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Heritage Financial Corp. (HFWA)
NASDAQ:HFWA
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.44Last Year’s EPS
0.16Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 25, 2018
|% Change Since: 4.47%
|Next Earnings Date:Jul 25, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mixed performance with strong loan growth and net interest margin improvement as positives. However, these were balanced by challenges such as a decrease in deposits, investment losses, and an increase in criticized loans, leading to a cautious outlook.Company Guidance
During the HFWA Q4 2024 earnings call, the executives provided comprehensive guidance, highlighting several key financial metrics. Jennifer Nino, the Chief Accounting Officer, reported a strong loan growth of $123 million, although yields on the loan portfolio slightly decreased to 5.53% due to a 100 basis point reduction in the Fed funds rate. Deposit levels remained relatively flat, with a $24 million decrease largely attributed to a $25 million reduction in brokered CDs, yet the cost of interest-bearing deposits decreased to 1.98%. Investment balances decreased by $104.5 million, partly due to a strategic loss trade yielding an estimated annualized pretax income improvement of $1.4 million. Moreover, the net interest margin improved to 3.39%, and the provision for credit losses was $1.2 million, driven mainly by loan growth. Noninterest expense saw a modest increase of $250,000, while capital ratios stayed robust with a TCE ratio of 9.0%. The company also repurchased 165,000 shares at a cost of $4.3 million, with 990,000 shares still available for repurchase.Strong Loan Growth
Loan balances increased by $123 million during Q4, with a 10.8% growth for the full year 2024. This growth was driven by new production across the footprint and moderate prepay and payoff levels.
Net Interest Margin Improvement
Net interest margin increased to 3.39% in Q4 from 3.33% in Q3, with an expectation of further expansion in upcoming quarters.
Stable Credit Quality
Nonaccrual loans totaled just over $4 million at year-end, representing 0.08% of total loans, showing stability in credit quality over the past years.
Successful Stock Buyback Program
Repurchased 165,000 shares at a total cost of $4.3 million during Q4, with 990,000 shares still available for repurchase.
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HFWA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HFWA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 23, 2025 | $24.60 | $24.85 | +1.02% |
| Oct 24, 2024 | $21.66 | $22.14 | +2.22% |
| Jul 25, 2024 | $21.36 | $22.51 | +5.38% |
| Apr 25, 2024 | $18.02 | $17.50 | -2.89% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Heritage Financial Corp. (HFWA) report earnings?
Heritage Financial Corp. (HFWA) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is Heritage Financial Corp. (HFWA) earnings time?
Heritage Financial Corp. (HFWA) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HFWA EPS forecast?
HFWA EPS forecast for the fiscal quarter 2025 (Q1) is 0.44.
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