Wall Street analysts expect Heritage Financial Corp (NASDAQ:HFWA) to report $58.33 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Heritage Financial’s earnings. The lowest sales estimate is $57.50 million and the highest is $58.80 million. Heritage Financial reported sales of $59.73 million during the same quarter last year, which indicates a negative year-over-year growth rate of 2.3%. The firm is expected to issue its next earnings results on Thursday, January 23rd.
According to Zacks, analysts expect that Heritage Financial will report full year sales of $232.23 million for the current year, with estimates ranging from $231.50 million to $232.90 million. For the next financial year, analysts anticipate that the company will report sales of $234.73 million, with estimates ranging from $232.30 million to $237.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Heritage Financial.
Heritage Financial (NASDAQ:HFWA) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The company had revenue of $58.70 million for the quarter, compared to analyst estimates of $59.04 million. Heritage Financial had a return on equity of 8.67% and a net margin of 26.72%.
HFWA has been the subject of a number of recent research reports. Stephens restated a “hold” rating and set a $29.00 target price on shares of Heritage Financial in a research report on Thursday, October 24th. ValuEngine upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Zacks Investment Research upgraded Heritage Financial from a “sell” rating to a “hold” rating in a research report on Friday. Janney Montgomery Scott downgraded Heritage Financial from a “buy” rating to a “neutral” rating in a research report on Friday, July 26th. Finally, BidaskClub upgraded Heritage Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 19th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $31.67.
In related news, Director Brian L. Vance sold 2,274 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $26.82, for a total value of $60,988.68. Following the completion of the sale, the director now owns 98,737 shares in the company, valued at $2,648,126.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Bryan Mcdonald sold 4,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $26.67, for a total value of $106,680.00. Following the completion of the sale, the chief operating officer now owns 11,119 shares of the company’s stock, valued at approximately $296,543.73. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its holdings in Heritage Financial by 119.1% in the second quarter. Nisa Investment Advisors LLC now owns 1,205 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 655 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Heritage Financial in the third quarter valued at about $134,000. Capital Fund Management S.A. bought a new stake in Heritage Financial in the second quarter valued at about $219,000. Marshall Wace North America L.P. bought a new stake in shares of Heritage Financial in the second quarter worth about $296,000. Finally, Mason Street Advisors LLC increased its holdings in shares of Heritage Financial by 13.0% in the third quarter. Mason Street Advisors LLC now owns 12,523 shares of the financial services provider’s stock worth $338,000 after acquiring an additional 1,438 shares in the last quarter. Institutional investors and hedge funds own 80.67% of the company’s stock.
HFWA stock traded up $0.14 during trading on Thursday, hitting $28.91. The company had a trading volume of 105,600 shares, compared to its average volume of 135,027. The company has a market cap of $1.06 billion, a P/E ratio of 16.43 and a beta of 0.72. Heritage Financial has a fifty-two week low of $25.24 and a fifty-two week high of $35.63. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average price of $27.18 and a two-hundred day moving average price of $28.31.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.63%. Heritage Financial’s payout ratio is currently 43.18%.
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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