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

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 to investors on Monday, April 29th. DA Davidson analyst J. Rulis anticipates that the financial services provider will earn $0.42 per share for the quarter. DA Davidson currently has a “Buy” rating and a $23.00 target price 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.

Other analysts have also recently issued research reports about the company. StockNews.com upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. Stephens reiterated an “equal weight” rating and issued a $22.00 price objective on shares of Heritage Financial in a research note on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Heritage Financial from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.25.

Heritage Financial Stock Down 1.2 %

HFWA stock opened at $17.66 on Tuesday. The company’s 50 day moving average is $18.35 and its two-hundred day moving average is $18.76. Heritage Financial has a twelve month low of $14.85 and a twelve month high of $22.55. 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 stock has a market cap of $611.92 million, a P/E ratio of 13.28 and a beta of 0.54.

Heritage Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.92 annualized dividend and a yield of 5.21%. Heritage Financial’s dividend payout ratio (DPR) is presently 69.17%.

Institutional Investors Weigh In On Heritage Financial

Several hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in Heritage Financial by 72.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,394 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 1,428 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of Heritage Financial in the 4th quarter worth $81,000. SG Americas Securities LLC acquired a new position in Heritage Financial in the third quarter valued at $145,000. Sequoia Financial Advisors LLC purchased a new stake in Heritage Financial during the third quarter valued at about $184,000. Finally, Aigen Investment Management LP purchased a new position in shares of Heritage Financial in the 3rd quarter worth about $206,000. 78.30% of the stock is owned by institutional investors and hedge funds.

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.