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Heritage Financial (HFWA) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2024, Heritage Financial (HFWA - Free Report) reported revenue of $54.8 million, down 11.5% over the same period last year. EPS came in at $0.33, compared to $0.51 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $58.17 million, representing a surprise of -5.80%. The company delivered an EPS surprise of -21.43%, with the consensus EPS estimate being $0.42.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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 3.3% estimated by three analysts on average.
- Efficiency Ratio: 71.7% versus 68.5% estimated by three analysts on average.
- Total Nonperforming Assets: $9.65 million versus $7.56 million estimated by two analysts on average.
- Total Nonaccrual Loans: $4.30 million compared to the $5.31 million average estimate based on two analysts.
- Average Balance - Total interest earning assets: $6.33 billion versus $6.22 billion estimated by two analysts on average.
- Net charge-offs (recoveries) on loans to average loans receivable, net: 0.2% compared to the 0.1% average estimate based on two analysts.
- Net Interest Income: $52.96 million versus the three-analyst average estimate of $50.89 million.
View all Key Company Metrics for Heritage Financial here>>>Shares of Heritage Financial have returned +2.8% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.