Heritage Financial Corporation (NASDAQ:HFWA) Plans Quarterly Dividend of $0.25

Heritage Financial Corporation (NASDAQ:HFWA) declared a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Wednesday, August 5th will be given a dividend of 0.25 per share by the financial services provider on Wednesday, August 19th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 5th. This is a 4.2% increase from Heritage Financial’s previous quarterly dividend of $0.24.

Heritage Financial has raised its dividend payment by an average of 0.0%per year 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% meaning its dividend is sufficiently covered by earnings. Research analysts expect Heritage Financial to earn $2.80 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 34.3%.

Heritage Financial Price Performance

Shares of NASDAQ:HFWA traded up $0.11 on Thursday, hitting $30.29. The company had a trading volume of 1,100,712 shares, compared to its average volume of 307,162. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.25 billion, a PE ratio of 14.85 and a beta of 0.49. Heritage Financial has a 52-week low of $21.32 and a 52-week high of $31.25. The business has a 50 day moving average of $28.51 and a 200 day moving average of $27.11.

Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.13. Heritage Financial had a return on equity of 8.71% and a net margin of 20.50%. As a group, equities analysts anticipate that Heritage Financial will post 2.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Donald Hinson sold 3,842 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $28.37, for a total transaction of $108,997.54. Following the transaction, the chief financial officer directly owned 41,241 shares in the company, valued at approximately $1,170,007.17. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.49% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Heritage Financial by 12.2% during the 2nd quarter. GAMMA Investing LLC now owns 6,519 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 710 shares during the last quarter. Rhino Investment Partners Inc boosted its position in shares of Heritage Financial by 77.7% in the first quarter. Rhino Investment Partners Inc now owns 330,459 shares of the financial services provider’s stock worth $8,592,000 after acquiring an additional 144,515 shares during the last quarter. Empowered Funds LLC grew its holdings in Heritage Financial by 8.9% in the first quarter. Empowered Funds LLC now owns 166,079 shares of the financial services provider’s stock valued at $4,318,000 after purchasing an additional 13,564 shares during the period. Quantinno Capital Management LP grew its holdings in Heritage Financial by 29.9% in the first quarter. Quantinno Capital Management LP now owns 55,145 shares of the financial services provider’s stock valued at $1,434,000 after purchasing an additional 12,685 shares during the period. Finally, Lazard Asset Management LLC increased its position in Heritage Financial by 21.7% during the first quarter. Lazard Asset Management LLC now owns 40,326 shares of the financial services provider’s stock worth $1,048,000 after purchasing an additional 7,197 shares during the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.

Heritage Financial Company Profile

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.