Brokerages predict that Heritage Financial Corp (NASDAQ:HFWA) will post $47.36 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Heritage Financial’s earnings, with the lowest sales estimate coming in at $45.78 million and the highest estimate coming in at $49.20 million. Heritage Financial posted sales of $40.50 million in the same quarter last year, which suggests a positive year-over-year growth rate of 16.9%. The firm is expected to report its next earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Heritage Financial will report full year sales of $47.36 million for the current financial year, with estimates ranging from $197.56 million to $204.90 million. For the next year, analysts anticipate that the company will report sales of $217.89 million per share, with estimates ranging from $213.00 million to $225.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Heritage Financial.
Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.06. The firm had revenue of $46.22 million during the quarter, compared to analyst estimates of $43.74 million. Heritage Financial had a return on equity of 8.90% and a net margin of 21.16%.
Heritage Financial (NASDAQ:HFWA) opened at $31.60 on Friday. The company has a market capitalization of $1,041.67, a price-to-earnings ratio of 24.69, a PEG ratio of 1.79 and a beta of 0.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.85 and a quick ratio of 0.85. Heritage Financial has a 1 year low of $22.50 and a 1 year high of $33.25.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th will be given a dividend of $0.15 per share. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 1.90%. The ex-dividend date is Tuesday, February 6th. Heritage Financial’s dividend payout ratio is currently 40.63%.
In related news, Director John A. Clees sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $30.01, for a total transaction of $30,010.00. Following the transaction, the director now directly owns 47,042 shares of the company’s stock, valued at approximately $1,411,730.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony Pickering sold 11,000 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $30.76, for a total value of $338,360.00. Following the transaction, the director now directly owns 48,085 shares in the company, 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 worth $667,583 over the last ninety days. 2.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Martin & Co. Inc. TN grew its stake in Heritage Financial by 46.2% during the 3rd quarter. Martin & Co. Inc. TN now owns 61,994 shares of the financial services provider’s stock valued at $1,829,000 after purchasing an additional 19,588 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Heritage Financial by 10.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 112,776 shares of the financial services provider’s stock valued at $2,989,000 after purchasing an additional 11,046 shares during the last quarter. TD Asset Management Inc. purchased a new stake in Heritage Financial during the 3rd quarter valued at about $732,000. The Manufacturers Life Insurance Company grew its stake in Heritage Financial by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 695,478 shares of the financial services provider’s stock valued at $18,430,000 after purchasing an additional 11,574 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in Heritage Financial by 2.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 142,845 shares of the financial services provider’s stock valued at $4,214,000 after purchasing an additional 3,435 shares during the last quarter. Institutional investors and hedge funds own 78.31% of the company’s stock.
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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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