Heritage Financial: 4Q Earnings Snapshot
OLYMPIA, Wash. (AP) _ Heritage Financial Corp. (HFWA) on Thursday reported fourth-quarter profit of $16.5 million.
The Olympia, Washington-based company said it had profit of 45 cents per share. Earnings, adjusted for one-time gains and costs, were 47 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 50 cents per share.
The bank holding company posted revenue of $63.3 million in the period. Its adjusted revenue was $59.7 million, beating Street forecasts. Four analysts surveyed by Zacks expected $59.4 million.
For the year, the company reported profit of $52.7 million, or $1.49 per share. Revenue was reported as $218.6 million.
Heritage Financial shares have climbed almost 5 percent since the beginning of the year. The stock has declined slightly more than 1 percent in the last 12 months.