Heritage Financial (NASDAQ:HFWA) Releases Quarterly Earnings Results, Beats Expectations 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 (EPS) for the quarter, beating the consensus estimate 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 Stock Performance

Heritage Financial stock opened at $24.85 on Friday. The firm’s 50 day simple moving average is $25.13 and its 200 day simple moving average is $23.15. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $848.63 million, a PE ratio of 23.01 and a beta of 0.57. Heritage Financial has a 1-year low of $16.55 and a 1-year high of $27.58.

Insider Buying and Selling

In other Heritage Financial 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 value of $78,837.50. Following the completion of the transaction, the executive vice president now owns 20,119 shares of the company’s stock, valued at $533,153.50. The trade was a 12.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HFWA. Piper Sandler boosted their price target on shares of Heritage Financial from $27.00 to $28.00 and gave the company 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 report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Heritage Financial currently has a consensus rating of “Hold” and an average price target of $25.00.

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.