Heritage Financial (HFWA) Set to Announce Earnings on Thursday

Heritage Financial (NASDAQ:HFWA) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.41 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Heritage Financial (NASDAQ:HFWA) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Heritage Financial had a net margin of 20.37% and a return on equity of 8.66%. The firm had revenue of $50.72 million during the quarter, compared to analyst estimates of $62.00 million. On average, analysts expect Heritage Financial to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Heritage Financial Price Performance

NASDAQ HFWA opened at $17.34 on Thursday. Heritage Financial has a 52 week low of $14.85 and a 52 week high of $22.55. The firm has a market capitalization of $600.92 million, a P/E ratio of 9.91 and a beta of 0.54. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $18.42 and a 200-day moving average price of $18.66.

Heritage Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 5.31%. This is a positive change from Heritage Financial’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 7th. Heritage Financial’s dividend payout ratio is currently 52.57%.

Institutional Investors Weigh In On Heritage Financial

A number of institutional investors have recently added to or reduced their stakes in HFWA. Quarry LP grew its holdings in Heritage Financial by 829.4% during the 1st quarter. Quarry LP now owns 1,803 shares of the financial services provider’s stock valued at $39,000 after buying an additional 1,609 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in Heritage Financial during the 4th quarter valued at approximately $42,000. Tower Research Capital LLC TRC grew its holdings in Heritage Financial by 34.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,749 shares of the financial services provider’s stock valued at $59,000 after buying an additional 703 shares in the last quarter. Captrust Financial Advisors grew its holdings in Heritage Financial by 75.6% during 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 in the last quarter. Finally, Point72 Middle East FZE purchased a new stake in Heritage Financial during the 4th quarter valued at approximately $69,000. 78.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HFWA shares. StockNews.com raised shares of Heritage Financial from a “sell” rating to a “hold” rating in a report on Friday, January 26th. DA Davidson reduced their target price on shares of Heritage Financial from $24.00 to $23.00 and set a “buy” rating for the company in a report on Friday, January 26th. Keefe, Bruyette & Woods reduced their target price on shares of Heritage Financial from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Friday, January 26th. Finally, Stephens reissued an “equal weight” rating and issued a $22.00 target price on shares of Heritage Financial in a report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.25.

Heritage Financial Company Profile

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. It 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.