Heritage Financial Corp (NASDAQ:HFWA) – Stock analysts at FIG Partners dropped their FY2018 earnings per share estimates for shares of Heritage Financial in a research note issued on Monday. FIG Partners analyst T. Coffey now forecasts that the financial services provider will post earnings of $1.61 per share for the year, down from their previous estimate of $1.77. FIG Partners has a “Outperform” rating on the stock. FIG Partners also issued estimates for Heritage Financial’s Q1 2019 earnings at $0.53 EPS, Q2 2019 earnings at $0.54 EPS, Q3 2019 earnings at $0.57 EPS, Q4 2019 earnings at $0.59 EPS and FY2019 earnings at $2.23 EPS.
Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. Heritage Financial had a net margin of 21.16% and a return on equity of 8.86%. The business had revenue of $46.22 million during the quarter, compared to analyst estimates of $43.74 million.
Shares of Heritage Financial (NASDAQ:HFWA) opened at $32.15 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.22. Heritage Financial has a 1 year low of $22.50 and a 1 year high of $33.25. The firm has a market cap of $1,095.23, a P/E ratio of 25.12, a P/E/G ratio of 1.77 and a beta of 0.52.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, February 7th were issued a $0.15 dividend. 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 1.87%. The ex-dividend date was Tuesday, February 6th. Heritage Financial’s payout ratio is 46.88%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in Heritage Financial by 4.8% in the 4th quarter. BlackRock Inc. now owns 2,128,041 shares of the financial services provider’s stock worth $65,545,000 after buying an additional 96,950 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Heritage Financial by 6.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,725,844 shares of the financial services provider’s stock valued at $50,913,000 after purchasing an additional 106,130 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Heritage Financial by 0.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 978,324 shares of the financial services provider’s stock valued at $30,133,000 after purchasing an additional 8,011 shares during the period. Alliancebernstein L.P. boosted its stake in Heritage Financial by 598.1% in the 4th quarter. Alliancebernstein L.P. now owns 853,510 shares of the financial services provider’s stock valued at $26,288,000 after buying an additional 731,242 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Heritage Financial by 6.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 740,098 shares of the financial services provider’s stock worth $22,795,000 after purchasing an additional 43,168 shares in the last quarter. 70.94% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: “FY2018 Earnings Forecast for Heritage Financial Corp Issued By FIG Partners (HFWA)” was reported by American Banking News and is the sole property of of American Banking News. If you are reading this report on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this report can be read at https://www.americanbankingnews.com/2018/03/14/fy2018-earnings-forecast-for-heritage-financial-corp-issued-by-fig-partners-hfwa.html.
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.
Receive News & Ratings for Heritage Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heritage Financial and related companies with MarketBeat.com's FREE daily email newsletter.