Wall Street analysts expect Heritage Financial Corp (NASDAQ:HFWA) to announce sales of $59.73 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Heritage Financial’s earnings, with the lowest sales estimate coming in at $59.50 million and the highest estimate coming in at $60.00 million. Heritage Financial reported sales of $51.32 million in the same quarter last year, which indicates a positive year-over-year growth rate of 16.4%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, July 25th.
On average, analysts expect that Heritage Financial will report full year sales of $239.54 million for the current fiscal year, with estimates ranging from $238.40 million to $241.00 million. For the next financial year, analysts anticipate that the company will post sales of $253.75 million, with estimates ranging from $252.40 million to $255.80 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Heritage Financial.
Heritage Financial (NASDAQ:HFWA) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.04). The company had revenue of $57.22 million during 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 topic of a number of analyst reports. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Sandler O’Neill cut Heritage Financial from a “buy” rating to a “hold” rating and lowered their price target for the company from $34.00 to $32.00 in a research report on Friday, April 26th. Zacks Investment Research cut Farmland Partners from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. Finally, BidaskClub cut Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $34.00.
NASDAQ:HFWA traded down $0.38 during trading hours on Wednesday, reaching $28.43. The company had a trading volume of 144,813 shares, compared to its average volume of 116,790. The business has a 50-day simple moving average of $29.34. Heritage Financial has a one year low of $27.81 and a one year high of $37.40. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 2.07 and a beta of 0.73. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.06.
In other Heritage Financial news, Director Brian L. Vance sold 3,885 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $30.74, for a total value of $119,424.90. Following the completion of the sale, the director now directly owns 101,011 shares in the company, valued at $3,105,078.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lisa Banner sold 976 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $29.25, for a total value of $28,548.00. Following the completion of the sale, the director now owns 731 shares of the company’s stock, valued at $21,381.75. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the business. Clearbridge Investments LLC lifted its position in shares of Heritage Financial by 54.9% in the first quarter. Clearbridge Investments LLC now owns 1,907 shares of the financial services provider’s stock valued at $57,000 after buying an additional 676 shares during the last quarter. Vista Capital Partners Inc. acquired a new stake in Heritage Financial during the 1st quarter worth approximately $879,000. United Services Automobile Association lifted its holdings in Heritage Financial by 14.2% during the 4th quarter. United Services Automobile Association now owns 9,481 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 1,181 shares during the last quarter. Texas Permanent School Fund lifted its holdings in Heritage Financial by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 22,537 shares of the financial services provider’s stock worth $679,000 after purchasing an additional 821 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Heritage Financial by 12.0% during the 4th quarter. Geode Capital Management LLC now owns 382,935 shares of the financial services provider’s stock worth $11,380,000 after purchasing an additional 41,164 shares during the last quarter. Institutional investors own 81.31% of the company’s stock.
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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