Heritage Financial Corporation (HFWA) To Go Ex-Dividend on November 4th

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

Heritage Financial has a dividend payout ratio of 44.2% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 3.0%

Shares of NASDAQ HFWA opened at $28.52 on Friday. Heritage Financial has a 1-year low of $21.32 and a 1-year high of $31.25. The company has a market cap of $1.17 billion, a PE ratio of 13.58 and a beta of 0.50. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $28.30 and a two-hundred day moving average of $28.35.

Heritage Financial (NASDAQ:HFWA) last announced its earnings results on Thursday, October 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, topping 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%. The company had revenue of $86.51 million for the quarter, compared to analyst estimates of $86.11 million. As a group, equities analysts expect that Heritage Financial will post 2.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HFWA. Brean Capital raised shares of Heritage Financial from a “neutral” rating to a “buy” rating and set a $33.00 price target for the company in a report on Tuesday, September 22nd. Raymond James Financial reaffirmed a “market perform” rating on shares of Heritage Financial in a report on Thursday. Zacks Research lowered Heritage Financial from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 23rd. Capital One Financial set a $33.00 price objective on Heritage Financial in a research report on Tuesday, September 22nd. Finally, Stephens lifted their target price on Heritage Financial from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 28th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Heritage Financial presently has a consensus rating of “Hold” and an average price target of $32.67.

About Heritage Financial

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.