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Here's What Key Metrics Tell Us About Heritage Financial (HFWA) Q2 Earnings
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Heritage Financial (HFWA - Free Report) reported $63.11 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 10.6%. EPS of $0.48 for the same period compares to $0.52 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $64.9 million, representing a surprise of -2.77%. The company delivered an EPS surprise of -2.04%, with the consensus EPS estimate being $0.49.
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.
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: 65.5% versus 64.53% estimated by three analysts on average.
Net Interest Margin: 3.56% compared to the 3.67% average estimate based on three analysts.
Average Balance - Total interest earning assets: $6.30 billion versus $6.38 billion estimated by two analysts on average.
Total Noninterest Income: $7.28 million versus $7.07 million estimated by three analysts on average.
Net Interest Income: $55.82 million versus $57.84 million estimated by three analysts on average.
Shares of Heritage Financial have returned +14.3% over the past month versus the Zacks S&P 500 composite's +3.6% 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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Here's What Key Metrics Tell Us About Heritage Financial (HFWA) Q2 Earnings
Heritage Financial (HFWA - Free Report) reported $63.11 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 10.6%. EPS of $0.48 for the same period compares to $0.52 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $64.9 million, representing a surprise of -2.77%. The company delivered an EPS surprise of -2.04%, with the consensus EPS estimate being $0.49.
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.
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: 65.5% versus 64.53% estimated by three analysts on average.
- Net Interest Margin: 3.56% compared to the 3.67% average estimate based on three analysts.
- Average Balance - Total interest earning assets: $6.30 billion versus $6.38 billion estimated by two analysts on average.
- Total Noninterest Income: $7.28 million versus $7.07 million estimated by three analysts on average.
- Net Interest Income: $55.82 million versus $57.84 million estimated by three analysts on average.
View all Key Company Metrics for Heritage Financial here>>>Shares of Heritage Financial have returned +14.3% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.