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Heritage Financial (HFWA) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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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.
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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Heritage Financial (HFWA) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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.