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

Heritage Financial Co. (NASDAQ:HFWA) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Shareholders of record on Wednesday, August 7th will be given a dividend of 0.23 per share by the financial services provider on Wednesday, August 21st. This represents a $0.92 annualized dividend and a dividend yield of 4.39%. The ex-dividend date is Wednesday, August 7th.

Heritage Financial has increased its dividend by an average of 3.2% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Heritage Financial has a payout ratio of 51.4% meaning its dividend is sufficiently covered by earnings. Equities research 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 Down 1.2 %

Shares of NASDAQ:HFWA traded down $0.25 during trading on Tuesday, reaching $20.96. The company’s stock had a trading volume of 4,565 shares, compared to its average volume of 188,830. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61. Heritage Financial has a 12 month low of $15.50 and a 12 month high of $23.82. The firm’s 50 day simple moving average is $18.91 and its two-hundred day simple moving average is $18.75. The stock has a market capitalization of $727.10 million, a PE ratio of 15.95 and a beta of 0.54.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HFWA shares. Piper Sandler lifted their price objective on shares of Heritage Financial from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods boosted their target price on shares of Heritage Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Heritage Financial currently has an average 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.