Analysts Anticipate Heritage Financial Co. (HFWA) Will Announce Earnings of $0.41 Per Share

Brokerages expect that Heritage Financial Co. (NASDAQ:HFWA) will announce earnings of $0.41 per share for the current quarter, Zacks reports. Three analysts have made 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 posted earnings of $0.31 per share in the same quarter last year, which suggests a positive year over year growth rate of 32.3%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that Heritage Financial will report full-year earnings of $1.78 per share for the current fiscal year, with EPS estimates ranging from $1.61 to $1.86. For the next fiscal year, analysts forecast that the business will report earnings of $2.12 per share, with EPS estimates ranging from $2.03 to $2.23. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Heritage Financial.

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Heritage Financial (NASDAQ:HFWA) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $46.22 million during the quarter, compared to the consensus estimate of $43.74 million. Heritage Financial had a return on equity of 8.86% and a net margin of 21.16%.

HFWA has been the topic of several recent research reports. ValuEngine raised Heritage Financial from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. BidaskClub raised Heritage Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd. Sandler O’Neill reaffirmed a “buy” rating and issued a $36.00 price target on shares of Heritage Financial in a research note on Friday, January 26th. Piper Jaffray reaffirmed a “hold” rating and issued a $33.00 price target on shares of Heritage Financial in a research note on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $33.00 price target on shares of Heritage Financial in a research note on Friday, December 22nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Heritage Financial currently has a consensus rating of “Buy” and a consensus price target of $34.60.

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Heritage Financial in the third quarter worth $131,000. Macquarie Group Ltd. purchased a new stake in shares of Heritage Financial in the third quarter worth $289,000. Teacher Retirement System of Texas purchased a new stake in shares of Heritage Financial in the fourth quarter worth $314,000. MetLife Investment Advisors LLC purchased a new stake in shares of Heritage Financial in the fourth quarter worth $389,000. Finally, First Quadrant L P CA purchased a new stake in shares of Heritage Financial in the fourth quarter worth $633,000. 70.94% of the stock is currently owned by institutional investors.

Shares of Heritage Financial stock traded up $0.20 during midday trading on Wednesday, reaching $30.15. 6,064 shares of the company’s stock traded hands, compared to its average volume of 211,884. The company has a market cap of $1,018.70, a PE ratio of 20.37, a P/E/G ratio of 1.68 and a beta of 0.49. Heritage Financial has a 12 month low of $23.00 and a 12 month high of $33.25. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.22.

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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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