Compared to Estimates, Heritage Financial (HFWA) Q4 Earnings: A Look at Key Metrics
Heritage Financial (HFWA) reported $50.72 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 27.2%. EPS of $0.47 for the same period compares to $0.64 a year ago.
The reported revenue represents a surprise of -18.19% over the Zacks Consensus Estimate of $62 million. With the consensus EPS estimate being $0.47, the company has not delivered EPS surprise.
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:
Efficiency Ratio: 84.2% compared to the 66.5% average estimate based on three analysts.
Net Interest Margin: 3.4% compared to the 3.4% average estimate based on three analysts.
Total Nonperforming Assets: $5.76 million versus $7.42 million estimated by two analysts on average.
Total Nonaccrual Loans: $4.47 million versus $5.11 million estimated by two analysts on average.
Average Balance - Total interest earning assets: $6.27 billion versus $6.39 billion estimated by two analysts on average.
Net charge-offs (recoveries) on loans to average loans receivable, net: 0.1% versus 0.1% estimated by two analysts on average.
Net Interest Income: $53.87 million versus the three-analyst average estimate of $54.49 million.
Total Noninterest Income: -$3.15 million versus the three-analyst average estimate of $7.53 million.
Gain on sale of loans, net: $0.04 million compared to the $0.12 million average estimate based on two analysts.
View all Key Company Metrics for Heritage Financial here>>>
Shares of Heritage Financial have returned -4.4% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Heritage Financial Corporation (HFWA) : Free Stock Analysis Report
