Heritage Financial (HFWA - Free Report) reported $61.89 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 7.3%. EPS of $0.51 for the same period compares to $0.59 a year ago.
The reported revenue represents a surprise of -0.23% over the Zacks Consensus Estimate of $62.03 million. With the consensus EPS estimate being $0.44, the EPS surprise was +15.91%.
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:
- Efficiency Ratio: 66.2% versus the three-analyst average estimate of 67.7%.
- Net charge-offs (recoveries) on loans to average loans receivable, net: 0.1% compared to the 0.1% average estimate based on three analysts.
- Net Interest Margin: 3.5% versus the three-analyst average estimate of 3.5%.
- Total Nonperforming Assets: $5.22 million versus $6.43 million estimated by two analysts on average.
- Total Nonaccrual Loans: $3.07 million compared to the $6.43 million average estimate based on two analysts.
- Average Balance - Total interest earning assets: $6.36 billion compared to the $6.25 billion average estimate based on two analysts.
- Total Noninterest Income: $6.27 million compared to the $7.39 million average estimate based on three analysts.
- Net Interest Income: $55.62 million compared to the $54.65 million average estimate based on three analysts.
View all Key Company Metrics for Heritage Financial here>>>Shares of Heritage Financial have returned -0.7% over the past month versus the Zacks S&P 500 composite's -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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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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Heritage Financial (HFWA - Free Report) reported $61.89 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 7.3%. EPS of $0.51 for the same period compares to $0.59 a year ago.
The reported revenue represents a surprise of -0.23% over the Zacks Consensus Estimate of $62.03 million. With the consensus EPS estimate being $0.44, the EPS surprise was +15.91%.
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:
- Efficiency Ratio: 66.2% versus the three-analyst average estimate of 67.7%.
- Net charge-offs (recoveries) on loans to average loans receivable, net: 0.1% compared to the 0.1% average estimate based on three analysts.
- Net Interest Margin: 3.5% versus the three-analyst average estimate of 3.5%.
- Total Nonperforming Assets: $5.22 million versus $6.43 million estimated by two analysts on average.
- Total Nonaccrual Loans: $3.07 million compared to the $6.43 million average estimate based on two analysts.
- Average Balance - Total interest earning assets: $6.36 billion compared to the $6.25 billion average estimate based on two analysts.
- Total Noninterest Income: $6.27 million compared to the $7.39 million average estimate based on three analysts.
- Net Interest Income: $55.62 million compared to the $54.65 million average estimate based on three analysts.
View all Key Company Metrics for Heritage Financial here>>>Shares of Heritage Financial have returned -0.7% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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