Heritage Financial (NASDAQ:HFWA) Posts Earnings Results, Beats Estimates By $0.06 EPS

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

Heritage Financial Price Performance

Shares of HFWA opened at $24.63 on Thursday. The business has a 50-day moving average of $25.16 and a 200-day moving average of $23.14. Heritage Financial has a 1 year low of $16.55 and a 1 year high of $27.58. The company has a market capitalization of $840.94 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

HFWA has been the topic of several recent research reports. Stephens raised their price objective on Heritage Financial from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Piper Sandler lifted their target price 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.00.

Insider Buying and Selling at Heritage Financial

In other Heritage Financial news, EVP Tony Chalfant sold 2,975 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 20,119 shares of the company’s stock, valued at approximately $533,153.50. This represents a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% 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 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.