Heritage Financial Corporation HFWA

28.57 0.32 1.13% as of 25 Sep
Market cap
$1.2B
P/E
13.4×
Growth Flags show if company had growth for consecutive years,
Insider Buys alert about insiders buying in the last 12 month

Insider Decisions

Total buys 0.43
Total sells 1.54
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — 1 — — — — — — — — — —
Sell — — — 1 2 — — 1 1 1 3 2
Insider Ownership 1.83%

Capital & Financial Ratios

Market Cap 1,160.00
Revenue 381.04
Net Income 77.90
Free Cash Flow 80.43
Net Debt (15.63)
Current Ratio 0.83
Debt/Equity 0.17
P/E ratio 13.41
P/S ratio 3.08
P/B ratio 1.06
Past 5Y EPS Growth (7.45%)
This Y EPS Growth 0.60%
Next Y EPS Growth 33.56%
Next 5Y EPS Growth 13.09%
in millions of $

Dividends

Payout Ratio 0.38
Annual Dividend Rate 0.87
Annual Dividend Yield 5.04%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.97
0.24
0.24
0.25
2025 0.96
0.24
0.24
0.24
0.24
2024 0.92
0.23
0.23
0.23
0.23
2023 0.88
0.22
0.22
0.22
0.22
2022 0.84
0.21
0.21
0.21
0.21
2021 0.81
0.20
0.20
0.20
0.21
2020 0.80
0.20
0.20
0.20
0.20
2019 0.55
0.18
0.18
0.19
0.10
2018 0.62
0.15
0.15
0.15
0.17
2017 0.51
0.12
0.13
0.13
0.13
2016 0.47
0.11
0.12
0.12
0.12
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 225 117 233 204
Receivables — — — —
Inventory — — — —
Other — — — —
4,532 4,886 4,983 5,916
2023 2024 2025 Q'26
Payables 5,600 5,685 5,920 7,039
ST’ Debt — — — —
Other — — — —
5,800 5,838 6,003 7,132
in millions of $

Compound Annual Growth

10y 5y 3y
Sales 7.18% 5.96% 9.34%
Cash Flow 6.32% 6.16% 0.13%
Earnings 6.16% 7.72% (6.22%)
Book Value 6.97% 2.35% 4.92%

Revenue

Mar Jun Sep Dec Year
’26 99 107 — — —
’25 81 80 88 87 336
’24 71 82 82 82 317
’23 75 77 80 71 303
’22 57 59 69 73 257
’21 62 64 61 59 247
’20 63 62 61 66 252
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 14 23 — — —
’25 19 23 25 28 95
’24 13 7 24 21 64
’23 23 24 31 31 110
’22 11 23 29 32 94
’21 9 21 21 19 70
’20 14 24 4 28 70
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 13 21 — — —
’25 18 21 24 22 86
’24 12 6 23 20 61
’23 19 23 27 30 99
’22 11 21 30 28 91
’21 9 19 20 18 67
’20 13 24 (1) 28 64
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 0.48 0.42 — — —
’25 0.40 0.36 0.55 0.65 1.96
’24 0.16 0.41 0.33 0.34 1.24
’23 0.58 0.48 0.51 0.18 1.75
’22 0.56 0.52 0.59 0.64 2.31
’21 0.70 0.90 0.58 0.55 2.73
’20 0.33 (0.17) 0.46 0.66 1.29
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
16.40 22.50 27.98 25.24 14.65 20.95 23.31 14.85 16.55 19.84

Analyst estimates 2026–2028

Powerpack
Low Price
26.48 33.25 37.40 33.22 28.43 30.86 34.34 31.21 27.58 26.92
High Price
760 735 859 884 856 767 829 799 761 755
Employees
0 0 0 0 0 0 0 0 0 0
Revenue/Emp
170 183 231 250 252 247 257 303 317 336
Revenue
96.47% 95.45% 94.63% 92.74% 94.70% 97.15% 96.86% 80.43% 68.36% 73.26%
Gross Margin
53 60 64 81 53 121 99 73 52 79
EBT
30.99% 32.82% 27.83% 32.38% 21.14% 48.70% 38.68% 24.05% 16.48% 23.40%
EBT Margin
39 42 53 68 47 98 82 62 43 68
Net Income
13 11 21 18 0 (19) 3 22 23 27
Depreciation
5.73 6.16 6.56 6.81 6.98 6.94 7.32 8.66 9.20 9.88
Revenue/Sh
1.30 1.29 1.49 1.84 1.29 2.75 2.33 1.76 1.26 1.99
Earnings/Sh
1.82 2.47 2.57 2.52 1.95 1.95 2.69 3.13 1.87 2.79
Cash Flow/Sh
(0.20) (0.10) (0.66) (0.35) (0.18) (0.08) (0.11) (0.29) (0.10) (0.27)
Capex/Sh
1.61 2.37 1.91 2.16 1.77 1.87 2.58 2.83 1.77 2.52
Free CF/Sh
16.23 17.08 21.62 22.02 22.78 23.95 22.73 24.36 25.06 27.11
Book Value/Sh
30 30 35 37 36 36 35 35 34 34
Shares
19.92 21.70 19.95 15.38 18.13 8.89 13.04 12.02 19.44 11.88
PE Ratio
4.52 4.92 4.53 4.16 3.35 3.52 4.15 2.44 2.66 2.39
PS Ratio
1.60 1.77 1.38 1.29 1.03 1.02 1.34 0.87 0.98 0.87
PB Ratio
4.49 4.97 3.91 3.33 0.48 (3.35) 3.83 3.42 3.57 1.83
EV/Sales
15.95 12.93 13.46 10.46 1.88 (12.47) 10.87 10.46 18.53 7.15
EV/FCF
54 74 90 92 70 70 94 110 64 95
Op' Cash Flow
(6) (3) (23) (13) (6) (3) (4) (10) (3) (9)
Capex
48 70 67 80 64 67 91 99 61 86
FCF
(562) (558) (738) (743) (608) (1,044) (2,031) (1,268) (951) (1,020)
Working Cap'
99 113 20 21 21 21 21 522 405 42
Total Debt
(4) 9 (142) (208) (722) (1,702) (82) 297 288 (191)
Net Debt
482 508 761 809 820 854 798 853 864 922
Sh' Equity
1.02% 1.04% 1.12% 1.24% 0.77% 1.40% 1.14% 0.87% 0.61% 0.96%
ROA
6.90% 7.26% 6.49% 8.42% 33.91% 0.00% 8.68% 3.96% 2.84% 6.72%
ROIC
8.10% 8.38% 8.33% 8.61% 5.71% 11.71% 9.91% 7.48% 5.04% 7.57%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Heritage Financial Corporation (HFWA) key facts

  • Heritage Financial Corporation (HFWA) is a Banks Regional company in the Financial sector, listed on Nasdaq.
  • Heritage Financial Corporation’s revenue for fiscal 2025 (year ended December 2025) was $336.0 million, up 5.92% from fiscal 2024.
  • Net income was $67.5 million, or $1.99 per share (basic), a net margin of 20.1%.
  • As of September 25, 2026, HFWA traded at $28.57, a market capitalization of $1.2 billion.
  • At that price the stock trades at 13.4× trailing-twelve-month earnings and 3.1× sales.
  • Heritage Financial Corporation pays an annual dividend of $0.87 per share, a yield of 5.04%, with a payout ratio of 37.6%.
  • Return on equity was 7.57% and debt-to-equity 0.17.

Source: company filings (standardised) and stockrow calculations.

Heritage Financial Corporation (HFWA) Latest News

News by impact score

Fine-tune

24 Jul

3 transcript

Heritage Financial Corporation held Q2 2026 earnings call covering quarterly results, revenue, net income, loan growth, credit quality, and management outlook. Quarterly earnings and guidance updates can moderately influence near-term stock sentiment and valuation without major strategic shifts.

3 transcript

Heritage Financial Corporation held its Q2 2026 earnings call, covering financial results, operational updates and management outlook. Quarterly earnings details typically provide financial metrics that moderately influence valuation and investor sentiment.

23 Jul

3

Heritage Financial Corp (HFWA) reported Q2 2026 earnings call highlights focused on navigating growth amid challenges. Quarterly earnings details can moderately shape near-term performance views and strategy outlook.

3

Heritage Financial Corporation discussed Q2 financial results and outlook during its earnings call. Q2 earnings highlights provide updates likely to moderately influence near-term investor sentiment.

3

Heritage Financial Corporation reported second quarter 2026 results and declared a regular cash dividend of $0.25 per share. Quarterly results release with standard dividend declaration typically produces moderate effects on near-term stock sentiment and valuation.

30 Apr

3

Heritage Financial reported stronger Q1 earnings with net income up 25% to $21.4 million, or $0.38 per diluted share, beating estimates, alongside reaffirmed dividend of $0.23 per share, signaling financial health and prompting reassessment of HFWA's investment appeal amid rising interest rates. Stronger Q1 earnings and steady dividend signal improved financial performance but represent routine quarterly results without transformative strategic shifts.

27 Apr

4

Heritage Financial (HFWA) investor narrative shifts positively with analysts raising price targets and the company launching a share buyback program. Analyst price target upgrades and share buybacks represent major strategic actions boosting HFWA's market sentiment and performance trajectory.

26 Apr

4

Heritage Financial Corporation (HFWA) recorded a 53% earnings per share (EPS) beat. Analysts now forecast next-quarter expectations amid positive momentum. 53% EPS beat highlights strong financial results, likely driving significant positive shifts in investor sentiment and stock performance.

24 Apr

4

Heritage Financial Corp (HFWA) Q1 2026 earnings call highlights strategic merger boosting growth. Strategic merger boosts growth as a major move likely to significantly alter trajectory and investor sentiment.

23 Apr

4

Heritage Financial Corporation (HFWA) reported Q1 earnings that surpassed analyst estimates. Surpassing Q1 earnings estimates indicates strong financial performance likely to enhance stock price and investor sentiment.

3

Heritage Financial Corporation reported Q1 2026 earnings with key financial metrics, deposit growth, loan portfolio updates, net interest margin improvements, and optimistic guidance amid economic challenges. Quarterly earnings summaries reveal financial health and outlook, moderately influencing stock performance and analyst views.

3

Heritage Financial Corporation (HFWA) released Q1 earnings call highlights detailing financial performance, loan growth, deposit trends, and strategic outlook. Q1 earnings highlights directly impact financial metrics and market sentiment for HFWA.

3

Heritage Financial (HFWA) Q1 earnings compared to analyst estimates, with analysis of key metrics including revenue, EPS, net interest income, and loan growth. Q1 earnings comparison to estimates moderately influences financial performance perception and short-term stock sentiment.

3

Heritage Financial Corporation announced first quarter 2026 financial results and declared a regular cash dividend of $0.24 per share. Quarterly earnings release and dividend declaration moderately affect financial performance and investor sentiment.

3 Mar

4

Massachusetts-based Heritage Financial Corporation (HFWA) has joined Savant Wealth Management. Heritage Financial's affiliation with Savant Wealth Management enables strategic expansion into comprehensive wealth services, significantly enhancing growth prospects and competitive positioning.

2 Feb

4

Heritage Financial Corporation has successfully completed its acquisition of Olympic Bancorp, Inc. This strategic move is expected to enhance Heritage's market presence and operational capabilities, further solidifying its position in the financial services sector. The acquisition is a significant strategic move that could alter Heritage Financial's competitive positioning and market dynamics.

29 Jan

3

Heritage Financial Corporation (HFWA) is highlighted among three stocks potentially trading below their estimated value as of January 2026. The analysis suggests that HFWA, along with other selected stocks, may present investment opportunities due to their undervaluation in the market. Factors contributing to this assessment include financial performance metrics and market conditions that could favor a rebound in stock prices. HFWA's potential undervaluation may moderately influence its financial performance and market sentiment.

3

Heritage Financial Corporation (HFWA) is highlighted as one of three stocks potentially trading below their fair value estimates. Analysts suggest that HFWA, along with two other companies, may present investment opportunities due to their undervalued status in the current market. The article emphasizes the importance of evaluating these stocks for potential gains as market conditions fluctuate. HFWA's undervaluation may moderately influence investor sentiment and financial performance.

27 Jan

4

Heritage Financial Corporation (HFWA) is experiencing shifts in its market positioning and fair value expectations due to evolving economic conditions and strategic initiatives. Analysts are reassessing the company's growth potential and competitive landscape, leading to updated valuations. The focus is on how these changes may influence HFWA's future performance and investor sentiment. Significant strategic moves and market dynamics are likely to alter the company's trajectory.

25 Jan

3

Heritage Financial Corporation (HFWA) is poised for potential growth as it prepares to distribute an upcoming dividend. Investors may find this an attractive opportunity, particularly in the context of the company's financial stability and performance metrics. The dividend announcement could enhance investor sentiment and drive interest in HFWA shares, suggesting a favorable outlook for the stock. The upcoming dividend is expected to positively influence investor sentiment and financial performance, but its overall impact may be limited.

23 Jan

4

Heritage Financial Corporation (HFWA) reported strong earnings growth in Q4 2025, highlighting significant improvements in revenue and net income. The company attributed this success to effective cost management and strategic investments. Additionally, HFWA's loan portfolio showed robust performance, contributing to overall financial stability. Management expressed optimism about future growth prospects and plans to enhance shareholder value through continued focus on operational efficiency and market expansion. Strong earnings growth and strategic investments indicate significant potential for future performance and market positioning.

22 Jan

4 transcript

Heritage Financial Corporation reported its Q4 earnings, highlighting a strong performance driven by increased net interest income and improved asset quality. The company noted a rise in loan demand and a strategic focus on expanding its market presence. Management emphasized ongoing efforts to enhance operational efficiency and customer service. Future growth initiatives were discussed, including potential acquisitions and investments in technology to better serve clients. Overall, the earnings call reflected a positive outlook for the company amidst a competitive banking environment. Significant growth initiatives and strategic focus on market expansion are likely to impact future performance.

4 transcript

Heritage Financial Corporation (HFWA) reported its latest earnings results, highlighting key financial metrics and strategic initiatives. The company emphasized growth in loan and deposit volumes, alongside improvements in net interest margin. Management provided insights into market conditions and future outlook, addressing potential challenges and opportunities in the banking sector. Overall, the earnings call reflected a positive trajectory for HFWA, with a focus on enhancing shareholder value and maintaining competitive positioning. Significant strategic initiatives and financial performance improvements are likely to influence future market positioning and investor sentiment.

4 transcript

Heritage Financial Corporation (HFWA) reported its latest earnings, highlighting key financial metrics and strategic initiatives. The company showcased growth in net income and assets, driven by increased loan demand and effective cost management. Management provided insights into future expectations and market conditions, emphasizing a commitment to enhancing shareholder value. Overall, the earnings call reflected a positive outlook for HFWA amidst a competitive banking landscape. Significant growth in net income and strategic initiatives indicate a strong potential for future performance.

4

Heritage Financial Corporation (HFWA) reported Q4 earnings and revenues that exceeded analysts' expectations, showcasing strong financial performance. The results reflect effective management strategies and growth in key areas, contributing positively to investor sentiment. The company continues to demonstrate resilience in a competitive market, positioning itself favorably for future growth. Strong earnings and revenue growth indicate significant positive momentum for the company's future performance.

4

Heritage Financial Corporation (HFWA) reported its Q4 earnings, showcasing a notable increase in net income compared to the previous year. The bank's total assets grew, driven by strong loan demand and improved net interest margins. Additionally, the company highlighted its commitment to strategic growth initiatives and maintaining a robust capital position. Overall, the earnings report reflects a positive trajectory for HFWA, with management expressing optimism about future performance amid a competitive banking landscape. The significant increase in net income and asset growth indicates a strong performance that could positively influence investor sentiment and future strategic initiatives.

4

Heritage Financial Corporation (HFWA) reported its fourth quarter and annual results for 2025, highlighting significant growth in net income and total assets. The company achieved a notable increase in earnings per share and improved its return on equity. Additionally, Heritage Financial announced strategic initiatives aimed at enhancing operational efficiency and expanding its market presence. The results reflect a strong performance despite challenging economic conditions, positioning the company favorably for future growth. The reported financial results and strategic initiatives indicate a significant impact on the company's future performance and market positioning.

3 earnings

Heritage Financial Corporation (HFWA) reported its Q4 earnings, revealing key metrics that were compared against analysts' estimates. The results highlighted the company's financial performance, including revenue and net income figures, which showed a positive trend. Analysts had anticipated certain outcomes, and the actual results provided insights into HFWA's operational efficiency and market positioning. The earnings report is expected to influence investor sentiment and the company's future trajectory. The earnings report indicates moderate changes in financial performance that could affect investor sentiment and operational aspects.

21 Jan

3

Heritage Financial Corporation (HFWA) is set to announce its Q4 earnings, with Wall Street analysts estimating key metrics that will provide insights into the company's financial performance. Investors are keenly awaiting the results, which could influence market sentiment and HFWA's stock trajectory. Q4 earnings reports typically have a noticeable influence on financial performance and investor sentiment.

16 Jan

3

Heritage Financial Corporation (HFWA) has declared a quarterly dividend of $0.20 per share, payable on November 17, 2023, to shareholders of record as of November 3, 2023. This decision reflects the company's ongoing commitment to returning value to its shareholders and indicates a stable financial position. The dividend declaration suggests a stable financial performance, which may positively influence investor sentiment but is not expected to significantly alter the company's trajectory.

stockrow.com/HFWA · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com