Heritage Financial (NASDAQ:HFWA) Issues Earnings Results, Beats Expectations By $0.06 EPS

Heritage Financial (NASDAQ:HFWA) announced its quarterly earnings data on Thursday. The financial services provider reported $0.51 earnings per share for the quarter, topping 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 Performance

Shares of NASDAQ:HFWA opened at $24.63 on Thursday. Heritage Financial has a fifty-two week low of $16.55 and a fifty-two week high of $27.58. The firm’s 50 day simple moving average is $25.16 and its 200 day simple moving average is $23.14. 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.

Insider Activity

In other Heritage Financial news, EVP Tony Chalfant sold 2,975 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.50, for a total value of $78,837.50. Following the transaction, the executive vice president now directly owns 20,119 shares of the company’s stock, valued at $533,153.50. This trade represents a 12.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on HFWA. Stephens boosted their price target on shares of Heritage Financial from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note 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 report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.00.

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.