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

Key Points

• Heritage Financial Corporation announced a quarterly dividend of $0.24 per share, with stockholders of record set to receive it on November 19th.
• The company has a payout ratio of 42.5%, indicating that its dividend is well-covered by earnings, and analysts expect a future payout ratio of 42.1%.
• Heritage Financial reported a net margin of 15.22% and earnings per share of $0.53 in its last quarterly earnings, exceeding consensus estimates.

Heritage Financial Corporation (NASDAQ:HFWA - Get Free Report) announced a quarterly dividend on Thursday, October 23rd. Stockholders of record on Wednesday, November 5th will be given a dividend of 0.24 per share by the financial services provider on Wednesday, November 19th. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, November 5th.

Heritage Financial has a payout ratio of 42.5% meaning 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 Up 0.3%

HFWA stock opened at $23.05 on Friday. Heritage Financial has a one year low of $19.84 and a one year high of $27.58. The stock has a market capitalization of $782.55 million, a PE ratio of 16.12 and a beta of 0.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.85. The company has a fifty day moving average of $24.02 and a 200-day moving average of $23.60.

Heritage Financial (NASDAQ:HFWA - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.50 by $0.03. Heritage Financial had a net margin of 15.22% and a return on equity of 7.34%. The company had revenue of $56.50 million during the quarter, compared to analysts' expectations of $63.54 million. As a group, analysts expect that Heritage Financial will post 2.09 EPS for the current year.

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.

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