Analysts Issue Forecasts for Heritage Financial Co.’s FY2024 Earnings (NASDAQ:HFWA)

Heritage Financial Co. (NASDAQ:HFWA) – Analysts at DA Davidson cut their FY2024 earnings per share (EPS) estimates for Heritage Financial in a note issued to investors on Monday, April 29th. DA Davidson analyst J. Rulis now expects that the financial services provider will post earnings per share of $1.70 for the year, down from their prior forecast of $2.05. DA Davidson currently has a “Buy” rating and a $23.00 target price on the stock. The consensus estimate for Heritage Financial’s current full-year earnings is $1.68 per share.

A number of other research analysts also recently commented on the stock. Stephens reissued an “equal weight” rating and set a $22.00 target price on shares of Heritage Financial in a research report on Wednesday, March 13th. StockNews.com upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 26th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Heritage Financial from $23.00 to $22.00 and set a “market perform” rating for the company 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 MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.25.

Heritage Financial Stock Up 2.9 %

Shares of HFWA opened at $18.26 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $18.34 and a 200 day moving average of $18.77. The company has a market cap of $632.80 million, a PE ratio of 13.73 and a beta of 0.54. Heritage Financial has a 52-week low of $14.85 and a 52-week high of $22.55.

Institutional Investors Weigh In On Heritage Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Heritage Financial by 39.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,308 shares of the financial services provider’s stock worth $569,000 after purchasing an additional 7,664 shares during the period. Principal Financial Group Inc. increased its holdings in Heritage Financial by 10.1% in the first quarter. Principal Financial Group Inc. now owns 200,324 shares of the financial services provider’s stock valued at $3,884,000 after buying an additional 18,434 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Heritage Financial by 6.2% in the first quarter. Assenagon Asset Management S.A. now owns 205,854 shares of the financial services provider’s stock worth $3,992,000 after acquiring an additional 12,008 shares during the period. Kiley Juergens Wealth Management LLC raised its position in shares of Heritage Financial by 0.7% in the first quarter. Kiley Juergens Wealth Management LLC now owns 239,596 shares of the financial services provider’s stock worth $4,646,000 after acquiring an additional 1,741 shares during the period. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Heritage Financial during the 1st quarter valued at about $216,000. 78.30% of the stock is owned by institutional investors and hedge funds.

Heritage Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.04%. Heritage Financial’s payout ratio is currently 69.17%.

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.