Heritage Financial Co. (NASDAQ:HFWA) to Issue $0.23 Quarterly Dividend

Heritage Financial Co. (NASDAQ:HFWA) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Wednesday, May 8th will be paid a dividend of 0.23 per share by the financial services provider on Wednesday, May 22nd. This represents a $0.92 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Tuesday, May 7th.

Heritage Financial has increased its dividend by an average of 3.2% per year over the last three years and has raised its dividend every year for the last 2 years. Heritage Financial has a dividend payout ratio of 49.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Heritage Financial to earn $1.86 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 49.5%.

Heritage Financial Stock Performance

NASDAQ HFWA opened at $18.89 on Monday. Heritage Financial has a 52-week low of $14.85 and a 52-week high of $22.55. The stock has a market cap of $654.63 million, a PE ratio of 14.20 and a beta of 0.56. The firm has a 50-day moving average of $18.35 and a 200-day moving average of $18.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.78 and a current ratio of 0.80.

Analyst Ratings Changes

Several analysts recently weighed in on HFWA shares. StockNews.com raised Heritage Financial from a “sell” rating to a “hold” rating in a report on Friday, January 26th. Stephens reaffirmed an “equal weight” rating and issued a $22.00 target price on shares of Heritage Financial in a report on Wednesday, March 13th. Keefe, Bruyette & Woods dropped their price target on shares of Heritage Financial from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. Finally, DA Davidson reduced their target price on Heritage Financial from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.25.

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.