Equities research analysts expect Heritage Financial Corp (NASDAQ:HFWA) to report sales of $43.74 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Heritage Financial’s earnings, with the highest sales estimate coming in at $44.00 million and the lowest estimate coming in at $43.50 million. Heritage Financial reported sales of $41.24 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.1%. The business is expected to issue its next quarterly earnings results before the market opens on Thursday, January 25th.
On average, analysts expect that Heritage Financial will report full-year sales of $43.74 million for the current fiscal year, with estimates ranging from $172.20 million to $172.70 million. For the next fiscal year, analysts anticipate that the firm will report sales of $200.85 million per share, with estimates ranging from $197.56 million to $204.90 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Heritage Financial.
Heritage Financial (NASDAQ:HFWA) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. Heritage Financial had a net margin of 23.48% and a return on equity of 8.42%. The company had revenue of $43.39 million for the quarter, compared to analyst estimates of $42.85 million.
A number of equities research analysts recently weighed in on HFWA shares. FIG Partners upgraded shares of Heritage Financial from a “market-perform” rating to an “outperform” rating in a report on Tuesday, December 12th. DA Davidson upped their target price on shares of Heritage Financial from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. BidaskClub lowered shares of Heritage Financial from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 7th. Zacks Investment Research upgraded shares of Heritage Financial from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Monday, October 30th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $33.00 target price on shares of Heritage Financial in a report on Friday, December 22nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Heritage Financial currently has an average rating of “Buy” and an average price target of $34.25.
In other Heritage Financial news, Director Anthony Pickering sold 11,000 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $30.76, for a total value of $338,360.00. Following the completion of the sale, the director now owns 48,085 shares in the company, valued at approximately $1,479,094.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John A. Clees sold 1,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $30.01, for a total transaction of $30,010.00. Following the completion of the sale, the director now owns 47,042 shares of the company’s stock, valued at approximately $1,411,730.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,636 shares of company stock valued at $667,583. Company insiders own 2.70% of the company’s stock.
Several hedge funds have recently modified their holdings of HFWA. Bank of New York Mellon Corp increased its stake in shares of Heritage Financial by 135.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 463,253 shares of the financial services provider’s stock worth $12,276,000 after purchasing an additional 266,882 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Heritage Financial by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,619,714 shares of the financial services provider’s stock worth $42,923,000 after purchasing an additional 110,898 shares during the last quarter. 361 Capital LLC purchased a new stake in shares of Heritage Financial during the 3rd quarter worth approximately $2,166,000. Chicago Equity Partners LLC purchased a new stake in shares of Heritage Financial during the 3rd quarter worth approximately $1,932,000. Finally, Thrivent Financial For Lutherans increased its stake in shares of Heritage Financial by 229.8% during the 2nd quarter. Thrivent Financial For Lutherans now owns 93,340 shares of the financial services provider’s stock worth $2,473,000 after purchasing an additional 65,040 shares during the last quarter. Institutional investors own 78.13% of the company’s stock.
Shares of Heritage Financial (NASDAQ:HFWA) opened at $31.05 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.85 and a quick ratio of 0.85. Heritage Financial has a fifty-two week low of $22.50 and a fifty-two week high of $33.25. The firm has a market cap of $929.30, a PE ratio of 22.34, a P/E/G ratio of 1.85 and a beta of 0.47.
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About Heritage Financial
Heritage Financial Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its bank subsidiary, Heritage Bank (the Bank). The Bank’s lending activities focus on commercial business lending. The Bank also originates consumer loans, real estate construction and land development loans, and one- to four-family residential loans.
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