Heritage Financial Corp (NASDAQ:HFWA) – DA Davidson boosted their Q1 2018 earnings estimates for shares of Heritage Financial in a research report issued to clients and investors on Thursday. DA Davidson analyst J. Rulis now forecasts that the financial services provider will post earnings per share of $0.43 for the quarter, up from their previous forecast of $0.35. DA Davidson currently has a “Buy” rating and a $36.00 target price on the stock. DA Davidson also issued estimates for Heritage Financial’s Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.46 EPS, Q4 2018 earnings at $0.46 EPS and FY2019 earnings at $2.00 EPS.
Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $46.22 million for the quarter, compared to the consensus estimate of $43.74 million. Heritage Financial had a return on equity of 8.90% and a net margin of 21.16%.
Heritage Financial (HFWA) opened at $31.60 on Monday. The stock has a market capitalization of $1,041.67, a PE 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 52 week low of $22.50 and a 52 week high of $33.25.
The company 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 $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.90%. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, February 6th. Heritage Financial’s payout ratio is presently 40.63%.
In related news, Director Brian Charneski sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $31.78, for a total value of $63,560.00. Following the completion of the sale, the director now directly owns 29,602 shares of the company’s stock, valued at approximately $940,751.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian L. Vance sold 5,636 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $30.76, for a total value of $173,363.36. Following the completion of the sale, the director now directly owns 142,011 shares of the company’s stock, valued at $4,368,258.36. The disclosure for this sale can be found here. Insiders sold a total of 10,636 shares of company stock valued at $329,223 over the last ninety days. 2.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Heritage Financial in the 3rd quarter valued at about $131,000. Legal & General Group Plc increased its position in 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 valued at $195,000 after buying an additional 297 shares in the last quarter. Susquehanna International Group LLP bought a new stake in Heritage Financial in the 2nd quarter valued at about $226,000. Macquarie Group Ltd. bought a new stake in Heritage Financial in the 3rd quarter valued at about $289,000. Finally, Principal Financial Group Inc. bought a new stake in Heritage Financial in the 2nd quarter valued at about $274,000. 78.31% of the stock is owned by institutional investors and hedge funds.
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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