Heritage Financial Corp (NASDAQ:HFWA) Expected to Announce Earnings of $0.46 Per Share

Analysts expect Heritage Financial Corp (NASDAQ:HFWA) to post $0.46 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Heritage Financial’s earnings, with the lowest EPS estimate coming in at $0.45 and the highest estimate coming in at $0.47. Heritage Financial reported earnings of $0.47 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 2.1%. The company is expected to issue its next earnings results on Thursday, January 23rd.

According to Zacks, analysts expect that Heritage Financial will report full-year earnings of $1.82 per share for the current fiscal year, with EPS estimates ranging from $1.81 to $1.83. For the next financial year, analysts expect that the business will post earnings of $1.81 per share, with EPS estimates ranging from $1.74 to $1.90. Zacks Investment Research’s 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, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. Heritage Financial had a net margin of 26.72% and a return on equity of 8.67%. The firm had revenue of $58.70 million for the quarter, compared to the consensus estimate of $59.04 million.

Several equities analysts have recently weighed in on HFWA shares. Zacks Investment Research raised shares of Heritage Financial from a “sell” rating to a “hold” rating in a research note on Friday. BidaskClub raised shares of Heritage Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 19th. Stephens reissued a “hold” rating and issued a $29.00 price target on shares of Heritage Financial in a research note on Thursday, October 24th. Janney Montgomery Scott downgraded shares of Heritage Financial from a “buy” rating to a “neutral” rating in a research note on Friday, July 26th. Finally, ValuEngine raised shares of Heritage Financial from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $31.67.

In related news, Director Brian L. Vance sold 2,274 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $26.82, for a total transaction of $60,988.68. Following the completion of the sale, the director now directly owns 98,737 shares in the company, valued at $2,648,126.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Bryan Mcdonald sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $26.67, for a total transaction of $106,680.00. Following the sale, the chief operating officer now owns 11,119 shares of the company’s stock, valued at $296,543.73. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC increased its position in Heritage Financial by 13.0% during the third quarter. Mason Street Advisors LLC now owns 12,523 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 1,438 shares during the last quarter. First Trust Advisors LP increased its position in shares of Heritage Financial by 75.5% during the third quarter. First Trust Advisors LP now owns 46,958 shares of the financial services provider’s stock valued at $1,266,000 after acquiring an additional 20,201 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Heritage Financial during the third quarter valued at about $134,000. Texas Permanent School Fund increased its position in shares of Heritage Financial by 11.4% during the third quarter. Texas Permanent School Fund now owns 25,103 shares of the financial services provider’s stock valued at $677,000 after acquiring an additional 2,565 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Heritage Financial by 31.6% during the third quarter. California Public Employees Retirement System now owns 75,879 shares of the financial services provider’s stock valued at $2,046,000 after acquiring an additional 18,224 shares during the last quarter. Hedge funds and other institutional investors own 80.67% of the company’s stock.

NASDAQ HFWA traded up $0.14 during mid-day trading on Tuesday, reaching $28.91. 105,600 shares of the stock were exchanged, compared to its average volume of 135,027. The business’s 50 day moving average is $27.18 and its 200-day moving average is $28.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $1.06 billion, a P/E ratio of 16.43 and a beta of 0.72. Heritage Financial has a 1 year low of $25.24 and a 1 year high of $35.63.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, November 6th. Heritage Financial’s payout ratio is currently 43.18%.

About Heritage Financial

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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