.05. Following the completion of the acquisition, the chief executive officer now owns 39,351 shares of the company’s stock, valued at approximately $729,961.05. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.
HFWA has been the subject of a number of research reports. Zacks Investment Research cut shares of Heritage Financial from a “hold” rating to a “sell” rating in a report on Friday, July 24th. BidaskClub cut shares of Heritage Financial from a “hold” rating to a “sell” rating in a report on Friday, June 12th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $30.00.
About Heritage Financial
Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to businesses and individuals in the United States. The company accepts various deposit products, such as noninterest demand accounts, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.
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