Equities research analysts expect Heritage Financial Co. (NASDAQ:HFWA) to post earnings of $0.44 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Heritage Financial’s earnings, with the highest EPS estimate coming in at $0.46 and the lowest estimate coming in at $0.43. Heritage Financial reported earnings of $0.39 per share in the same quarter last year, which indicates a positive year over year growth rate of 12.8%. The firm is expected to announce its next earnings report on Wednesday, July 25th.
On average, analysts expect that Heritage Financial will report full-year earnings of $1.78 per share for the current fiscal year, with EPS estimates ranging from $1.65 to $1.88. For the next year, analysts forecast that the business will post earnings of $2.11 per share, with EPS estimates ranging from $2.00 to $2.23. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Heritage Financial.
Heritage Financial (NASDAQ:HFWA) last issued its earnings results on Thursday, April 26th. The financial services provider reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.15). The business had revenue of $48.39 million for the quarter, compared to the consensus estimate of $47.66 million. Heritage Financial had a return on equity of 9.67% and a net margin of 20.10%.
A number of research firms recently commented on HFWA. ValuEngine lowered shares of Heritage Financial from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. BidaskClub lowered shares of Heritage Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 28th. Zacks Investment Research lowered shares of Heritage Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Piper Jaffray raised shares of Heritage Financial from a “neutral” rating to an “overweight” rating and set a $35.00 price objective for the company in a research note on Wednesday, May 2nd. Finally, Sandler O’Neill reaffirmed a “buy” rating and issued a $35.50 price objective on shares of Heritage Financial in a research note on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Heritage Financial presently has an average rating of “Buy” and a consensus price target of $35.20.
NASDAQ:HFWA traded up $0.55 during trading hours on Tuesday, reaching $31.70. 77,628 shares of the company’s stock were exchanged, compared to its average volume of 193,980. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 1.69 and a beta of 0.51. Heritage Financial has a 12 month low of $23.00 and a 12 month high of $33.25. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.84 and a current ratio of 0.84.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 24th. Investors of record on Thursday, May 10th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Wednesday, May 9th. Heritage Financial’s dividend payout ratio is 40.54%.
In related news, insider David A. Spurling sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $29.85, for a total value of $44,775.00. Following the completion of the transaction, the insider now owns 27,255 shares of the company’s stock, valued at approximately $813,561.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.
Several large investors have recently modified their holdings of the business. Engineers Gate Manager LP acquired a new stake in shares of Heritage Financial during the 1st quarter valued at $446,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Heritage Financial by 8.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 145,375 shares of the financial services provider’s stock valued at $4,449,000 after buying an additional 11,907 shares during the period. Eaton Vance Management acquired a new stake in shares of Heritage Financial during the 1st quarter valued at $719,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Heritage Financial during the 1st quarter valued at $467,000. Finally, Swiss National Bank boosted its stake in shares of Heritage Financial by 20.3% during the 1st quarter. Swiss National Bank now owns 59,368 shares of the financial services provider’s stock valued at $1,817,000 after buying an additional 10,000 shares during the period. 71.00% of the stock is owned by institutional investors.
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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