Wall Street analysts forecast that Heritage Financial Corp (NASDAQ:HFWA) will announce earnings of $0.50 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Heritage Financial’s earnings, with the lowest EPS estimate coming in at $0.49 and the highest estimate coming in at $0.52. Heritage Financial reported earnings of $0.35 per share in the same quarter last year, which would suggest a positive year over year growth rate of 42.9%. The business is expected to issue its next earnings results on Wednesday, July 24th.
According to Zacks, analysts expect that Heritage Financial will report full-year earnings of $2.01 per share for the current year, with EPS estimates ranging from $1.97 to $2.07. For the next financial year, analysts anticipate that the firm will post earnings of $2.19 per share, with EPS estimates ranging from $2.15 to $2.26. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Heritage Financial.
Heritage Financial (NASDAQ:HFWA) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.04). The business had revenue of $57.22 million for the quarter, compared to analysts’ expectations of $59.73 million. Heritage Financial had a return on equity of 8.77% and a net margin of 25.04%.
A number of research firms have recently commented on HFWA. Stephens restated a “hold” rating and issued a $36.00 price objective on shares of Heritage Financial in a report on Thursday, March 21st. Zacks Investment Research downgraded Heritage Financial from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. BidaskClub downgraded Heritage Financial from a “sell” rating to a “strong sell” rating in a report on Friday, March 22nd. Finally, Sandler O’Neill downgraded Heritage Financial from a “buy” rating to a “hold” rating and cut their price objective for the stock from $34.00 to $32.00 in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.00.
In other news, Director Brian L. Vance sold 13,621 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $31.53, for a total value of $429,470.13. Following the transaction, the director now directly owns 115,630 shares in the company, valued at approximately $3,645,813.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brian L. Vance sold 3,885 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $30.74, for a total value of $119,424.90. Following the completion of the transaction, the director now owns 101,011 shares in the company, valued at $3,105,078.14. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Quantamental Technologies LLC acquired a new stake in shares of Heritage Financial in the fourth quarter valued at about $30,000. PNC Financial Services Group Inc. grew its stake in shares of Heritage Financial by 601.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,228 shares of the financial services provider’s stock valued at $36,000 after buying an additional 1,053 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of Heritage Financial in the fourth quarter valued at about $206,000. BNP Paribas Arbitrage SA grew its stake in shares of Heritage Financial by 69,063.6% in the first quarter. BNP Paribas Arbitrage SA now owns 7,608 shares of the financial services provider’s stock valued at $229,000 after buying an additional 7,597 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. grew its stake in shares of Heritage Financial by 6.6% in the first quarter. Piedmont Investment Advisors Inc. now owns 8,482 shares of the financial services provider’s stock valued at $256,000 after buying an additional 526 shares in the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.
Heritage Financial stock opened at $30.64 on Monday. The stock has a market capitalization of $1.13 billion, a PE ratio of 17.41, a PEG ratio of 2.20 and a beta of 0.70. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. Heritage Financial has a 12 month low of $27.98 and a 12 month high of $37.40.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.35%. Heritage Financial’s dividend payout ratio (DPR) is 40.91%.
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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