DA Davidson Weighs in on Heritage Financial Corp’s FY2019 Earnings (HFWA)

Heritage Financial Corp (NASDAQ:HFWA) – Stock analysts at DA Davidson reduced their FY2019 EPS estimates for Heritage Financial in a research note issued on Friday, April 26th, according to Zacks Investment Research. DA Davidson analyst J. Rulis now anticipates that the financial services provider will post earnings per share of $2.00 for the year, down from their previous forecast of $2.05.

Heritage Financial (NASDAQ:HFWA) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.04). The business had revenue of $57.22 million for the quarter, compared to the consensus estimate of $59.73 million. Heritage Financial had a return on equity of 8.77% and a net margin of 25.04%.

Other research analysts have also recently issued reports about the stock. Stephens reissued a “hold” rating and issued a $36.00 price objective on shares of Heritage Financial in a research note on Thursday, March 21st. Zacks Investment Research cut shares of Heritage Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. BidaskClub cut shares of Heritage Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, March 22nd. Finally, Sandler O’Neill cut shares of Heritage Financial from a “buy” rating to a “hold” rating and decreased their price objective for the company from $34.00 to $32.00 in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $34.00.

Shares of NASDAQ:HFWA opened at $30.19 on Monday. The company has a market capitalization of $1.11 billion, a P/E ratio of 17.15, a PEG ratio of 2.13 and a beta of 0.70. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. Heritage Financial has a 1 year low of $27.98 and a 1 year high of $37.40.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a $0.18 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.72 dividend on an annualized basis and a yield of 2.38%. Heritage Financial’s dividend payout ratio is currently 40.91%.

In other Heritage Financial news, Director Brian L. Vance sold 13,621 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $31.53, for a total value of $429,470.13. Following the sale, the director now owns 115,630 shares in the company, valued at $3,645,813.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian L. Vance sold 3,885 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $30.74, for a total transaction of $119,424.90. Following the completion of the sale, the director now owns 101,011 shares in the company, valued at approximately $3,105,078.14. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Several large investors have recently modified their holdings of the company. SEI Investments Co lifted its holdings in shares of Heritage Financial by 28.8% during the first quarter. SEI Investments Co now owns 22,159 shares of the financial services provider’s stock worth $668,000 after purchasing an additional 4,951 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Heritage Financial by 0.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,116,669 shares of the financial services provider’s stock worth $33,656,000 after purchasing an additional 3,270 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Heritage Financial by 10.5% during the first quarter. Geode Capital Management LLC now owns 423,062 shares of the financial services provider’s stock worth $12,751,000 after purchasing an additional 40,127 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Heritage Financial by 6.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 196,996 shares of the financial services provider’s stock worth $5,938,000 after purchasing an additional 11,576 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Heritage Financial by 86.1% during the first quarter. Fifth Third Bancorp now owns 1,329 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 615 shares during the period. Institutional investors own 81.83% 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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Earnings History and Estimates for Heritage Financial (NASDAQ:HFWA)

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