Heritage Financial (NASDAQ:HFWA) Posts Earnings Results, Misses Expectations By $0.09 EPS

Heritage Financial (NASDAQ:HFWA) announced its quarterly earnings results on Thursday. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09), Zacks reports. Heritage Financial had a return on equity of 7.95% and a net margin of 14.59%. The firm had revenue of $81.65 million during the quarter, compared to analysts’ expectations of $58.17 million. During the same period in the previous year, the company posted $0.51 earnings per share.

Heritage Financial Stock Down 0.1 %

HFWA stock opened at $22.34 on Friday. The business has a 50 day moving average of $21.94 and a 200 day moving average of $19.96. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.61. The firm has a market cap of $770.73 million, a PE ratio of 17.73 and a beta of 0.53. Heritage Financial has a twelve month low of $15.94 and a twelve month high of $23.82.

Heritage Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend is Wednesday, November 6th. Heritage Financial’s dividend payout ratio is presently 73.02%.

Analyst Upgrades and Downgrades

HFWA has been the subject of several research analyst reports. Piper Sandler lifted their price objective on Heritage Financial from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods raised their price target on Heritage Financial from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Heritage Financial presently has an average rating of “Hold” and an average target price of $23.50.

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.