Analysts on Wall Street project that Heritage Financial (HFWA) will announce quarterly earnings of $0.57 per share in its forthcoming report, representing an increase of 11.8% year over year. Revenues are projected to reach $65.7 million, increasing 7.8% from the same quarter last year.
The current level reflects an upward revision of 1.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Heritage Financial metrics that Wall Street analysts commonly model and monitor.
The average prediction of analysts places 'Net Interest Margin' at 3.7%. Compared to the current estimate, the company reported 3.4% in the same quarter of the previous year.
The consensus among analysts is that 'Efficiency Ratio' will reach 63.1%. Compared to the present estimate, the company reported 69.3% in the same quarter last year.
The collective assessment of analysts points to an estimated 'Total Nonperforming Assets' of $16.75 million. Compared to the present estimate, the company reported $5.27 million in the same quarter last year.
Analysts predict that the 'Total Nonaccrual Loans' will reach $14.25 million. The estimate is in contrast to the year-ago figure of $4.08 million.
The consensus estimate for 'Average Balance - Total interest earning assets' stands at $6.27 billion. The estimate is in contrast to the year-ago figure of $6.31 billion.
Analysts expect 'Total Noninterest Income' to come in at $8.00 million. The estimate compares to the year-ago value of $3.29 million.
According to the collective judgment of analysts, 'Net Interest Income' should come in at $57.71 million. Compared to the current estimate, the company reported $53.76 million in the same quarter of the previous year.
View all Key Company Metrics for Heritage Financial here>>>
Shares of Heritage Financial have demonstrated returns of +1.1% over the past month compared to the Zacks S&P 500 composite's -0.4% change. With a Zacks Rank #2 (Buy), HFWA is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Heritage Financial Corporation (HFWA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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