Heritage Financial (NASDAQ:HFWA) Issues Earnings Results

Heritage Financial (NASDAQ:HFWA) issued its quarterly earnings data on Thursday. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.09), Zacks reports. Heritage Financial had a return on equity of 7.95% and a net margin of 14.59%. The company had revenue of $81.65 million for the quarter, compared to analyst estimates of $58.17 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share.

Heritage Financial Trading Down 0.1 %

Shares of Heritage Financial stock traded down $0.02 during trading on Friday, hitting $22.34. The stock had a trading volume of 127,156 shares, compared to its average volume of 127,507. The stock has a 50 day simple moving average of $21.94 and a 200 day simple moving average of $19.95. Heritage Financial has a 1 year low of $15.94 and a 1 year high of $23.82. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $770.73 million, a PE ratio of 17.73 and a beta of 0.53.

Heritage Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.12%. Heritage Financial’s dividend payout ratio (DPR) is presently 73.02%.

Wall Street Analyst Weigh In

HFWA has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of Heritage Financial from $23.00 to $26.00 and gave the stock an “overweight” rating in a research 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 report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Heritage Financial has a consensus rating of “Hold” and a consensus price target 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.