Zacks: Analysts Expect Heritage Financial Corp (HFWA) Will Post Earnings of $0.50 Per Share

Brokerages expect Heritage Financial Corp (NASDAQ:HFWA) to announce $0.50 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Heritage Financial’s earnings, with estimates ranging from $0.48 to $0.51. Heritage Financial posted earnings of $0.42 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 19%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, January 24th.

On average, analysts expect that Heritage Financial will report full-year earnings of $1.78 per share for the current fiscal year. For the next year, analysts expect that the firm will post earnings of $2.12 per share, with EPS estimates ranging from $2.05 to $2.17. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Heritage Financial.

Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The business had revenue of $59.18 million during the quarter, compared to analyst estimates of $57.63 million. Heritage Financial had a net margin of 20.10% and a return on equity of 8.92%.

Several research analysts recently issued reports on HFWA shares. Zacks Investment Research upgraded shares of Heritage Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, November 20th. BidaskClub lowered shares of Heritage Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, December 21st. Finally, ValuEngine lowered shares of Heritage Financial from a “buy” rating to a “hold” rating in a research note on Thursday, December 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $37.33.

Shares of Heritage Financial stock remained flat at $$30.64 during trading on Friday. 138,947 shares of the company traded hands, compared to its average volume of 134,231. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 2.10 and a beta of 0.74. Heritage Financial has a 52 week low of $27.98 and a 52 week high of $37.40.

In related news, Director Lisa Banner sold 1,326 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $33.44, for a total transaction of $44,341.44. Following the sale, the director now directly owns 2,387 shares of the company’s stock, valued at approximately $79,821.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian L. Vance sold 5,000 shares of the stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $34.49, for a total transaction of $172,450.00. Following the sale, the director now directly owns 128,313 shares in the company, valued at $4,425,515.37. The disclosure for this sale can be found here. Insiders have sold a total of 11,326 shares of company stock worth $390,491 over the last three months. 1.80% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in HFWA. BlackRock Inc. grew its position in Heritage Financial by 111.0% during the 2nd quarter. BlackRock Inc. now owns 4,415,298 shares of the financial services provider’s stock valued at $153,872,000 after purchasing an additional 2,322,856 shares during the last quarter. Bank of New York Mellon Corp grew its position in Heritage Financial by 26.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 800,900 shares of the financial services provider’s stock valued at $27,912,000 after purchasing an additional 166,844 shares during the last quarter. Matarin Capital Management LLC purchased a new stake in Heritage Financial during the 3rd quarter valued at about $3,745,000. Vanguard Group Inc boosted its holdings in shares of Heritage Financial by 4.8% during the 3rd quarter. Vanguard Group Inc now owns 1,896,237 shares of the financial services provider’s stock valued at $66,652,000 after acquiring an additional 86,143 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Heritage Financial by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,896,237 shares of the financial services provider’s stock valued at $66,652,000 after acquiring an additional 86,143 shares during the last quarter. 84.02% of the stock is currently owned by institutional investors.

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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