$0.47 Earnings Per Share Expected for Heritage Financial Corp (NASDAQ:HFWA) This Quarter

Equities research analysts expect Heritage Financial Corp (NASDAQ:HFWA) to report $0.47 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Heritage Financial’s earnings. Heritage Financial reported earnings per share of $0.49 during the same quarter last year, which would indicate a negative year over year growth rate of 4.1%. The company is expected to issue its next earnings report on Thursday, October 24th.

On average, analysts expect that Heritage Financial will report full year earnings of $1.85 per share for the current year, with EPS estimates ranging from $1.83 to $1.93. For the next financial year, analysts expect that the business will post earnings of $2.03 per share, with EPS estimates ranging from $1.95 to $2.11. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Heritage Financial.

Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.07). Heritage Financial had a return on equity of 8.86% and a net margin of 25.83%. The business had revenue of $58.10 million for the quarter, compared to analysts’ expectations of $59.73 million.

Several brokerages have recently commented on HFWA. ValuEngine lowered Heritage Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. BidaskClub lowered Heritage Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. Zacks Investment Research raised Heritage Financial from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Janney Montgomery Scott lowered Heritage Financial from a “buy” rating to a “neutral” rating in a report on Friday, July 26th. Finally, Sandler O’Neill lowered Heritage Financial from a “buy” rating to a “hold” rating and cut their price objective for the stock from $34.00 to $32.00 in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $34.00.

Shares of NASDAQ HFWA traded down $0.01 during midday trading on Tuesday, hitting $27.28. 185,125 shares of the company’s stock were exchanged, compared to its average volume of 167,567. Heritage Financial has a 12-month low of $26.00 and a 12-month high of $37.40. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.01 billion, a P/E ratio of 15.50, a price-to-earnings-growth ratio of 2.10 and a beta of 0.72. The firm has a fifty day moving average price of $28.80.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.76 annualized dividend and a yield of 2.79%. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.18. Heritage Financial’s dividend payout ratio is currently 43.18%.

In other Heritage Financial news, Director Lisa Banner sold 976 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $29.25, for a total value of $28,548.00. Following the completion of the sale, the director now owns 731 shares of the company’s stock, valued at $21,381.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of HFWA. OppenheimerFunds Inc. boosted its stake in Heritage Financial by 33.6% in the first quarter. OppenheimerFunds Inc. now owns 537,593 shares of the financial services provider’s stock worth $16,202,000 after buying an additional 135,264 shares in the last quarter. Jennison Associates LLC boosted its stake in Heritage Financial by 31.1% in the first quarter. Jennison Associates LLC now owns 509,441 shares of the financial services provider’s stock worth $15,355,000 after buying an additional 120,869 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Heritage Financial by 55.6% in the second quarter. Wells Fargo & Company MN now owns 333,559 shares of the financial services provider’s stock worth $9,853,000 after buying an additional 119,188 shares in the last quarter. Millennium Management LLC boosted its stake in Heritage Financial by 64.5% in the fourth quarter. Millennium Management LLC now owns 213,281 shares of the financial services provider’s stock worth $6,339,000 after buying an additional 83,648 shares in the last quarter. Finally, Context BH Capital Management LP purchased a new stake in Heritage Financial in the first quarter worth approximately $1,264,000. 81.25% of the stock is owned by institutional investors and hedge funds.

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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