$56.40 Million in Sales Expected for Heritage Financial Co. (NASDAQ:HFWA) This Quarter

Analysts predict that Heritage Financial Co. (NASDAQ:HFWAGet Rating) will report $56.40 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Heritage Financial’s earnings, with the highest sales estimate coming in at $57.00 million and the lowest estimate coming in at $55.60 million. Heritage Financial posted sales of $62.56 million during the same quarter last year, which would indicate a negative year over year growth rate of 9.8%. The business is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Heritage Financial will report full year sales of $229.30 million for the current year, with estimates ranging from $225.90 million to $233.60 million. For the next fiscal year, analysts anticipate that the business will post sales of $253.37 million, with estimates ranging from $246.60 million to $261.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Heritage Financial.

Heritage Financial (NASDAQ:HFWAGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.17. Heritage Financial had a net margin of 38.18% and a return on equity of 10.94%. The company had revenue of $55.48 million during the quarter, compared to analyst estimates of $53.70 million. During the same quarter in the previous year, the business earned $0.70 EPS.

Several brokerages have recently issued reports on HFWA. Zacks Investment Research raised shares of Heritage Financial from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Tuesday, April 26th. StockNews.com initiated coverage on shares of Heritage Financial in a research report on Thursday, March 31st. They issued a “hold” rating on the stock.

Large investors have recently modified their holdings of the business. Lazard Asset Management LLC acquired a new position in Heritage Financial in the 4th quarter valued at about $29,000. Captrust Financial Advisors grew its stake in Heritage Financial by 75.6% in the 1st quarter. Captrust Financial Advisors now owns 2,471 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,064 shares during the last quarter. McIlrath & Eck LLC grew its stake in Heritage Financial by 52.5% in the 3rd quarter. McIlrath & Eck LLC now owns 2,589 shares of the financial services provider’s stock valued at $66,000 after buying an additional 891 shares during the last quarter. KBC Group NV acquired a new position in Heritage Financial in the 3rd quarter valued at about $98,000. Finally, Quantbot Technologies LP grew its stake in Heritage Financial by 25.6% in the 1st quarter. Quantbot Technologies LP now owns 4,900 shares of the financial services provider’s stock valued at $122,000 after buying an additional 1,000 shares during the last quarter. 77.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of HFWA stock opened at $24.74 on Thursday. Heritage Financial has a 12-month low of $20.95 and a 12-month high of $29.81. The firm has a market capitalization of $868.42 million, a price-to-earnings ratio of 9.55 and a beta of 0.63. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average of $25.04 and a 200-day moving average of $25.06.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 18th. Shareholders of record on Wednesday, May 4th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, May 3rd. This represents a $0.84 annualized dividend and a yield of 3.40%. Heritage Financial’s dividend payout ratio (DPR) is presently 32.43%.

Heritage Financial Company Profile (Get Rating)

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to small and medium sized businesses and individuals in the United States. The company accepts various deposit products, such as noninterest demand deposits, 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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