Shares of Heritage Financial Co. (NASDAQ:HFWA – Get Rating) were up 4.7% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $26.54 and last traded at $26.46. Approximately 4,942 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 197,393 shares. The stock had previously closed at $25.28.
The financial services provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.18. Heritage Financial had a return on equity of 11.58% and a net margin of 39.62%. During the same period last year, the business earned $0.70 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 18th. Stockholders of record on Wednesday, May 4th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Tuesday, May 3rd. Heritage Financial’s dividend payout ratio (DPR) is 30.77%.
A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in Heritage Financial by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,631,076 shares of the financial services provider’s stock valued at $39,863,000 after buying an additional 38,169 shares during the last quarter. State Street Corp raised its position in Heritage Financial by 5.6% during the fourth quarter. State Street Corp now owns 1,557,395 shares of the financial services provider’s stock valued at $38,063,000 after purchasing an additional 82,865 shares during the period. Goldman Sachs Group Inc. raised its position in Heritage Financial by 13.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,332,037 shares of the financial services provider’s stock valued at $32,555,000 after purchasing an additional 158,006 shares during the period. Victory Capital Management Inc. raised its position in Heritage Financial by 8.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,033,479 shares of the financial services provider’s stock valued at $25,259,000 after purchasing an additional 82,664 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Heritage Financial by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 852,728 shares of the financial services provider’s stock valued at $21,745,000 after purchasing an additional 81,637 shares during the period. 79.72% of the stock is owned by institutional investors.
The company has a debt-to-equity ratio of 0.02, a current ratio of 0.84 and a quick ratio of 0.84. The business has a 50-day simple moving average of $25.33 and a 200-day simple moving average of $25.08. The firm has a market capitalization of $897.50 million, a PE ratio of 9.38 and a beta of 0.65.
Heritage Financial Company Profile (NASDAQ:HFWA)
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.
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