Heritage Financial Co. (NASDAQ:HFWA) to Post Q2 2024 Earnings of $0.42 Per Share, DA Davidson Forecasts

Heritage Financial Co. (NASDAQ:HFWA) – Stock analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Heritage Financial in a research note issued on Monday, April 29th. DA Davidson analyst J. Rulis anticipates that the financial services provider will post earnings per share of $0.42 for the quarter. DA Davidson currently 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.

A number of other equities analysts also recently issued reports on HFWA. Keefe, Bruyette & Woods cut their price target on Heritage Financial from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Friday, January 26th. Stephens reaffirmed an “equal weight” rating and set a $22.00 target price on shares of Heritage Financial in a research report on Wednesday, March 13th. Finally, StockNews.com raised Heritage Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.25.

Heritage Financial Trading Up 0.5 %

NASDAQ:HFWA opened at $17.74 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.78. Heritage Financial has a one year low of $14.85 and a one year high of $22.55. The company has a market cap of $614.69 million, a PE ratio of 13.34 and a beta of 0.54. The firm has a 50-day moving average of $18.35 and a 200-day moving average of $18.76.

Heritage Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.19%. Heritage Financial’s payout ratio is presently 69.17%.

Hedge Funds Weigh In On Heritage Financial

Institutional investors have recently modified their holdings of the business. Aigen Investment Management LP purchased a new position in Heritage Financial in the third quarter worth $206,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Heritage Financial by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 982,685 shares of the financial services provider’s stock worth $16,028,000 after buying an additional 45,052 shares during the last quarter. Bank of New York Mellon Corp grew its position in Heritage Financial by 7.6% during the third 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 buying an additional 65,662 shares during the period. Schroder Investment Management Group increased its holdings in Heritage Financial by 34.7% during the third quarter. Schroder Investment Management Group now owns 535,820 shares of the financial services provider’s stock worth $8,739,000 after buying an additional 137,915 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Heritage Financial by 6.2% during 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. 78.30% of the stock is owned by institutional investors.

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.