Heritage Financial Co. (HFWA) To Go Ex-Dividend on May 7th

Heritage Financial Co. (NASDAQ:HFWA) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Wednesday, May 8th will be given 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 payment by an average of 3.2% annually 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% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

HFWA opened at $18.89 on Friday. The firm has a market capitalization of $654.54 million, a P/E ratio of 14.20 and a beta of 0.56. The stock has a fifty day moving average of $18.35 and a 200-day moving average of $18.80. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. Heritage Financial has a 12-month low of $14.85 and a 12-month high of $22.55.

Wall Street Analysts Forecast Growth

HFWA has been the subject of a number of research reports. StockNews.com upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. DA Davidson dropped their price objective on shares of Heritage Financial from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Keefe, Bruyette & Woods decreased 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 research note on Friday, January 26th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $22.00 price target on shares of Heritage Financial in a research note on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.25.

About Heritage Financial

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.