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Heritage Financial: Q1 Earnings Snapshot

By AP News - Apr 25, 2024, 08:18 AM ET

Last Updated - Apr 25, 2024, 08:18 AM EDT

Heritage Financial: Q1 Earnings Snapshot

OLYMPIA, Wash. (AP) — OLYMPIA, Wash. (AP) — Heritage Financial Corp. (HFWA) on Thursday reported first-quarter profit of $5.7 million.

On a per-share basis, the Olympia, Washington-based company said it had profit of 16 cents. Earnings, adjusted for non-recurring costs, came to 40 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The bank holding company posted revenue of $71.5 million in the period. Its adjusted revenue was $48.6 million, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $59.9 million.

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