Heritage Financial Corporation Forecasted to Earn Q3 2018 Earnings of $0.42 Per Share (HFWA)
Heritage Financial Corporation (NASDAQ:HFWA) – Equities researchers at FIG Partners increased their Q3 2018 earnings estimates for Heritage Financial in a research report issued to clients and investors on Tuesday. FIG Partners analyst T. Coffey now expects that the financial services provider will post earnings per share of $0.42 for the quarter, up from their previous estimate of $0.41. FIG Partners currently has a “Outperform” rating on the stock. FIG Partners also issued estimates for Heritage Financial’s Q4 2018 earnings at $0.46 EPS, FY2018 earnings at $1.51 EPS, Q1 2019 earnings at $0.48 EPS, Q2 2019 earnings at $0.46 EPS, Q3 2019 earnings at $0.49 EPS and FY2019 earnings at $1.93 EPS.
Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.35. Heritage Financial had a return on equity of 8.42% and a net margin of 23.48%. The company had revenue of $43.39 million during the quarter, compared to analysts’ expectations of $42.85 million.
Shares of Heritage Financial (HFWA) traded up $0.60 during mid-day trading on Wednesday, hitting $31.55. The company’s stock had a trading volume of 208,900 shares, compared to its average volume of 132,353. Heritage Financial has a twelve month low of $22.50 and a twelve month high of $33.25. The stock has a market cap of $926.31, a PE ratio of 22.43, a price-to-earnings-growth ratio of 2.18 and a beta of 0.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.27.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Wednesday, November 8th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Tuesday, November 7th. Heritage Financial’s dividend payout ratio is 37.68%.
In other Heritage Financial news, Director Anthony Pickering sold 11,000 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $30.76, for a total value of $338,360.00. Following the completion of the sale, the director now directly owns 48,085 shares in the company, valued at approximately $1,479,094.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Donald Hinson sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $31.22, for a total value of $31,220.00. Following the completion of the transaction, the chief financial officer now directly owns 33,288 shares of the company’s stock, valued at $1,039,251.36. The disclosure for this sale can be found here. Insiders sold a total of 21,636 shares of company stock valued at $667,583 over the last quarter. Company insiders own 2.70% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp raised its position in shares of Heritage Financial by 1.2% in the 2nd quarter. MUFG Americas Holdings Corp now owns 3,952 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 45 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Heritage Financial in the 3rd quarter worth $131,000. Legal & General Group Plc raised its position in shares of Heritage Financial by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 7,369 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 297 shares in the last quarter. Aperio Group LLC bought a new position in shares of Heritage Financial in the 2nd quarter worth $217,000. Finally, Susquehanna International Group LLP bought a new position in shares of Heritage Financial in the 2nd quarter worth $226,000. 78.15% of the stock is owned by hedge funds and other institutional investors.
About Heritage Financial
Heritage Financial Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its bank subsidiary, Heritage Bank (the Bank). The Bank’s lending activities focus on commercial business lending. The Bank also originates consumer loans, real estate construction and land development loans, and one- to four-family residential loans.
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