Heritage Financial Corporation (NASDAQ:HFWA) Declares Quarterly Dividend of $0.24

Heritage Financial Corporation (NASDAQ:HFWA) declared a quarterly dividend on Friday, January 16th. Shareholders of record on Wednesday, January 28th will be paid a dividend of 0.24 per share by the financial services provider on Wednesday, February 11th. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, January 28th.

Heritage Financial has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Heritage Financial has a dividend payout ratio of 42.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Heritage Financial to earn $2.28 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 42.1%.

Heritage Financial Stock Down 5.5%

NASDAQ:HFWA opened at $26.58 on Monday. The firm has a market capitalization of $902.66 million, a PE ratio of 13.56 and a beta of 0.52. The stock has a 50 day moving average of $24.42 and a 200-day moving average of $23.95. The company has a current ratio of 0.83, a quick ratio of 0.84 and a debt-to-equity ratio of 0.05. Heritage Financial has a 52 week low of $19.84 and a 52 week high of $28.35.

Heritage Financial (NASDAQ:HFWA) last posted its earnings results on Thursday, January 22nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.09. Heritage Financial had a return on equity of 8.61% and a net margin of 20.10%.The company had revenue of $66.35 million for the quarter, compared to analysts’ expectations of $65.95 million. Analysts predict that Heritage Financial will post 2.09 EPS for the current year.

About Heritage Financial

Heritage Financial Corporation (NASDAQ:HFWA) is a bank holding company headquartered in Spokane, Washington. Through its primary subsidiary, Heritage Bank, the company provides a comprehensive range of banking and financial services to both individual and commercial clients. Heritage Bank’s offerings encompass deposit products, lending solutions, treasury and cash management services, mortgage banking, and wealth management, positioning the organization as a full-service community bank.

The company’s lending portfolio includes commercial real estate loans, agricultural loans, small business administration (SBA) loans, construction and development financing, and a variety of consumer mortgage products.