Heritage Financial Corp (HFWA) Expected to Post Earnings of $0.41 Per Share
Equities analysts expect that Heritage Financial Corp (NASDAQ:HFWA) will report $0.41 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Heritage Financial’s earnings, with estimates ranging from $0.32 to $0.45. Heritage Financial reported earnings of $0.31 per share during the same quarter last year, which indicates a positive year over year growth rate of 32.3%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, April 25th.
On average, analysts expect that Heritage Financial will report full year earnings of $1.81 per share for the current year, with EPS estimates ranging from $1.77 to $1.85. For the next year, analysts expect that the company will report earnings of $2.04 per share, with EPS estimates ranging from $1.95 to $2.15. Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow Heritage Financial.
Heritage Financial (NASDAQ:HFWA) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.06. The business had revenue of $46.22 million during the quarter, compared to the consensus estimate of $43.74 million. Heritage Financial had a net margin of 21.16% and a return on equity of 8.90%.
Shares of Heritage Financial (NASDAQ HFWA) traded up $0.70 during trading on Monday, reaching $31.40. 191,636 shares of the company’s stock were exchanged, compared to its average volume of 204,057. The company has a market capitalization of $1,045.08, a P/E ratio of 24.53, a PEG ratio of 1.70 and a beta of 0.50. 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 also recently declared a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th will be paid a dividend of $0.15 per share. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, February 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.91%. Heritage Financial’s payout ratio is presently 46.88%.
In other news, Director Brian Charneski sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $31.78, for a total transaction of $63,560.00. Following the sale, the director now owns 29,602 shares in the company, valued at $940,751.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Clees sold 1,000 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $31.07, for a total value of $31,070.00. Following the sale, the director now owns 46,042 shares in the company, valued at approximately $1,430,524.94. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC grew its stake in shares of Heritage Financial by 2.3% during the second quarter. Parametric Portfolio Associates LLC now owns 42,284 shares of the financial services provider’s stock worth $1,121,000 after acquiring an additional 949 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Heritage Financial by 11.3% during the second quarter. Voya Investment Management LLC now owns 16,922 shares of the financial services provider’s stock worth $448,000 after acquiring an additional 1,715 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Heritage Financial by 0.3% during the third quarter. Schroder Investment Management Group now owns 637,262 shares of the financial services provider’s stock worth $18,895,000 after acquiring an additional 2,050 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Heritage Financial by 5.5% during the third quarter. New York State Common Retirement Fund now owns 46,323 shares of the financial services provider’s stock worth $1,367,000 after acquiring an additional 2,408 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Heritage Financial by 3.1% during the second quarter. California Public Employees Retirement System now owns 82,200 shares of the financial services provider’s stock worth $2,178,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.
Heritage Financial Company Profile
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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