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

Heritage Financial (NASDAQ:HFWA) issued its quarterly earnings data 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 return on equity of 7.01% and a net margin of 12.27%.

Heritage Financial Stock Down 2.3 %

Heritage Financial stock opened at $24.14 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. Heritage Financial has a 1-year low of $16.55 and a 1-year high of $27.58. The company has a fifty day simple moving average of $25.16 and a 200 day simple moving average of $23.14. The company has a market cap of $824.21 million, a P/E ratio of 22.80 and a beta of 0.57.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HFWA. Piper Sandler upped their price target on shares of Heritage Financial from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Stephens increased their target price on 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 issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.00.

Insiders Place Their Bets

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 stock was sold at an average price of $26.50, for a total transaction of $78,837.50. Following 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.80% of the company’s stock.

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.