Brokerages expect that Heritage Financial Corp (NASDAQ:HFWA) will report $59.73 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Heritage Financial’s earnings, with the lowest sales estimate coming in at $59.50 million and the highest estimate coming in at $60.00 million. Heritage Financial reported sales of $51.32 million during the same quarter last year, which would indicate a positive year over year growth rate of 16.4%. The business is expected to announce its next earnings report on Wednesday, July 24th.

According to Zacks, analysts expect that Heritage Financial will report full-year sales of $239.59 million for the current year, with estimates ranging from $238.60 million to $241.00 million. For the next financial year, analysts anticipate that the firm will report sales of $253.87 million, with estimates ranging from $252.40 million to $255.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Heritage Financial.

Heritage Financial (NASDAQ:HFWA) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.04). Heritage Financial had a net margin of 25.04% and a return on equity of 8.77%. The firm had revenue of $57.22 million during the quarter, compared to analyst estimates of $59.73 million.

Several analysts have issued reports on HFWA shares. Zacks Investment Research downgraded shares of Heritage Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Stephens assumed coverage on shares of Heritage Financial in a report on Wednesday, March 6th. They set an “equal weight” rating and a $36.00 price target for the company. BidaskClub raised shares of Heritage Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 4th. Finally, Sandler O’Neill lowered shares of Heritage Financial from a “buy” rating to a “hold” rating and dropped their price target for the stock from $34.00 to $32.00 in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Heritage Financial has a consensus rating of “Hold” and an average target price of $34.00.

In other news, Director Brian L. Vance sold 13,621 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $31.53, for a total transaction of $429,470.13. Following the sale, the director now directly owns 115,630 shares of the company’s stock, valued at $3,645,813.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian L. Vance sold 3,885 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $30.74, for a total transaction of $119,424.90. Following the sale, the director now directly owns 101,011 shares in the company, valued at $3,105,078.14. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in HFWA. Quantamental Technologies LLC bought a new stake in shares of Heritage Financial during the fourth quarter valued at approximately $30,000. PNC Financial Services Group Inc. grew its stake in shares of Heritage Financial by 601.7% during 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 purchasing an additional 1,053 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Heritage Financial by 86.1% during the first quarter. Fifth Third Bancorp now owns 1,329 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 615 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of Heritage Financial during the fourth quarter valued at approximately $206,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Heritage Financial by 69,063.6% during the first quarter. BNP Paribas Arbitrage SA now owns 7,608 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 7,597 shares during the last quarter. 81.83% of the stock is currently owned by institutional investors and hedge funds.

HFWA stock traded down $0.26 during midday trading on Wednesday, reaching $30.19. The company had a trading volume of 66,239 shares, compared to its average volume of 114,878. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.11 billion, a P/E ratio of 17.15, a PEG ratio of 2.13 and a beta of 0.70. Heritage Financial has a fifty-two week low of $27.98 and a fifty-two week high of $37.40.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.72 annualized dividend and a yield of 2.38%. Heritage Financial’s dividend payout ratio 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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Earnings History and Estimates for Heritage Financial (NASDAQ:HFWA)

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