Brokerages Expect Heritage Financial Co. (HFWA) to Announce $0.44 EPS

Wall Street brokerages expect Heritage Financial Co. (NASDAQ:HFWA) to post earnings of $0.44 per share for the current quarter, according to Zacks. Four analysts have issued estimates for Heritage Financial’s earnings, with the lowest EPS estimate coming in at $0.43 and the highest estimate coming in at $0.46. Heritage Financial reported earnings per share of $0.39 in the same quarter last year, which suggests a positive year-over-year growth rate of 12.8%. The business is scheduled to report its next quarterly earnings results on Wednesday, July 25th.

On average, analysts expect that Heritage Financial will report full year earnings of $1.78 per share for the current financial year, with EPS estimates ranging from $1.65 to $1.88. For the next fiscal year, analysts expect that the company will post earnings of $2.11 per share, with EPS estimates ranging from $2.00 to $2.23. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Heritage Financial.

Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.15). Heritage Financial had a net margin of 20.10% and a return on equity of 9.67%. The firm had revenue of $48.39 million for the quarter, compared to the consensus estimate of $47.66 million.

Several equities research analysts have recently issued reports on HFWA shares. BidaskClub raised Heritage Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd. ValuEngine raised Heritage Financial from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th. Sandler O’Neill reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Heritage Financial in a research note on Friday, January 26th. Zacks Investment Research raised Heritage Financial from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Thursday, April 26th. Finally, Keefe, Bruyette & Woods raised Heritage Financial from a “market perform” rating to an “outperform” rating in a research note on Monday, March 12th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Heritage Financial presently has an average rating of “Buy” and a consensus price target of $35.20.

In other news, insider David A. Spurling sold 1,500 shares of the stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $29.85, for a total value of $44,775.00. Following the sale, the insider now directly owns 27,255 shares in the company, valued at $813,561.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Martin & Co. Inc. TN raised its holdings in shares of Heritage Financial by 4.7% in the fourth quarter. Martin & Co. Inc. TN now owns 64,879 shares of the financial services provider’s stock worth $1,998,000 after buying an additional 2,885 shares during the period. Geode Capital Management LLC raised its holdings in shares of Heritage Financial by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 262,874 shares of the financial services provider’s stock worth $8,096,000 after buying an additional 3,226 shares during the period. Mutual of America Capital Management LLC raised its holdings in shares of Heritage Financial by 2.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 146,886 shares of the financial services provider’s stock worth $4,524,000 after buying an additional 4,041 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Heritage Financial by 6.7% in the fourth quarter. Victory Capital Management Inc. now owns 75,808 shares of the financial services provider’s stock worth $2,335,000 after buying an additional 4,788 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of Heritage Financial by 6.0% in the fourth quarter. California Public Employees Retirement System now owns 99,173 shares of the financial services provider’s stock worth $3,055,000 after buying an additional 5,582 shares during the period. Hedge funds and other institutional investors own 71.00% of the company’s stock.

Shares of Heritage Financial stock opened at $31.40 on Tuesday. Heritage Financial has a 12 month low of $31.30 and a 12 month high of $31.60. The company has a market cap of $1.08 billion, a P/E ratio of 21.22, a PEG ratio of 1.73 and a beta of 0.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.84 and a quick ratio of 0.84.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 24th. Stockholders of record on Thursday, May 10th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $0.60 annualized dividend and a dividend yield of 1.91%. Heritage Financial’s payout ratio is 40.54%.

Heritage Financial Company Profile

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to businesses and individuals in the United States. The company accepts various deposit products, such as noninterest demand accounts, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.

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Earnings History and Estimates for Heritage Financial (NASDAQ:HFWA)

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