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Heritage Financial (HFWA) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2024, Heritage Financial (HFWA - Free Report) reported revenue of $56.36 million, down 10.7% over the same period last year. EPS came in at $0.45, compared to $0.48 in the year-ago quarter.
The reported revenue represents a surprise of -3.27% over the Zacks Consensus Estimate of $58.27 million. With the consensus EPS estimate being $0.41, the EPS surprise was +9.76%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Heritage Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 3.3% versus the three-analyst average estimate of 3.3%.
Efficiency Ratio: 69.4% compared to the 68.5% average estimate based on three analysts.
Total Nonaccrual Loans: $3.83 million versus $7.59 million estimated by two analysts on average.
Average Balance - Total interest earning assets: $6.24 billion versus $6.22 billion estimated by two analysts on average.
Total Nonperforming Assets: $8.12 million versus $8.89 million estimated by two analysts on average.
Total Noninterest Income: $5.25 million compared to the $7.15 million average estimate based on three analysts.
Net Interest Income: $51.11 million compared to the $51.05 million average estimate based on three analysts.
Shares of Heritage Financial have returned +27% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Heritage Financial (HFWA) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2024, Heritage Financial (HFWA - Free Report) reported revenue of $56.36 million, down 10.7% over the same period last year. EPS came in at $0.45, compared to $0.48 in the year-ago quarter.
The reported revenue represents a surprise of -3.27% over the Zacks Consensus Estimate of $58.27 million. With the consensus EPS estimate being $0.41, the EPS surprise was +9.76%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Heritage Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 3.3% versus the three-analyst average estimate of 3.3%.
- Efficiency Ratio: 69.4% compared to the 68.5% average estimate based on three analysts.
- Total Nonaccrual Loans: $3.83 million versus $7.59 million estimated by two analysts on average.
- Average Balance - Total interest earning assets: $6.24 billion versus $6.22 billion estimated by two analysts on average.
- Total Nonperforming Assets: $8.12 million versus $8.89 million estimated by two analysts on average.
- Total Noninterest Income: $5.25 million compared to the $7.15 million average estimate based on three analysts.
- Net Interest Income: $51.11 million compared to the $51.05 million average estimate based on three analysts.
View all Key Company Metrics for Heritage Financial here>>>Shares of Heritage Financial have returned +27% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.