Analysts Anticipate Heritage Financial Corp (HFWA) Will Announce Earnings of $0.49 Per Share

Wall Street analysts expect that Heritage Financial Corp (NASDAQ:HFWA) will post earnings of $0.49 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Heritage Financial’s earnings, with estimates ranging from $0.47 to $0.51. Heritage Financial reported earnings per share of $0.41 during the same quarter last year, which suggests a positive year over year growth rate of 19.5%. The firm is expected to report its next quarterly earnings results on Thursday, April 25th.

According to Zacks, analysts expect that Heritage Financial will report full-year earnings of $2.10 per share for the current year, with EPS estimates ranging from $2.05 to $2.11. For the next financial year, analysts forecast that the firm will post earnings of $2.26 per share, with EPS estimates ranging from $2.15 to $2.37. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Heritage Financial.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings data on Thursday, January 24th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). Heritage Financial had a return on equity of 8.82% and a net margin of 22.94%. The business had revenue of $59.73 million during the quarter, compared to analysts’ expectations of $59.40 million.

HFWA has been the subject of several research reports. Zacks Investment Research raised Heritage Financial from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. BidaskClub lowered Heritage Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, December 21st. Finally, Stephens initiated coverage on Heritage Financial in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $36.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $35.00.

Shares of NASDAQ:HFWA traded down $0.08 during trading on Friday, hitting $30.14. The stock had a trading volume of 120,427 shares, compared to its average volume of 111,576. Heritage Financial has a 12 month low of $27.98 and a 12 month high of $37.40. The firm has a market capitalization of $1.11 billion, a P/E ratio of 17.13, a P/E/G ratio of 2.05 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84.

In related news, CFO Donald Hinson sold 3,268 shares of the firm’s stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $31.60, for a total transaction of $103,268.80. Following the completion of the transaction, the chief financial officer now owns 30,625 shares of the company’s stock, valued at approximately $967,750. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brian L. Vance sold 13,621 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were 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 of the company’s stock, valued at approximately $3,645,813.90. The disclosure for this sale can be found here. Insiders sold a total of 17,600 shares of company stock valued at $555,221 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Quantamental Technologies LLC bought a new position in Heritage Financial during the 4th quarter valued at approximately $30,000. PNC Financial Services Group Inc. increased its position in Heritage Financial by 601.7% during the 4th 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. Teachers Retirement System of The State of Kentucky bought a new position in Heritage Financial during the 3rd quarter valued at approximately $228,000. Paloma Partners Management Co bought a new position in Heritage Financial during the 4th quarter valued at approximately $206,000. Finally, Ontario Teachers Pension Plan Board bought a new position in Heritage Financial during the 3rd quarter valued at approximately $264,000. 81.87% 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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