Heritage Financial (NASDAQ:HFWA) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Heritage Financial (NASDAQ:HFWA) released its quarterly earnings results on Thursday. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.01, Fidelity Earnings reports. Heritage Financial had a return on equity of 8.53% and a net margin of 26.99%. The company had revenue of $58.13 million during the quarter, compared to analysts’ expectations of $58.33 million.

Shares of HFWA stock opened at $26.84 on Friday. The stock has a 50-day simple moving average of $27.91 and a 200 day simple moving average of $27.56. Heritage Financial has a fifty-two week low of $25.24 and a fifty-two week high of $33.22. The stock has a market capitalization of $1.01 billion, a P/E ratio of 14.67 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 0.03.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.80 annualized dividend and a yield of 2.98%. This is a boost from Heritage Financial’s previous quarterly dividend of $0.19. Heritage Financial’s dividend payout ratio (DPR) is currently 41.53%.

HFWA has been the subject of several recent analyst reports. Stephens reissued a “hold” rating and issued a $29.00 price target on shares of Heritage Financial in a research note on Thursday, October 24th. BidaskClub cut Heritage Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 31st. Zacks Investment Research raised Heritage Financial from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Monday, January 13th. Finally, DA Davidson cut Heritage Financial from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Heritage Financial currently has an average rating of “Hold” and a consensus target price of $30.67.

In related news, insider David A. Spurling sold 8,661 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $27.47, for a total transaction of $237,917.67. Following the completion of the transaction, the insider now owns 20,299 shares of the company’s stock, valued at $557,613.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.60% of the company’s stock.

Heritage Financial Company Profile

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 for Heritage Financial (NASDAQ:HFWA)

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