FY2017 EPS Estimates for Heritage Financial Corporation Raised by FIG Partners (HFWA)

Heritage Financial Corporation (NASDAQ:HFWA) – Research analysts at FIG Partners lifted their FY2017 EPS estimates for shares of Heritage Financial Corporation in a research note issued on Saturday. FIG Partners analyst T. Coffey now expects that the financial services provider will post earnings of $1.40 per share for the year, up from their prior estimate of $1.39. FIG Partners also issued estimates for Heritage Financial Corporation’s Q2 2019 earnings at $0.45 EPS and Q3 2019 earnings at $0.46 EPS.

Heritage Financial Corporation (NASDAQ:HFWA) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Heritage Financial Corporation had a net margin of 23.48% and a return on equity of 8.50%. The business had revenue of $43.39 million during the quarter, compared to the consensus estimate of $42.85 million.

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Several other brokerages have also issued reports on HFWA. Zacks Investment Research upgraded shares of Heritage Financial Corporation from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Monday. Piper Jaffray Companies set a $29.00 target price on shares of Heritage Financial Corporation and gave the company a “hold” rating in a research report on Monday, August 14th. BidaskClub lowered shares of Heritage Financial Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, ValuEngine upgraded shares of Heritage Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Heritage Financial Corporation has an average rating of “Hold” and a consensus price target of $30.33.

Heritage Financial Corporation (NASDAQ HFWA) opened at 30.60 on Tuesday. The company has a market cap of $911.27 million, a P/E ratio of 21.86 and a beta of 0.49. The firm’s 50 day moving average is $29.21 and its 200 day moving average is $26.69. Heritage Financial Corporation has a 12-month low of $17.75 and a 12-month high of $31.25.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MUFG Americas Holdings Corp grew its position in shares of Heritage Financial Corporation by 1.2% in the second quarter. MUFG Americas Holdings Corp now owns 3,952 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 45 shares during the period. Alps Advisors Inc. grew its position in shares of Heritage Financial Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 20,120 shares of the financial services provider’s stock valued at $533,000 after purchasing an additional 52 shares during the period. Legal & General Group Plc grew its position in shares of Heritage Financial Corporation by 4.2% in the second quarter. Legal & General Group Plc now owns 7,369 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 297 shares during the period. Pinnacle Associates Ltd. grew its position in shares of Heritage Financial Corporation by 2.9% in the second quarter. Pinnacle Associates Ltd. now owns 10,600 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 300 shares during the period. Finally, PDT Partners LLC grew its position in shares of Heritage Financial Corporation by 2.1% in the second quarter. PDT Partners LLC now owns 19,290 shares of the financial services provider’s stock valued at $511,000 after purchasing an additional 390 shares during the period. Institutional investors and hedge funds own 75.54% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th will be given a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, November 7th. This represents a $0.52 annualized dividend and a dividend yield of 1.70%. Heritage Financial Corporation’s dividend payout ratio (DPR) is 37.68%.

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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