Heritage Financial Corp (NASDAQ:HFWA) Declares Dividend Increase – $0.19 Per Share

Heritage Financial Corp (NASDAQ:HFWA) announced a quarterly dividend on Wednesday, July 24th, NASDAQ reports. Investors of record on Thursday, August 8th will be given a dividend of 0.19 per share by the financial services provider on Thursday, August 22nd. This represents a $0.76 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Wednesday, August 7th. This is a boost from Heritage Financial’s previous quarterly dividend of $0.18.

Heritage Financial has increased its dividend payment by an average of 13.0% per year over the last three years and has increased its dividend every year for the last 8 years. Heritage Financial has a payout ratio of 42.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Heritage Financial to earn $2.03 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 37.4%.

Heritage Financial stock opened at $26.50 on Tuesday. The company has a fifty day moving average of $29.01. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.00 billion, a PE ratio of 15.06, a P/E/G ratio of 2.09 and a beta of 0.72. Heritage Financial has a 1 year low of $26.00 and a 1 year high of $37.40.

Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.07). The firm had revenue of $58.10 million during the quarter, compared to analysts’ expectations of $59.73 million. Heritage Financial had a net margin of 25.83% and a return on equity of 8.86%. On average, sell-side analysts predict that Heritage Financial will post 1.85 EPS for the current fiscal year.

A number of research analysts have weighed in on the company. Zacks Investment Research upgraded Heritage Financial from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Sandler O’Neill lowered Heritage Financial from a “buy” rating to a “hold” rating and decreased their price objective for the company from $34.00 to $32.00 in a report on Friday, April 26th. Janney Montgomery Scott lowered Heritage Financial from a “buy” rating to a “neutral” rating in a report on Friday, July 26th. BidaskClub lowered Heritage Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. Finally, ValuEngine lowered Heritage Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.00.

In other Heritage Financial news, Director Lisa Banner sold 976 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $29.25, for a total value of $28,548.00. Following the transaction, the director now owns 731 shares in the company, valued at approximately $21,381.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

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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Dividend History for Heritage Financial (NASDAQ:HFWA)

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