Heritage Financial (NASDAQ:HFWA) Posts Earnings Results, Beats Estimates By $0.01 EPS

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Heritage Financial (NASDAQ:HFWA) posted its earnings results on Thursday, October 25th. The financial services provider reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.01, Fidelity Earnings reports. Heritage Financial had a net margin of 20.10% and a return on equity of 8.92%. The company had revenue of $59.18 million during the quarter, compared to analysts’ expectations of $57.63 million.

NASDAQ HFWA opened at $34.18 on Friday. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 2.73 and a beta of 0.55. Heritage Financial has a 12-month low of $28.46 and a 12-month high of $37.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, November 7th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.99%. This is a boost from Heritage Financial’s previous quarterly dividend of $0.15. Heritage Financial’s dividend payout ratio (DPR) is currently 45.95%.

HFWA has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Heritage Financial from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. BidaskClub cut shares of Heritage Financial from a “buy” rating to a “hold” rating in a research report on Friday, September 14th. ValuEngine cut shares of Heritage Financial from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Finally, Keefe, Bruyette & Woods cut shares of Heritage Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, July 26th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $36.25.

In other news, Director John A. Clees sold 1,000 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $36.26, for a total value of $36,260.00. Following the sale, the director now owns 45,209 shares in the company, valued at $1,639,278.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lisa Banner sold 1,326 shares of the stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $33.44, for a total transaction of $44,341.44. Following the completion of the sale, the director now owns 2,387 shares in the company, valued at approximately $79,821.28. The disclosure for this sale can be found here. Insiders sold 2,941 shares of company stock worth $103,141 in the last quarter. Company insiders own 2.70% of the company’s stock.

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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 for Heritage Financial (NASDAQ:HFWA)

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