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Heritage Financial Corp. (HFWA)
NASDAQ:HFWA
Earnings Data
Report Date
Apr 24, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.45Last Year’s EPS
0.16Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Apr 24, 2025
|% Change Since: 2.61%
|Next Earnings Date:Jul 17, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a balanced view with strong deposit growth, improved net interest margin, and stable credit quality as highlights. However, these were offset by a decrease in loan balances, a significant investment loss, and increased non-interest expenses. The overall sentiment is neutral given the balance of positive and negative aspects.Company Guidance
During the Heritage Financial Q1 2025 earnings call, the company provided guidance highlighting several key metrics. The total loan balances decreased by $37 million due to elevated payoffs and prepayments, with loan yields at 5.45%, reflecting a 2 basis point decrease from Q4 2024. However, strong deposit growth was observed, with total deposits increasing by $160.7 million, primarily in non-mature money market accounts. The cost of interest-bearing deposits decreased slightly to 1.92% from 1.98% in the previous quarter. The net interest margin improved to 3.44% from 3.36% in Q4 2024. Heritage Financial reported a provision for credit losses of $51,000, and noninterest expense increased by $1.8 million, mostly due to higher benefits and payroll taxes. The company maintains a stable credit quality with nonaccrual loans at $4.4 million, representing 0.09% of total loans. Heritage Financial is guiding for quarterly noninterest expenses in the range of $41 million to $42 million for the year. The company also noted that its total capital equity ratio increased to 9.3% from 9% in the prior quarter, supporting potential stock buybacks, though none were executed in Q1.Strong Deposit Growth
Total deposits increased $160.7 million in Q1, with 95% of this growth in non-mature deposits. The majority of growth was in money market accounts.
Improved Net Interest Margin
Net interest margin increased to 3.44% for Q1 from 3.36% in the prior quarter due to decreases in the cost of both deposits and borrowings.
Stable Credit Quality
Non-accrual loans totaled just over $4.4 million, representing 0.09% of total loans, with criticized loans decreasing by $1 million during the quarter.
Increased Capital Ratio
The TCE ratio increased to 9.3%, up from 9% in the prior quarter, maintaining a strong capital position.
Higher Interest Rates on New Loans
The average first quarter interest rate for new commercial loans was 6.83%, up 20 basis points from the last quarter.
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HFWA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HFWA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Apr 24, 2025 | $22.98 | $22.99 | +0.04% |
| Jan 23, 2025 | $24.37 | $24.62 | +1.03% |
| Oct 24, 2024 | $21.46 | $21.94 | +2.24% |
| Jul 25, 2024 | $21.16 | $22.30 | +5.39% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Heritage Financial Corp. (HFWA) report earnings?
Heritage Financial Corp. (HFWA) is schdueled to report earning on Apr 24, 2025, TBA Not Confirmed.
What is Heritage Financial Corp. (HFWA) earnings time?
Heritage Financial Corp. (HFWA) earnings time is at Apr 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HFWA EPS forecast?
HFWA EPS forecast for the fiscal quarter 2025 (Q1) is 0.45.
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