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Here's What Key Metrics Tell Us About Heritage Financial (HFWA) Q1 Earnings
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For the quarter ended March 2024, Heritage Financial (HFWA - Free Report) reported revenue of $48.63 million, down 28.6% over the same period last year. EPS came in at $0.40, compared to $0.58 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $59.87 million, representing a surprise of -18.77%. The company delivered an EPS surprise of -2.44%, with the consensus EPS estimate being $0.41.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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% compared to the 3.3% average estimate based on three analysts.
Efficiency Ratio: 83% versus 67.9% estimated by three analysts on average.
Total Nonperforming Assets: $7.42 million compared to the $7.74 million average estimate based on two analysts.
Average Balance - Total interest earning assets: $6.24 billion compared to the $6.38 billion average estimate based on two analysts.
Total Nonaccrual Loans: $7.42 million compared to the $6.61 million average estimate based on two analysts.
Net Interest Income: $51.53 million compared to the $52.76 million average estimate based on three analysts.
Total Noninterest Income: -$2.90 million versus $7.11 million estimated by three analysts on average.
Gain on sale of loans, net: $0.03 million versus the two-analyst average estimate of $0.07 million.
Shares of Heritage Financial have returned -2.9% 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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Here's What Key Metrics Tell Us About Heritage Financial (HFWA) Q1 Earnings
For the quarter ended March 2024, Heritage Financial (HFWA - Free Report) reported revenue of $48.63 million, down 28.6% over the same period last year. EPS came in at $0.40, compared to $0.58 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $59.87 million, representing a surprise of -18.77%. The company delivered an EPS surprise of -2.44%, with the consensus EPS estimate being $0.41.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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% compared to the 3.3% average estimate based on three analysts.
- Efficiency Ratio: 83% versus 67.9% estimated by three analysts on average.
- Total Nonperforming Assets: $7.42 million compared to the $7.74 million average estimate based on two analysts.
- Average Balance - Total interest earning assets: $6.24 billion compared to the $6.38 billion average estimate based on two analysts.
- Total Nonaccrual Loans: $7.42 million compared to the $6.61 million average estimate based on two analysts.
- Net Interest Income: $51.53 million compared to the $52.76 million average estimate based on three analysts.
- Total Noninterest Income: -$2.90 million versus $7.11 million estimated by three analysts on average.
- Gain on sale of loans, net: $0.03 million versus the two-analyst average estimate of $0.07 million.
View all Key Company Metrics for Heritage Financial here>>>Shares of Heritage Financial have returned -2.9% 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.