Heritage Financial (HFWA) Set to Announce Quarterly Earnings on Thursday

Posted by Defense World Staff on Jul 13th, 2023

Heritage Financial (NASDAQ:HFWA – Get Free Report) is scheduled to issue its quarterly earnings data before the market opens on Thursday, July 20th. Analysts expect the company to announce earnings of $0.49 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Heritage Financial (NASDAQ:HFWA – Get Free Report) last announced its quarterly earnings data on Thursday, April 20th. The financial services provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.03). Heritage Financial had a net margin of 30.05% and a return on equity of 10.30%. The business had revenue of $68.10 million for the quarter, compared to the consensus estimate of $68.30 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

Shares of NASDAQ:HFWA opened at $16.87 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.49. Heritage Financial has a fifty-two week low of $14.85 and a fifty-two week high of $34.34. The firm has a 50-day simple moving average of $16.50 and a 200 day simple moving average of $22.25. The company has a market cap of $591.46 million, a PE ratio of 7.24 and a beta of 0.55.

Heritage Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Thursday, May 4th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date of this dividend was Wednesday, May 3rd. Heritage Financial’s dividend payout ratio is presently 37.77%.

Wall Street Analyst Weigh In

Several research analysts have commented on HFWA shares. Keefe, Bruyette & Woods cut shares of Heritage Financial from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $31.00 to $23.00 in a research report on Sunday, April 23rd. TheStreet cut shares of Heritage Financial from a “b-” rating to a “c+” rating in a research report on Monday, May 1st. StockNews.com started coverage on shares of Heritage Financial in a research report on Thursday, May 18th. They issued a “sell” rating for the company. Finally, Piper Sandler decreased their target price on shares of Heritage Financial from $29.00 to $25.00 in a research report on Monday, April 24th.

Insider Transactions at Heritage Financial

In related news, Director Brian Charneski purchased 5,000 shares of Heritage Financial stock in a transaction dated Thursday, May 4th. The stock was bought at an average cost of $15.88 per share, with a total value of $79,400.00. Following the purchase, the director now owns 13,675 shares in the company, valued at approximately $217,159. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other Heritage Financial news, Director Jeffrey S. Lyon bought 1,750 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The stock was acquired at an average cost of $17.36 per share, with a total value of $30,380.00. Following the completion of the purchase, the director now directly owns 40,742 shares in the company, valued at $707,281.12. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brian Charneski bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were acquired at an average cost of $15.88 per share, with a total value of $79,400.00. Following the completion of the purchase, the director now owns 13,675 shares of the company’s stock, valued at $217,159. The disclosure for this purchase can be found here. In the last three months, insiders purchased 7,350 shares of company stock valued at $119,584. Company insiders own 1.82% of the company’s stock.

Institutional Investors Weigh In On Heritage Financial

Large investors have recently made changes to their positions in the company. Quarry LP raised its holdings in shares of Heritage Financial by 829.4% during the first quarter. Quarry LP now owns 1,803 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,609 shares during the period. Coppell Advisory Solutions Corp. acquired a new stake in shares of Heritage Financial during the fourth quarter valued at approximately $42,000. Tower Research Capital LLC TRC increased its stake in Heritage Financial by 34.4% in 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 during the period. Captrust Financial Advisors increased 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 period. Finally, Point72 Middle East FZE acquired a new position in Heritage Financial in the 4th quarter valued at approximately $69,000. Institutional investors and hedge funds own 78.81% of the company’s stock.

About Heritage Financial

(Get Free Report)

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.