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.
Wall Street Analysts Forecast Growth
Separately, DA Davidson raised shares of Heritage Financial from a "neutral" rating to a "buy" rating in a research note on Monday, July 25th.
Heritage Financial Trading Down 0.7 %
Shares of HFWA traded down $0.19 during mid-day trading on Thursday, reaching $27.11. 106,892 shares of the company were exchanged, compared to its average volume of 180,540. The business has a 50 day simple moving average of $25.62 and a two-hundred day simple moving average of $25.38. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $951.67 million, a PE ratio of 12.27 and a beta of 0.61. Heritage Financial has a 52 week low of $20.95 and a 52 week high of $27.90.
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 period last year, the company posted $0.90 EPS. On average, analysts predict that Heritage Financial will post 2.14 earnings per share for the current fiscal year.
Heritage Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 17th. Stockholders of record on Wednesday, August 3rd were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Tuesday, August 2nd. Heritage Financial's dividend payout ratio is 38.01%.
Insider Activity at Heritage Financial
In other Heritage Financial news, Director Brian L. Vance sold 5,470 shares of Heritage Financial stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $25.83, for a total value of $141,290.10. Following the completion of the sale, the director now directly owns 97,513 shares in the company, valued at $2,518,760.79. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is owned by corporate insiders.