Zacks: Analysts Expect Heritage Financial Corp (HFWA) Will Announce Earnings of $0.41 Per Share

Wall Street brokerages expect Heritage Financial Corp (NASDAQ:HFWA) to post earnings of $0.41 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Heritage Financial’s earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.45. Heritage Financial reported earnings of $0.31 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 32.3%. The firm is scheduled to report its next earnings results on Wednesday, April 25th.

According to Zacks, analysts expect that Heritage Financial will report full year earnings of $1.81 per share for the current year, with EPS estimates ranging from $1.77 to $1.85. For the next financial year, analysts anticipate that the business will report earnings of $2.04 per share, with EPS estimates ranging from $1.95 to $2.15. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Heritage Financial.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. Heritage Financial had a return on equity of 8.90% and a net margin of 21.16%. The business had revenue of $46.22 million during the quarter, compared to the consensus estimate of $43.74 million.

HFWA has been the subject of several recent analyst reports. ValuEngine upgraded Heritage Financial from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $33.00 price target on shares of Heritage Financial in a report on Friday, December 22nd. Piper Jaffray Companies restated a “hold” rating and issued a $33.00 price target on shares of Heritage Financial in a report on Tuesday, January 9th. Zacks Investment Research upgraded Heritage Financial from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Monday, October 30th. Finally, FIG Partners upgraded Heritage Financial from a “market-perform” rating to an “outperform” rating in a report on Tuesday, December 12th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Heritage Financial has a consensus rating of “Buy” and a consensus target price of $34.60.

Shares of Heritage Financial (HFWA) traded up $0.50 during trading on Monday, hitting $29.30. The company’s stock had a trading volume of 229,000 shares, compared to its average volume of 178,652. Heritage Financial has a 12 month low of $22.50 and a 12 month high of $33.25. The company has a market capitalization of $997.42, a P/E ratio of 22.89, a P/E/G ratio of 1.62 and a beta of 0.50. 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 disclosed a quarterly dividend, which will be paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This is an increase from Heritage Financial’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.05%. Heritage Financial’s dividend payout ratio (DPR) is presently 46.88%.

In related news, Director Brian Charneski sold 2,000 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $31.78, for a total transaction of $63,560.00. Following the completion of the transaction, the director now directly owns 29,602 shares in the company, valued at $940,751.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John A. Clees sold 1,000 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $31.07, for a total value of $31,070.00. Following the transaction, the director now owns 46,042 shares of the company’s stock, valued at $1,430,524.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,000 shares of company stock valued at $124,640. 2.70% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of Heritage Financial during the third quarter worth about $131,000. Susquehanna International Group LLP bought a new position in shares of Heritage Financial during the second quarter worth about $226,000. Principal Financial Group Inc. bought a new position in shares of Heritage Financial during the second quarter worth about $274,000. Macquarie Group Ltd. bought a new position in shares of Heritage Financial during the third quarter worth about $289,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Heritage Financial during the fourth quarter worth about $314,000. Institutional investors and hedge funds own 68.48% 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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Earnings History and Estimates for Heritage Financial (NASDAQ:HFWA)

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