Heritage Financial Corp (NASDAQ:HFWA) Expected to Post Earnings of $0.46 Per Share

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Analysts predict that Heritage Financial Corp (NASDAQ:HFWA) will announce $0.46 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for Heritage Financial’s earnings, with estimates ranging from $0.45 to $0.47. Heritage Financial posted earnings per share of $0.47 in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.1%. The firm is expected to announce its next earnings report on Thursday, January 23rd.

On average, analysts expect that Heritage Financial will report full year earnings of $1.82 per share for the current fiscal year, with EPS estimates ranging from $1.80 to $1.83. For the next financial year, analysts forecast that the business will report earnings of $1.77 per share, with EPS estimates ranging from $1.68 to $1.90. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Heritage Financial.

Heritage Financial (NASDAQ:HFWA) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. Heritage Financial had a net margin of 26.72% and a return on equity of 8.67%. The business had revenue of $58.70 million for the quarter, compared to analyst estimates of $59.04 million.

Several research analysts have recently weighed in on the stock. ValuEngine raised shares of Heritage Financial from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Zacks Investment Research upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. BidaskClub lowered Heritage Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Stephens reaffirmed a “hold” rating and issued a $29.00 price target on shares of Heritage Financial in a report on Thursday, October 24th. Finally, DA Davidson cut shares of Heritage Financial from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $31.67.

Shares of NASDAQ:HFWA opened at $27.03 on Thursday. The firm has a fifty day moving average price of $27.73 and a two-hundred day moving average price of $27.97. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 15.36 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.84 and a quick ratio of 0.84. Heritage Financial has a one year low of $25.24 and a one year high of $35.63.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Wednesday, November 6th. Heritage Financial’s dividend payout ratio (DPR) is currently 43.18%.

In related news, Director Brian L. Vance sold 2,274 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $26.82, for a total transaction of $60,988.68. Following the transaction, the director now directly owns 98,737 shares of the company’s stock, valued at approximately $2,648,126.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Bryan Mcdonald sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $26.67, for a total value of $106,680.00. Following the completion of the sale, the chief operating officer now owns 11,119 shares of the company’s stock, valued at approximately $296,543.73. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC raised its stake in shares of Heritage Financial by 119.1% during the second quarter. Nisa Investment Advisors LLC now owns 1,205 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 655 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Heritage Financial in the 3rd quarter valued at $134,000. Capital Fund Management S.A. bought a new position in shares of Heritage Financial during the 2nd quarter valued at $219,000. Marshall Wace North America L.P. bought a new position in shares of Heritage Financial during the 2nd quarter valued at $296,000. Finally, Metropolitan Life Insurance Co NY raised its position in Heritage Financial by 4.2% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 11,611 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 473 shares during the period. Institutional investors and hedge funds own 80.19% of the company’s stock.

About Heritage Financial

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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