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

Heritage Financial Co. (NASDAQ:HFWA) – Equities researchers at DA Davidson issued their Q2 2024 earnings per share estimates for Heritage Financial in a research report issued on Monday, April 29th. DA Davidson analyst J. Rulis forecasts that the financial services provider will earn $0.42 per share for the quarter. DA Davidson has a “Buy” rating and a $23.00 price target on the stock. The consensus estimate for Heritage Financial’s current full-year earnings is $1.73 per share. DA Davidson also issued estimates for Heritage Financial’s FY2025 earnings at $2.00 EPS.

Several other equities analysts also recently weighed in on HFWA. Stephens reiterated 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 raised shares of Heritage Financial from a “sell” rating to a “hold” rating in a report on Friday, January 26th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Heritage Financial from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Friday, January 26th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.25.

Heritage Financial Stock Performance

Shares of NASDAQ HFWA opened at $17.66 on Tuesday. Heritage Financial has a 12-month low of $14.85 and a 12-month high of $22.55. The firm has a 50 day moving average of $18.35 and a 200 day moving average of $18.76. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $611.92 million, a price-to-earnings ratio of 13.28 and a beta of 0.54.

Heritage Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend is Tuesday, May 7th. Heritage Financial’s payout ratio is currently 69.17%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Heritage Financial during the 3rd quarter worth approximately $145,000. Bank of New York Mellon Corp increased its position in shares of Heritage Financial by 7.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 928,004 shares of the financial services provider’s stock valued at $15,136,000 after purchasing an additional 65,662 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Heritage Financial by 6.2% in 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 buying an additional 1,092 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Heritage Financial by 118.9% during the third 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 during the period. Finally, Illinois Municipal Retirement Fund bought a new position in Heritage Financial during the third quarter valued at $344,000. Hedge funds and other institutional investors own 78.30% of the company’s stock.

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.