Analysts expect that Heritage Financial Corp (NASDAQ:HFWA) will announce earnings of $0.50 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Heritage Financial’s earnings, with the lowest EPS estimate coming in at $0.49 and the highest estimate coming in at $0.52. Heritage Financial reported earnings of $0.35 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 42.9%. The company is expected 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 $2.01 per share for the current fiscal year, with EPS estimates ranging from $1.97 to $2.07. For the next fiscal year, analysts forecast that the business will report earnings of $2.19 per share, with EPS estimates ranging from $2.15 to $2.26. Zacks’ EPS averages are an average based on a survey of research firms that follow Heritage Financial.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.04). The company 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%.

HFWA has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Heritage Financial from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Wednesday, March 27th. Stephens initiated coverage on Heritage Financial in a report on Wednesday, March 6th. They issued an “equal weight” rating and a $36.00 price objective for the company. Finally, Sandler O’Neill downgraded Heritage Financial from a “buy” rating to a “hold” rating and decreased their price objective for the company from $34.00 to $32.00 in a report on Friday, April 26th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Heritage Financial has an average rating of “Hold” and an average price target of $34.00.

In related news, Director Brian L. Vance sold 3,885 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $30.74, for a total value of $119,424.90. Following the transaction, the director now owns 101,011 shares of the company’s stock, valued at approximately $3,105,078.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brian L. Vance sold 13,621 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $31.53, for a total transaction of $429,470.13. Following the completion of the transaction, the director now directly owns 115,630 shares in the company, valued at approximately $3,645,813.90. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mason Street Advisors LLC lifted its position in Heritage Financial by 3.4% in the 1st quarter. Mason Street Advisors LLC now owns 10,660 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 354 shares in the last quarter. D.A. Davidson & CO. lifted its position in Heritage Financial by 3.5% in the 4th quarter. D.A. Davidson & CO. now owns 13,287 shares of the financial services provider’s stock valued at $395,000 after acquiring an additional 454 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Heritage Financial by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 23,113 shares of the financial services provider’s stock valued at $687,000 after acquiring an additional 508 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its position in Heritage Financial by 6.6% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 8,482 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 526 shares in the last quarter. Finally, Comerica Bank lifted its position in Heritage Financial by 0.5% in the 1st quarter. Comerica Bank now owns 114,699 shares of the financial services provider’s stock valued at $3,537,000 after acquiring an additional 591 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Heritage Financial stock traded down $0.78 during midday trading on Monday, hitting $30.10. 131,296 shares of the company were exchanged, compared to its average volume of 115,719. The firm has a market capitalization of $1.14 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 2.17 and a beta of 0.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.84 and a current ratio of 0.84. Heritage Financial has a fifty-two week low of $27.98 and a fifty-two week high of $37.40.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.39%. Heritage Financial’s dividend payout ratio (DPR) is presently 40.91%.

About Heritage Financial

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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