Heritage Financial Corp (HFWA) Forecasted to Post FY2018 Earnings of $1.91 Per Share
Heritage Financial Corp (NASDAQ:HFWA) – Stock analysts at FIG Partners upped their FY2018 earnings estimates for Heritage Financial in a research note issued on Wednesday. FIG Partners analyst T. Coffey now expects that the financial services provider will post earnings per share of $1.91 for the year, up from their prior forecast of $1.68. FIG Partners currently has a “Outperform” rating on the stock. FIG Partners also issued estimates for Heritage Financial’s FY2019 earnings at $2.15 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 for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. The company had revenue of $43.39 million during the quarter, compared to analyst estimates of $42.85 million. Heritage Financial had a net margin of 23.48% and a return on equity of 8.42%.
Heritage Financial (HFWA) traded up $0.15 during midday trading on Thursday, hitting $30.45. 163,200 shares of the stock traded hands, compared to its average volume of 150,550. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $906.85, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 1.89 and a beta of 0.47. Heritage Financial has a 12 month low of $22.50 and a 12 month high of $33.25.
In other news, Director Brian L. Vance sold 5,636 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $30.76, for a total transaction of $173,363.36. Following the completion of the sale, the director now owns 142,011 shares of the company’s stock, valued at approximately $4,368,258.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anthony Pickering sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $30.76, for a total transaction of $338,360.00. Following the transaction, the director now owns 48,085 shares of the company’s stock, valued at $1,479,094.60. The disclosure for this sale can be found here. Insiders have sold a total of 21,636 shares of company stock valued at $667,583 in the last ninety days. 2.70% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in HFWA. SG Americas Securities LLC acquired a new position in Heritage Financial in the 3rd quarter valued at approximately $131,000. Legal & General Group Plc increased its position in shares of Heritage Financial by 4.2% during the second quarter. Legal & General Group Plc now owns 7,369 shares of the financial services provider’s stock worth $195,000 after buying an additional 297 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of Heritage Financial during the second quarter worth $226,000. Principal Financial Group Inc. acquired a new stake in shares of Heritage Financial during the second quarter worth $274,000. Finally, Pinnacle Associates Ltd. increased its position in shares of Heritage Financial by 2.9% during the second quarter. Pinnacle Associates Ltd. now owns 10,600 shares of the financial services provider’s stock worth $281,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 78.13% of the company’s stock.
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Heritage Financial Company Profile
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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