Zacks: Analysts Expect Heritage Financial Corp (NASDAQ:HFWA) to Post $0.50 EPS

Equities research analysts expect Heritage Financial Corp (NASDAQ:HFWA) to post earnings per share of $0.50 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Heritage Financial’s earnings. The highest EPS estimate is $0.52 and the lowest is $0.49. Heritage Financial posted earnings per share of $0.35 in the same quarter last year, which suggests a positive year-over-year growth rate of 42.9%. The company is scheduled to issue its next quarterly earnings report on Wednesday, July 24th.

According to Zacks, analysts expect that Heritage Financial will report full year earnings of $1.99 per share for the current fiscal year, with EPS estimates ranging from $1.93 to $2.07. For the next year, analysts anticipate that the company will post earnings of $2.16 per share, with EPS estimates ranging from $2.08 to $2.26. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Heritage Financial.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.04). The firm had revenue of $57.22 million for the quarter, compared to analyst estimates of $59.73 million. Heritage Financial had a return on equity of 8.77% and a net margin of 25.04%.

A number of research analysts recently commented on the stock. Zacks Investment Research lowered shares of Heritage Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Stephens assumed coverage on shares of Heritage Financial in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $36.00 price target on the stock. BidaskClub upgraded shares of Heritage Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 4th. Finally, Sandler O’Neill lowered shares of Heritage Financial from a “buy” rating to a “hold” rating and decreased their price target for the company from $34.00 to $32.00 in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Heritage Financial has an average rating of “Hold” and a consensus target price of $34.00.

In other Heritage Financial news, Director Lisa Banner sold 976 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $29.25, for a total transaction of $28,548.00. Following the transaction, the director now owns 731 shares in the company, valued at approximately $21,381.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Brian L. Vance sold 3,885 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $30.74, for a total transaction of $119,424.90. Following the transaction, the director now owns 101,011 shares in the company, valued at approximately $3,105,078.14. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Vista Capital Partners Inc. bought a new stake in shares of Heritage Financial during the 1st quarter worth approximately $879,000. United Services Automobile Association lifted its holdings in shares of Heritage Financial by 14.2% during the 4th quarter. United Services Automobile Association now owns 9,481 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 1,181 shares during the period. Texas Permanent School Fund lifted its holdings in shares of Heritage Financial by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 22,537 shares of the financial services provider’s stock worth $679,000 after acquiring an additional 821 shares during the period. Rhumbline Advisers lifted its holdings in shares of Heritage Financial by 21.7% during the 4th quarter. Rhumbline Advisers now owns 109,321 shares of the financial services provider’s stock worth $3,249,000 after acquiring an additional 19,481 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Heritage Financial by 12.0% during the 4th quarter. Geode Capital Management LLC now owns 382,935 shares of the financial services provider’s stock worth $11,380,000 after acquiring an additional 41,164 shares during the period. Hedge funds and other institutional investors own 81.34% of the company’s stock.

Heritage Financial stock opened at $29.19 on Friday. Heritage Financial has a fifty-two week low of $27.81 and a fifty-two week high of $37.40. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 2.08 and a beta of 0.74. The business’s 50-day moving average price is $29.62. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06.

Heritage Financial Company Profile

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to businesses and individuals in the United States. The company accepts various deposit products, such as noninterest demand accounts, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.

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Earnings History and Estimates for Heritage Financial (NASDAQ:HFWA)

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