Heritage Financial Co. Expected to Post Q2 2024 Earnings of $0.42 Per Share (NASDAQ:HFWA)

Heritage Financial Co. (NASDAQ:HFWA) – Analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Heritage Financial in a report released on Monday, April 29th. DA Davidson analyst J. Rulis anticipates that the financial services provider will post earnings of $0.42 per share for the quarter. DA Davidson has a “Buy” rating and a $23.00 price objective on the stock. The consensus estimate for Heritage Financial’s current full-year earnings is $1.68 per share. DA Davidson also issued estimates for Heritage Financial’s FY2025 earnings at $2.00 EPS.

Several other equities research analysts also recently issued reports on HFWA. StockNews.com upgraded Heritage Financial from a “sell” rating to a “hold” rating in a report on Friday, January 26th. Keefe, Bruyette & Woods lowered their price objective on Heritage Financial from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. Finally, Stephens reissued an “equal weight” rating and issued a $22.00 target price on shares of Heritage Financial in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.25.

Heritage Financial Price Performance

NASDAQ:HFWA opened at $18.26 on Tuesday. 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 company has a market capitalization of $632.80 million, a P/E 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. The stock’s fifty day moving average is $18.34 and its two-hundred day moving average is $18.77.

Heritage Financial Announces Dividend

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

Hedge Funds Weigh In On Heritage Financial

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Heritage Financial in the 3rd quarter valued at approximately $145,000. Bank of New York Mellon Corp lifted its stake in shares of Heritage Financial by 7.6% during the third quarter. Bank of New York Mellon Corp now owns 928,004 shares of the financial services provider’s stock worth $15,136,000 after purchasing an additional 65,662 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Heritage Financial by 6.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,697 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 1,092 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in Heritage Financial by 118.9% in the 3rd quarter. Panagora Asset Management Inc. now owns 77,487 shares of the financial services provider’s stock worth $1,264,000 after buying an additional 42,088 shares in the last quarter. Finally, Illinois Municipal Retirement Fund bought a new position in Heritage Financial in the 3rd quarter worth approximately $344,000. 78.30% of the stock is owned by hedge funds and other institutional investors.

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.