Heritage Financial Q2 adjusted EPS beats estimates
Overview
Heritage Financial Q2 net income $12.2 mln, down from Q, due to loss on sale of securities
Adjusted EPS beats estimates, reflecting stronger underlying performance
Net interest margin improved to 3.51%, up from 3.44% in Q1
Outlook
Heritage Financial to consider investment in new production teams when opportunities arise
Result Drivers
STRATEGIC REPOSITIONING - Losses from securities sales as part of balance sheet repositioning impacted earnings, per CEO Bryan McDonald
NET INTEREST MARGIN - Improved to 3.51% due to higher yields on loans and securities
DEPOSIT BALANCES - Seasonal decline in deposits but overall increase since year-end 2024
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Adjusted EPS | Beat | $0.53 | $0.49 (6 Analysts) |
Q2 EPS |
| $0.36 |
|
Q2 Net Income |
| $12.22 mln |
|
Q2 Net Interest Margin |
| 3.5% |
|
Press Release: ID:nPn7lBltqa
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