Heritage Financial Corp (HFWA) Expected to Announce Quarterly Sales of $43.74 Million

Equities analysts expect Heritage Financial Corp (NASDAQ:HFWA) to report sales of $43.74 million for the current quarter, Zacks reports. Three analysts have made estimates for Heritage Financial’s earnings, with the highest sales estimate coming in at $44.00 million and the lowest estimate coming in at $43.50 million. Heritage Financial posted sales of $41.24 million in the same quarter last year, which suggests a positive year over year growth rate of 6.1%. The company is expected to issue its next earnings report before the market opens on Thursday, January 25th.

On average, analysts expect that Heritage Financial will report full-year sales of $43.74 million for the current year, with estimates ranging from $172.20 million to $172.70 million. For the next financial year, analysts anticipate that the business will post sales of $200.85 million per share, with estimates ranging from $197.56 million to $204.90 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Heritage Financial.

Heritage Financial (NASDAQ:HFWA) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.35 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Heritage Financial had a return on equity of 8.42% and a net margin of 23.48%. The company had revenue of $43.39 million during the quarter, compared to analyst estimates of $42.85 million.

Several research analysts have recently commented on HFWA shares. FIG Partners raised Heritage Financial from a “market-perform” rating to an “outperform” rating in a report on Tuesday, December 12th. DA Davidson boosted their price objective on Heritage Financial from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, November 7th. BidaskClub lowered Heritage Financial from a “buy” rating to a “hold” rating in a report on Saturday, December 16th. Zacks Investment Research raised Heritage Financial from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Monday, October 30th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $33.00 price objective on shares of Heritage Financial in a report on Friday, December 22nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $34.25.

In other Heritage Financial news, Director Anthony Pickering sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $30.76, for a total value of $338,360.00. Following the completion of the sale, the director now owns 48,085 shares of the company’s stock, valued at $1,479,094.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Donald Hinson sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $31.22, for a total value of $31,220.00. Following the completion of the sale, the chief financial officer now directly owns 33,288 shares of the company’s stock, valued at approximately $1,039,251.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,636 shares of company stock valued at $667,583. 2.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Martin & Co. Inc. TN boosted its stake in Heritage Financial by 46.2% in the third quarter. Martin & Co. Inc. TN now owns 61,994 shares of the financial services provider’s stock worth $1,829,000 after buying an additional 19,588 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in Heritage Financial by 10.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 112,776 shares of the financial services provider’s stock valued at $2,989,000 after purchasing an additional 11,046 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Heritage Financial by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 695,478 shares of the financial services provider’s stock valued at $18,430,000 after purchasing an additional 11,574 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in Heritage Financial by 2.5% in the third quarter. Mutual of America Capital Management LLC now owns 142,845 shares of the financial services provider’s stock valued at $4,214,000 after purchasing an additional 3,435 shares during the last quarter. Finally, TD Asset Management Inc. bought a new stake in Heritage Financial in the third quarter valued at approximately $732,000. 78.13% of the stock is owned by institutional investors and hedge funds.

Shares of Heritage Financial (NASDAQ HFWA) traded up $0.10 during midday trading on Thursday, hitting $31.80. The stock had a trading volume of 115,658 shares, compared to its average volume of 117,362. Heritage Financial has a 52 week low of $22.50 and a 52 week high of $33.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $951.74, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.86 and a beta of 0.47.

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Heritage Financial Company Profile

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

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