Heritage Financial (NASDAQ:HFWA) Announces Earnings Results, Beats Expectations By $0.06 EPS

Heritage Financial (NASDAQ:HFWA) posted its quarterly earnings data on Thursday. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06, Zacks reports. Heritage Financial had a return on equity of 7.01% and a net margin of 12.27%.

Heritage Financial Trading Down 2.3 %

HFWA opened at $24.14 on Thursday. The firm has a 50 day simple moving average of $25.16 and a 200 day simple moving average of $23.14. Heritage Financial has a fifty-two week low of $16.55 and a fifty-two week high of $27.58. The company has a market cap of $824.21 million, a price-to-earnings ratio of 22.80 and a beta of 0.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.82 and a quick ratio of 0.82.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Piper Sandler upped their price target on shares of Heritage Financial from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Stephens upped their target price on shares of Heritage Financial from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.00.

Insider Buying and Selling at Heritage Financial

In related news, EVP Tony Chalfant sold 2,975 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.50, for a total transaction of $78,837.50. Following the completion of the transaction, the executive vice president now owns 20,119 shares in the company, valued at approximately $533,153.50. The trade was a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% 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 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.