Heritage Financial Posts $18.7M Q3 Net Income, Up From $17.5M in Q2
HFWA sits 30% above its 52-week low of $21.32.
Summary
Heritage Financial reported third-quarter net income of $18.7 million, up from $17.5 million in the second quarter, with earnings per share of 46 cents. The sequential gain extends the earnings lift from the Olympic Bancorp acquisition, which drove Q2 net income up 44% year over year and pushed the net interest margin to 3.99%. At a roughly $1.1 billion market cap, the quarter's profit is meaningful relative to the bank's size. The company also declared a regular cash dividend of $0.25 per share, and its adjusted earnings per share declined. The headline carries only the bottom line, so the quality of the beat — margin, credit costs, and the pace of acquisition integration — is not yet visible. Full release details will show whether the margin held near 4% and whether loan growth continued.
At the time of this announcement, HFWA was trading at $27.68 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $21.32 to $31.25. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.