$0.41 EPS Expected for Heritage Financial Corp (HFWA) This Quarter
Wall Street analysts expect Heritage Financial Corp (NASDAQ:HFWA) to announce earnings per share of $0.41 for the current fiscal quarter, Zacks reports. Three analysts have issued 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 per share of $0.31 in the same quarter last year, which would suggest a positive year over year growth rate of 32.3%. The company is expected to announce 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 fiscal year, with EPS estimates ranging from $1.77 to $1.85. For the next fiscal year, analysts forecast that the business will post earnings of $2.04 per share, with EPS estimates ranging from $1.95 to $2.15. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for 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 the consensus estimate 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 net margin of 21.16% and a return on equity of 8.90%.
In other Heritage Financial news, Director John A. Clees sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $30.01, for a total value of $30,010.00. Following the transaction, the director now directly owns 47,042 shares in the company, valued at approximately $1,411,730.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Charneski sold 2,000 shares of the company’s 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 owns 29,602 shares in the company, valued at $940,751.56. The disclosure for this sale can be found here. Insiders sold a total of 4,000 shares of company stock worth $124,640 over the last 90 days. Insiders own 2.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of HFWA. SG Americas Securities LLC bought a new position in shares of Heritage Financial during the third quarter valued at approximately $131,000. Susquehanna International Group LLP bought a new position in shares of Heritage Financial during the second quarter valued at approximately $226,000. Macquarie Group Ltd. bought a new position in shares of Heritage Financial during the third quarter valued at approximately $289,000. Teacher Retirement System of Texas bought a new position in shares of Heritage Financial during the fourth quarter valued at approximately $314,000. Finally, Principal Financial Group Inc. bought a new position in shares of Heritage Financial during the second quarter valued at approximately $274,000. Institutional investors and hedge funds own 68.48% of the company’s stock.
Shares of Heritage Financial (NASDAQ HFWA) traded up $0.50 during trading hours on Monday, reaching $29.30. 229,000 shares of the company traded hands, compared to its average volume of 178,652. The company has a market cap of $997.42, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. Heritage Financial has a one year low of $22.50 and a one year high of $33.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.85 and a quick ratio of 0.85.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 21st. Shareholders of record on Wednesday, February 7th will be paid a $0.15 dividend. 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 yield of 2.05%. The ex-dividend date is Tuesday, February 6th. Heritage Financial’s dividend payout ratio is currently 46.88%.
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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.
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