Wall Street brokerages expect Heritage Financial Co. (NASDAQ:HFWA) to post sales of $59.30 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Heritage Financial's earnings, with the lowest sales estimate coming in at $58.50 million and the highest estimate coming in at $60.20 million. Heritage Financial reported sales of $58.13 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, January 28th.
On average, analysts expect that Heritage Financial will report full-year sales of $233.27 million for the current financial year, with estimates ranging from $232.90 million to $233.70 million. For the next fiscal year, analysts forecast that the company will post sales of $221.30 million, with estimates ranging from $214.50 million to $228.10 million. Zacks' sales calculations are a mean average based on a survey of sell-side research firms that cover Heritage Financial.
Heritage Financial (NASDAQ:HFWA) last posted its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.38 by $0.08. Heritage Financial had a return on equity of 4.97% and a net margin of 16.02%. The firm had revenue of $57.89 million during the quarter, compared to analyst estimates of $61.07 million.
HFWA has been the subject of a number of analyst reports. Zacks Investment Research cut Heritage Financial from a "hold" rating to a "strong sell" rating in a report on Wednesday, December 30th. TheStreet raised Heritage Financial from a "c+" rating to a "b" rating in a report on Monday, November 9th.
HFWA opened at $25.87 on Friday. Heritage Financial has a fifty-two week low of $14.65 and a fifty-two week high of $28.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.89 and a quick ratio of 0.89. The firm's fifty day moving average price is $23.86 and its two-hundred day moving average price is $21.25. The company has a market capitalization of $928.99 million, a P/E ratio of 23.73 and a beta of 0.78.
In related news, Director Brian L. Vance sold 4,516 shares of Heritage Financial stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $23.79, for a total value of $107,435.64. Following the completion of the transaction, the director now directly owns 104,564 shares of the company's stock, valued at $2,487,577.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company's stock.
A number of hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC bought a new position in Heritage Financial during the third quarter valued at approximately $39,000. Marshall & Sullivan Inc. WA bought a new position in Heritage Financial in the third quarter valued at about $113,000. Freestone Capital Holdings LLC bought a new position in Heritage Financial in the third quarter valued at about $127,000. BNP Paribas Arbitrage SA raised its position in Heritage Financial by 341.7% in the third quarter. BNP Paribas Arbitrage SA now owns 9,262 shares of the financial services provider's stock valued at $170,000 after purchasing an additional 7,165 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Heritage Financial in the third quarter valued at about $189,000. Hedge funds and other institutional investors own 80.75% 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 deposits, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit.
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