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Heritage Financial Earnings Calls

Q1 2025 Beat
$0.490 (6.52%)
Release date Apr 24, 2025
EPS estimate $0.460
EPS actual $0.490
EPS Surprise 6.52%
Revenue estimate 61.755M
Revenue actual 81.269M
Revenue Surprise 31.60%
Q4 2024 Beat
$0.510 (13.33%)
Release date Jan 23, 2025
EPS estimate $0.450
EPS actual $0.510
EPS Surprise 13.33%
Revenue estimate 60.2M
Revenue actual 57.053M
Revenue Surprise -5.23%
Q3 2024 Missed
$0.330 (-19.51%)
Release date Oct 24, 2024
EPS estimate $0.410
EPS actual $0.330
EPS Surprise -19.51%
Revenue estimate 58.12M
Revenue actual 54.795M
Revenue Surprise -5.72%
Q2 2024 Beat
$0.410 (2.50%)
Release date Jul 25, 2024
EPS estimate $0.400
EPS actual $0.410
EPS Surprise 2.50%
Revenue estimate 58.29M
Revenue actual 81.828M
Revenue Surprise 40.38%

Last 4 Quarters for Heritage Financial

Below you can see how HFWA performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.

Q2 2024 Beat
Release date Jul 25, 2024
Fiscal end date Jun 30, 2024
Price on release $22.98
EPS estimate $0.400
EPS actual $0.410
EPS surprise 2.50%
Date Price
Jul 19, 2024 $21.02
Jul 22, 2024 $21.47
Jul 23, 2024 $22.05
Jul 24, 2024 $21.81
Jul 25, 2024 $22.98
Jul 26, 2024 $23.12
Jul 29, 2024 $22.56
Jul 30, 2024 $23.16
Jul 31, 2024 $23.17
4 days before 9.32%
4 days after 0.83%
On release day 0.609%
Change in period 10.23%
Q3 2024 Missed
Release date Oct 24, 2024
Fiscal end date Sep 30, 2024
Price on release $22.36
EPS estimate $0.410
EPS actual $0.330
EPS surprise -19.51%
Date Price
Oct 18, 2024 $22.62
Oct 21, 2024 $21.49
Oct 22, 2024 $21.72
Oct 23, 2024 $21.87
Oct 24, 2024 $22.36
Oct 25, 2024 $22.34
Oct 28, 2024 $22.97
Oct 29, 2024 $22.99
Oct 30, 2024 $23.11
4 days before -1.15%
4 days after 3.35%
On release day -0.0894%
Change in period 2.17%
Q4 2024 Beat
Release date Jan 23, 2025
Fiscal end date Dec 31, 2024
Price on release $24.85
EPS estimate $0.450
EPS actual $0.510
EPS surprise 13.33%
Date Price
Jan 16, 2025 $24.31
Jan 17, 2025 $24.55
Jan 21, 2025 $24.71
Jan 22, 2025 $24.60
Jan 23, 2025 $24.85
Jan 24, 2025 $24.65
Jan 27, 2025 $25.55
Jan 28, 2025 $25.25
Jan 29, 2025 $25.48
4 days before 2.22%
4 days after 2.54%
On release day -0.80%
Change in period 4.81%
Q1 2025 Beat
Release date Apr 24, 2025
Fiscal end date Mar 31, 2025
Price on release $22.99
EPS estimate $0.460
EPS actual $0.490
EPS surprise 6.52%
Date Price
Apr 17, 2025 $21.85
Apr 21, 2025 $21.88
Apr 22, 2025 $22.66
Apr 23, 2025 $22.98
Apr 24, 2025 $22.99
Apr 25, 2025 $22.60
Apr 28, 2025 $22.77
Apr 29, 2025 $22.94
Apr 30, 2025 $22.82
4 days before 5.22%
4 days after -0.739%
On release day -1.70%
Change in period 4.44%

Heritage Financial Earnings Call Transcript Summary of Q1 2025

Here's a summary of the key points from the Heritage Financial Q1 earnings call that investors should note:

Financial Performance

  • Strong Q1 Results: Heritage Bank reported strong deposit growth and margin expansion, with total deposits increasing by $160.7 million, primarily in non-mature deposits (90% of growth).
  • Loan Portfolio: Total loan balances decreased by $37 million due to elevated payoffs and prepayments, with new loan commitments amounting to $183 million.
  • Interest Margin: Net interest margin improved to 3.44%, attributed to decreasing costs of deposits and borrowings, while yields on the loan portfolio were slightly down at 5.45%.
  • Credit Losses: A small provision for credit losses of $51,000 was recognized, with charge-off rates remaining low at 0.03%.

Credit Quality

  • Stable Credit Metrics: Non-accrual loans totaled $4.4 million, representing only 0.09% of total loans, maintaining stability in credit quality metrics even amid economic uncertainty.
  • Monitoring Risks: There is a focus on monitoring emerging economic risks, particularly related to tariffs and changes in federal funding which could affect credit quality.

Operational Updates

  • Employee Expansion: A new team was added in Spokane, contributing to the bank's growth strategy, with a focus on balancing talent acquisition and expense management.
  • Future Plans: The bank remains open to exploring mergers and acquisitions as opportunities arise, particularly as regional banking dynamics continue to shift.

Guidance and Market Outlook

  • Expectations for Growth: The bank anticipates annualized loan growth in Q2 to be around 5% to 8%, although there are potential uncertainties due to market conditions that could impact growth.
  • Cost Management: Non-interest expenses are expected to sustain in the $41 million to $42 million range, with strategic cost-control measures in place.

Strategic Focus

  • Relationship Growth: Much of the deposit growth has come from expanding existing relationships coupled with targeted efforts to attract customers from banks facing challenges in the current climate.
  • Capital Strategy: The bank maintains a healthy capital ratio (TCE ratio at 9.3%) and has a stock repurchase plan in place, although no shares were repurchased in Q1.

Conclusion

Overall, Heritage Bank showcased strong financial performance in Q1 with a solid deposit base, stable credit quality, and a strategy focused on growth amidst economic uncertainty. Investors might view the bank's cautious yet optimistic outlook positively, as it addresses potential risks while positioning itself for growth.

Heritage Financial Earnings History

Earnings Calendar

FAQ

When is the earnings report for HFWA?
Heritage Financial Corporation (HFWA) has scheduled its earnings report for Jul 24, 2025 before the markets open.

What is the HFWA price-to-earnings (P/E) ratio?
HFWA P/E ratio as of May 23, 2025 (TTM) is 15.28.

What is the HFWA EPS forecast?
The forecasted EPS (Earnings Per Share) for Heritage Financial Corporation (HFWA) for the first fiscal quarter 2025 is $0.510.

What are Heritage Financial Corporation's retained earnings?
On its balance sheet, Heritage Financial Corporation reported retained earnings of $81.27 million for the latest quarter ending Mar 31, 2025.

What Is an Earnings Report?
An earnings report is usually issued quarterly (Q1, Q2, Q3 & Q4) by public companies to report their performance. Earnings reports typically include net income, earnings per share, earnings from continuing operations, and net sales. Looking at the earnings report investors can start gauge the financial health of the company and make even better decisions whether to buy, sell, or stay in the company. Fundamental analysts and value investors will typically hunt for stocks that continue to show good financial ratios and use a decline as an exit point. One of the most anticipated numbers for analysis is earnings per share because it indicates how much the company earned for its shareholders. The report will also indicate a possible dividend.

Earnings Report Content
Earnings reports generally provide an update of all three financial statements, including the income statement, the balance sheet, and the cash flow statement. These figures are typically measured against previous quarters/years. Furthermore, the earnings report usually includes a summary and analysis from the CEO or company spokesman, alongside a more general view of the financials and future forecast.

What To Know About Earnings Reports?
Announcement of earnings for a stock, particularly for well followed large-capitalization stocks, can move the market. Stock prices can fluctuate wildly on days when the quarterly earnings report is released. Despite good reports, stocks may very well fall if the investors were expecting more or they believe the next quarter will not be as good. Investors always try to be ahead of the market and future earnings/losses are often discounted into the current price of the stock. It is natural for stocks to start to move in either direction a few days before the release of an earnings report.
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ABOUT HERITAGE FINANCIAL CORPORATION
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. The company 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. Its loan portfolio includes comme...
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