Analysts forecast that Heritage Financial Corp (NASDAQ:HFWA) will post sales of $47.66 million for the current quarter, Zacks reports. Three analysts have provided estimates for Heritage Financial’s earnings, with the highest sales estimate coming in at $48.60 million and the lowest estimate coming in at $47.18 million. Heritage Financial reported sales of $40.50 million in the same quarter last year, which would suggest a positive year over year growth rate of 17.7%. The firm is expected to report its next quarterly earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Heritage Financial will report full year sales of $47.66 million for the current year, with estimates ranging from $195.10 million to $202.90 million. For the next financial year, analysts forecast that the firm will post sales of $212.92 million per share, with estimates ranging from $206.40 million to $219.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Heritage Financial.
Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings results 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 net margin of 21.16% and a return on equity of 8.90%. The business had revenue of $46.22 million for the quarter, compared to analysts’ expectations of $43.74 million.
In other news, Director Brian Charneski sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $31.78, for a total value of $63,560.00. Following the transaction, the director now owns 29,602 shares in the company, valued at $940,751.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Clees sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $31.07, for a total transaction of $31,070.00. Following the completion of the transaction, the director now owns 46,042 shares in the company, valued at approximately $1,430,524.94. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC grew its holdings in shares of Heritage Financial by 2.3% in the second quarter. Parametric Portfolio Associates LLC now owns 42,284 shares of the financial services provider’s stock worth $1,121,000 after purchasing an additional 949 shares during the last quarter. Voya Investment Management LLC lifted its stake in Heritage Financial by 11.3% in the second quarter. Voya Investment Management LLC now owns 16,922 shares of the financial services provider’s stock worth $448,000 after acquiring an additional 1,715 shares during the period. Schroder Investment Management Group lifted its stake in Heritage Financial by 0.3% in the third quarter. Schroder Investment Management Group now owns 637,262 shares of the financial services provider’s stock worth $18,895,000 after acquiring an additional 2,050 shares during the period. New York State Common Retirement Fund lifted its stake in Heritage Financial by 5.5% in the third quarter. New York State Common Retirement Fund now owns 46,323 shares of the financial services provider’s stock worth $1,367,000 after acquiring an additional 2,408 shares during the period. Finally, California Public Employees Retirement System lifted its stake in Heritage Financial by 3.1% in the second quarter. California Public Employees Retirement System now owns 82,200 shares of the financial services provider’s stock worth $2,178,000 after acquiring an additional 2,500 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.
Heritage Financial (NASDAQ HFWA) opened at $29.60 on Wednesday. Heritage Financial has a 52-week low of $22.50 and a 52-week high of $33.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $885.90, a P/E ratio of 21.29, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Wednesday, February 7th will be issued a $0.15 dividend. This is a boost from Heritage Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.60 annualized dividend and a dividend yield of 2.03%. Heritage Financial’s dividend payout ratio (DPR) is currently 43.17%.
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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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