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. The company 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. Its loan portfolio includes commercial and industrial loans, owner-occupied and non-owner occupied commercial real estate loans, one-to-four family residential loans, real estate construction and land development loans, consumer loans, commercial business loans, lines of credit, term equipment financing, and term real estate loans, as well as commercial business loans to a range of businesses in industries that include real estate and rental and leasing, healthcare, accommodation and food services, retail trade, and construction. The company also originates loans that are guaranteed by the U.S. Small Business Administration; and offers trust services, as well as objective advice. As of January 27, 2022, it had a network of 49 banking offices located in Washington and Oregon. The company was formerly known as Heritage Financial Corporation, M.H.C. and changed its name to Heritage Financial Corporation in 1998. Heritage Financial Corporation was founded in 1927 and is headquartered in Olympia, Washington.
Heritage Financial Stock Performance
Shares of HFWA traded up $0.33 during mid-day trading on Wednesday, reaching $26.12. 199,260 shares of the company's stock traded hands, compared to its average volume of 181,850. The business's 50-day moving average price is $25.45 and its 200-day moving average price is $25.29. The stock has a market capitalization of $916.86 million, a P/E ratio of 11.82 and a beta of 0.61. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.75 and a current ratio of 0.75. Heritage Financial has a 12 month low of $20.95 and a 12 month high of $27.45.
Heritage Financial (NASDAQ:HFWA - Get Rating) last posted its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. Heritage Financial had a net margin of 33.11% and a return on equity of 9.41%. During the same quarter last year, the firm earned $0.90 EPS. Equities analysts predict that Heritage Financial will post 2.11 earnings per share for the current year.
Heritage Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 17th. Investors of record on Wednesday, August 3rd will be paid a dividend of $0.21 per share. The ex-dividend date is Tuesday, August 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.22%. Heritage Financial's dividend payout ratio is presently 38.01%.
Analyst Ratings Changes
Separately, DA Davidson raised Heritage Financial from a "neutral" rating to a "buy" rating in a report on Monday, July 25th.
Insider Activity at Heritage Financial
In related news, Director Brian L. Vance sold 5,470 shares of the firm's stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $25.83, for a total transaction of $141,290.10. Following the transaction, the director now owns 97,513 shares in the company, valued at $2,518,760.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company's stock.