DA Davidson Research Analysts Cut Earnings Estimates for Heritage Financial Co. (NASDAQ:HFWA)

Heritage Financial Co. (NASDAQ:HFWA) – Investment analysts at DA Davidson decreased their FY2024 earnings per share estimates for Heritage Financial in a research report issued on Monday, April 29th. DA Davidson analyst J. Rulis now expects that the financial services provider will post earnings per share of $1.70 for the year, down from their prior estimate of $2.05. 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 $1.68 per share.

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

Heritage Financial Price Performance

Shares of HFWA opened at $17.74 on Wednesday. The firm has a market capitalization of $614.78 million, a price-to-earnings ratio of 13.34 and a beta of 0.54. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.78 and a current ratio of 0.80. Heritage Financial has a one year low of $14.85 and a one year high of $22.55. The stock’s fifty day moving average is $18.35 and its 200-day moving average is $18.76.

Heritage Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given 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 dividend payout ratio (DPR) is 69.17%.

Hedge Funds Weigh In On Heritage Financial

A number of hedge funds and other institutional investors have recently modified their holdings of HFWA. Mirae Asset Global Investments Co. Ltd. boosted its position in Heritage Financial by 5.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,644 shares of the financial services provider’s stock worth $420,000 after acquiring an additional 947 shares during the period. Swiss National Bank boosted its position in Heritage Financial by 1.8% during the 3rd quarter. Swiss National Bank now owns 77,168 shares of the financial services provider’s stock worth $1,259,000 after acquiring an additional 1,400 shares during the period. PNC Financial Services Group Inc. boosted its position in Heritage Financial by 72.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,394 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 1,428 shares during the period. Kiley Juergens Wealth Management LLC lifted its holdings in shares of Heritage Financial by 0.7% during the 1st quarter. Kiley Juergens Wealth Management LLC now owns 239,596 shares of the financial services provider’s stock valued at $4,646,000 after buying an additional 1,741 shares during the last quarter. Finally, Ziegler Capital Management LLC lifted its holdings in shares of Heritage Financial by 9.1% during the 4th quarter. Ziegler Capital Management LLC now owns 35,566 shares of the financial services provider’s stock valued at $761,000 after buying an additional 2,962 shares during the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.

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.