Heritage Financial Corporation (NASDAQ:HFWA) Declares $0.24 Quarterly Dividend

Heritage Financial Corporation (NASDAQ:HFWA) announced a quarterly dividend on Thursday, October 23rd. Stockholders of record on Wednesday, November 5th will be paid a dividend of 0.24 per share by the financial services provider on Wednesday, November 19th. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, November 5th.

Heritage Financial has a payout ratio of 42.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Heritage Financial to earn $2.28 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 42.1%.

Heritage Financial Stock Performance

Shares of NASDAQ HFWA opened at $23.05 on Friday. The company has a market cap of $782.55 million, a PE ratio of 16.12 and a beta of 0.53. Heritage Financial has a 12 month low of $19.84 and a 12 month high of $27.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50-day simple moving average of $24.02 and a 200-day simple moving average of $23.60.

Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The business had revenue of $56.50 million during the quarter, compared to the consensus estimate of $63.54 million. Heritage Financial had a net margin of 15.22% and a return on equity of 7.34%. On average, equities analysts anticipate that Heritage Financial will post 2.09 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Heritage Financial by 2.2% during the first quarter. Principal Financial Group Inc. now owns 193,820 shares of the financial services provider’s stock worth $4,716,000 after purchasing an additional 4,101 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Heritage Financial during the first quarter worth $844,000. Strs Ohio acquired a new position in shares of Heritage Financial during the first quarter worth $613,000. Public Sector Pension Investment Board lifted its position in shares of Heritage Financial by 26.7% during the first quarter. Public Sector Pension Investment Board now owns 107,826 shares of the financial services provider’s stock worth $2,623,000 after purchasing an additional 22,718 shares in the last quarter. Finally, Penn Capital Management Company LLC acquired a new position in shares of Heritage Financial during the first quarter worth $631,000. 78.30% of the stock is owned by institutional investors and hedge funds.

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.