Q3 2017 EPS Estimates for Heritage Financial Corporation (NASDAQ:HFWA) Increased by Analyst

Heritage Financial Corporation (NASDAQ:HFWA) – Research analysts at DA Davidson increased their Q3 2017 earnings estimates for Heritage Financial Corporation in a research note issued on Wednesday. DA Davidson analyst J. Rulis now forecasts that the financial services provider will earn $0.36 per share for the quarter, up from their previous forecast of $0.33. DA Davidson also issued estimates for Heritage Financial Corporation’s Q4 2017 earnings at $0.36 EPS, FY2017 earnings at $1.42 EPS and FY2018 earnings at $1.51 EPS.

A number of other brokerages have also weighed in on HFWA. ValuEngine raised Heritage Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research lowered Heritage Financial Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $25.00 target price on shares of Heritage Financial Corporation in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $27.00 target price on shares of Heritage Financial Corporation in a research report on Friday, June 2nd. Finally, BidaskClub lowered Heritage Financial Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Heritage Financial Corporation currently has an average rating of “Hold” and a consensus price target of $27.33.

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Shares of Heritage Financial Corporation (HFWA) opened at 27.20 on Monday. The stock has a 50 day moving average of $26.25 and a 200-day moving average of $25.23. Heritage Financial Corporation has a 12-month low of $16.89 and a 12-month high of $27.70. The firm has a market capitalization of $809.36 million, a P/E ratio of 19.43 and a beta of 0.47.

Heritage Financial Corporation (NASDAQ:HFWA) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.07. Heritage Financial Corporation had a net margin of 23.81% and a return on equity of 8.60%. The company had revenue of $44.84 million for the quarter, compared to the consensus estimate of $41.59 million.

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Heritage Financial Corporation by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,508,816 shares of the financial services provider’s stock worth $37,343,000 after buying an additional 103,521 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Heritage Financial Corporation by 6.1% in the first quarter. Vanguard Group Inc. now owns 1,215,131 shares of the financial services provider’s stock worth $30,074,000 after buying an additional 69,982 shares during the last quarter. State Street Corp raised its position in shares of Heritage Financial Corporation by 14.6% in the fourth quarter. State Street Corp now owns 576,051 shares of the financial services provider’s stock worth $14,832,000 after buying an additional 73,531 shares during the last quarter. Thomson Horstmann & Bryant Inc. raised its position in shares of Heritage Financial Corporation by 12.0% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 547,680 shares of the financial services provider’s stock worth $13,555,000 after buying an additional 58,840 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Heritage Financial Corporation by 345.5% in the first quarter. JPMorgan Chase & Co. now owns 477,322 shares of the financial services provider’s stock worth $11,814,000 after buying an additional 370,180 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors.

In other news, Director John A. Clees sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $27.28, for a total transaction of $54,560.00. Following the transaction, the director now directly owns 49,042 shares of the company’s stock, valued at $1,337,865.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by corporate insiders.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Tuesday, August 8th. Heritage Financial Corporation’s payout ratio is 37.14%.

About Heritage Financial Corporation

Heritage Financial Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its bank subsidiary, Heritage Bank (the Bank). The Bank’s lending activities focus on commercial business lending. The Bank also originates consumer loans, real estate construction and land development loans, and one- to four-family residential loans.

Earnings History and Estimates for Heritage Financial Corporation (NASDAQ:HFWA)

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