Symbols / HFWA Stock $27.59 +0.91% Heritage Financial Corporation

Financial Services • Banks - Regional • United States • NMS
HFWA (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Financial Services
Industry Banks - Regional
CEO Mr. Bryan D. McDonald
Exch · Country NMS · United States
Market Cap 1.14B
Enterprise Value 912.36M
Income 72.57M
Sales 265.58M
FCF (ttm) —
Book/sh 27.13
Cash/sh 6.50
Employees 905
Insider 10d —
IPO May 07, 1998
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 47.06%
P/E 13.52
Forward P/E 9.87
PEG 2.13
P/S 4.29
P/B 1.02
P/C —
EV/EBITDA —
EV/Sales 3.44
Quick Ratio —
Current Ratio —
Debt/Eq —
LT Debt/Eq —
EPS (ttm) 2.04
EPS next Y 2.79
EPS Growth 20.00%
Revenue Growth 37.20%
EPS Gr Q/Q 36.20%
Rev Gr Q/Q —
Earnings (next) 2026-07-23
Earnings (prior) 2026-04-23
ROA 0.93%
ROE 7.27%
ROIC —
Gross Margin 0.00%
Oper. Margin 32.29%
Profit Margin 27.32%
Shs Outstand 41.25M
Shs Float 40.60M
Insider Own 1.39%
Instit Own 72.89%
Short Float 6.66%
Short Ratio 6.88
Short Interest 2.38M
52W High 28.98
vs 52W High -4.80%
52W Low 21.32
vs 52W Low 29.41%
Beta 0.48
Impl. Vol. 12.50%
Rel Volume 1.20
Avg Volume 310.80K
Volume 372.68K
Target (mean) $31.00
Tgt Median $30.00
Tgt Low $30.00
Tgt High $34.00
# Analysts 5
Recom Buy
Prev Close $27.34
Price $27.59
Change 0.91%
About

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to small and medium sized businesses and its owners in the United States. It accepts various deposit products, such as noninterest demand deposits, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit. The company also offers commercial business loans, including lines of credit, term equipment financing and term owner-occupied, and non-owner occupied CRE loans; real estate construction and land development loans, as well as residential construction loans, and commercial and multifamily construction loans; residential real estate loans; and originate loans that are guaranteed by the U.S. SBA, and secured and unsecured consumer loans and lines of credit. In addition, it provides investment advice, online banking, online statements, mobile banking with mobile deposit, Visa debit cards, and access. The company was formerly known as Heritage Financial Corporation, M.H.C. and changed its name to Heritage Financial Corporation in 1998. Heritage Financial Corporation was founded in 1927 and is headquartered in Olympia, Washington.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$31.00
Mean price target
2. Current target
$27.59
Latest analyst target
3. DCF / Fair value
$30.60
Fallback: EPS × 15 (assumed fair P/E). No FCF data; use with …
Ratings
Current target
$27.59
Low
$30.00
High
$34.00
Mean
$31.00

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-27 main Piper Sandler Overweight → Overweight $32
2026-04-02 main Piper Sandler Overweight → Overweight $34
2026-02-05 main Piper Sandler Overweight → Overweight $35
2026-01-26 main Stephens & Co. Equal-Weight → Equal-Weight $30
2026-01-23 main DA Davidson Buy → Buy $32
2025-09-29 main DA Davidson Buy → Buy $29
2025-09-29 main Keefe, Bruyette & Woods Market Perform → Market Perform $28
2025-09-26 main DA Davidson Buy → Buy $28
2025-04-28 main Piper Sandler Overweight → Overweight $31
2025-04-28 main Keefe, Bruyette & Woods Market Perform → Market Perform $26
2024-10-29 main Stephens & Co. Equal-Weight → Equal-Weight $26
2024-10-28 main Piper Sandler Overweight → Overweight $28
2024-07-29 main Piper Sandler Overweight → Overweight $26
2024-07-26 main Keefe, Bruyette & Woods Market Perform → Market Perform $23
2024-06-26 main Keefe, Bruyette & Woods Market Perform → Market Perform $20
2024-03-13 reit Stephens & Co. Equal-Weight → Equal-Weight $22
2024-01-26 main DA Davidson Buy → Buy $23
2024-01-26 main Keefe, Bruyette & Woods Market Perform → Market Perform $22
2023-07-28 main Stephens & Co. Equal-Weight → Equal-Weight $20
2023-04-24 main Piper Sandler — → Overweight $25
News
RSS: Latest HFWA news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-16 ROBISON SABRINA C Officer — 4,038 — —
2026-03-16 HENNING THOMAS J Officer — 5,116 $24.89 $127,337
2026-03-16 GLASBY WILLIAM Chief Technology Officer — 5,291 $24.89 $131,693
2026-03-16 CHALFANT TONY Officer — 3,128 — —
2026-03-16 RAY MATTHEW T Officer — 4,516 $24.89 $112,403
2026-03-16 CURRAN AMY E. Officer — 5,040 — —
2026-03-16 WILSON KELLI ANN Officer — 3,818 $24.89 $95,030
2026-03-16 HINSON DONALD J Chief Financial Officer — 3,685 — —
2026-03-16 MCDONALD BRYAN D President — 4,991 — —
2026-02-11 CHALFANT TONY Officer — 4,668 $27.65 $129,065
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
246.14
+13.51%
216.84
-11.07%
243.82
-2.07%
248.98
Operating Revenue
246.14
+13.51%
216.84
-11.07%
243.82
-2.07%
248.98
Selling General And Administration
108.48
+5.55%
102.78
-2.42%
105.33
+10.00%
95.75
Selling And Marketing Expense
1.25
+26.62%
0.99
-48.81%
1.93
+17.47%
1.64
General And Administrative Expense
107.23
+5.35%
101.79
-1.56%
103.39
+9.87%
94.11
Salaries And Wages
104.02
+5.58%
98.53
-1.55%
100.08
+8.68%
92.09
Other Gand A
—
—
—
—
Reconciled Depreciation
2.13
-34.08%
3.23
-42.34%
5.60
+81.30%
3.09
Total Unusual Items
0.01
-99.48%
1.55
+77500.00%
0.00
-99.57%
0.47
Total Unusual Items Excluding Goodwill
0.01
-99.48%
1.55
+77500.00%
0.00
-99.57%
0.47
Net Income
67.53
+56.11%
43.26
-29.95%
61.76
-24.57%
81.88
Pretax Income
78.60
+50.41%
52.26
-28.33%
72.92
-26.67%
99.44
Net Interest Income
224.41
+7.18%
209.36
-7.01%
225.16
+2.63%
219.38
Interest Expense
89.83
-10.48%
100.35
+69.19%
59.31
+634.76%
8.07
Interest Income
314.24
+1.46%
309.71
+8.88%
284.46
+25.06%
227.46
Gain On Sale Of Security
-10.74
+52.77%
-22.74
-85.94%
-12.23
-4677.73%
-0.26
Tax Provision
11.07
+23.00%
9.00
-19.35%
11.16
-36.45%
17.56
Tax Rate For Calcs
0.00
-18.02%
0.00
+12.42%
0.00
-13.37%
0.00
Tax Effect Of Unusual Items
0.00
-99.58%
0.27
+87136.60%
0.00
-99.63%
0.08
Net Income Including Noncontrolling Interests
67.53
+56.11%
43.26
-29.95%
61.76
-24.57%
81.88
Net Income From Continuing Operation Net Minority Interest
67.53
+56.11%
43.26
-29.95%
61.76
-24.57%
81.88
Net Income From Continuing And Discontinued Operation
67.53
+56.11%
43.26
-29.95%
61.76
-24.57%
81.88
Net Income Continuous Operations
67.53
+56.11%
43.26
-29.95%
61.76
-24.57%
81.88
Normalized Income
67.53
+60.88%
41.97
-32.03%
61.75
-24.22%
81.49
Net Income Common Stockholders
67.53
+56.11%
43.26
-29.95%
61.76
-24.57%
81.88
Diluted EPS
—
1.24
-29.14%
1.75
-24.24%
2.31
Basic EPS
—
1.26
-28.41%
1.76
-24.46%
2.33
Basic Average Shares
—
34.47
-2.86%
35.48
+1.08%
35.10
Diluted Average Shares
—
34.90
-1.64%
35.48
+0.05%
35.46
Diluted NI Availto Com Stockholders
67.53
+56.11%
43.26
-29.95%
61.76
-24.57%
81.88
Amortization
1.17
-28.41%
1.64
-32.62%
2.43
-11.49%
2.75
Amortization Of Intangibles Income Statement
1.17
-28.41%
1.64
-32.62%
2.43
-11.49%
2.75
Depreciation Amortization Depletion Income Statement
1.17
-28.41%
1.64
-32.62%
2.43
-11.49%
2.75
Depreciation And Amortization In Income Statement
1.17
-28.41%
1.64
-32.62%
2.43
-11.49%
2.75
Insurance And Claims
3.21
-1.63%
3.26
-1.57%
3.31
+64.37%
2.02
Occupancy And Equipment
18.88
-2.12%
19.29
+0.69%
19.16
+9.68%
17.46
Other Non Interest Expense
32.77
+2.17%
32.08
-9.59%
35.48
+9.16%
32.50
Professional Expense And Contract Services Expense
4.26
+69.30%
2.52
-40.50%
4.23
+69.28%
2.50
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
6,967.35
-1.96%
7,106.28
-0.96%
7,174.96
+2.79%
6,980.10
Cash And Cash Equivalents
233.09
+99.05%
117.10
-47.95%
224.97
+117.18%
103.59
Cash Financial
52.59
-10.60%
58.82
+5.32%
55.85
-24.83%
74.30
Other Short Term Investments
534.43
-30.08%
764.39
-32.61%
1,134.35
-14.80%
1,331.44
Receivables
19.28
-1.04%
19.48
-0.18%
19.52
+5.24%
18.55
Accounts Receivable
19.28
-1.04%
19.48
-0.18%
19.52
+5.24%
18.55
Prepaid Assets
—
—
—
296.18
Net PPE
74.69
+4.34%
71.58
-4.43%
74.90
-2.64%
76.93
Gross PPE
119.23
+6.30%
112.16
+1.02%
111.03
+0.72%
110.24
Accumulated Depreciation
-44.54
-9.76%
-40.58
-12.32%
-36.13
-8.47%
-33.31
Land And Improvements
20.80
+11.12%
18.72
+0.00%
18.72
-4.31%
19.57
Buildings And Improvements
68.43
+5.90%
64.62
+1.00%
63.99
-2.84%
65.85
Machinery Furniture Equipment
30.00
+4.08%
28.82
+1.74%
28.32
+14.10%
24.82
Goodwill And Other Intangible Assets
242.92
-0.48%
244.09
-0.67%
245.73
-0.98%
248.17
Goodwill
240.94
+0.00%
240.94
+0.00%
240.94
+0.00%
240.94
Other Intangible Assets
1.98
-37.23%
3.15
-34.22%
4.79
-33.68%
7.23
Investments And Advances
1,281.63
-12.68%
1,467.68
-21.67%
1,873.80
-10.68%
2,097.84
Total Liabilities Net Minority Interest
6,045.85
-3.15%
6,242.75
-1.25%
6,321.70
+2.26%
6,182.21
Payables And Accrued Expenses
—
—
—
189.30
Current Accrued Expenses
—
—
—
189.30
Long Term Debt And Capital Lease Obligation
42.35
-89.54%
405.06
-22.37%
521.76
+2329.87%
21.47
Long Term Debt
42.35
-89.54%
405.06
-22.37%
521.76
+2329.87%
21.47
Stockholders Equity
921.50
+6.71%
863.53
+1.20%
853.26
+6.94%
797.89
Common Stock Equity
921.50
+6.71%
863.53
+1.20%
853.26
+6.94%
797.89
Capital Stock
531.10
-0.11%
531.67
-3.29%
549.75
-0.48%
552.40
Common Stock
531.10
-0.11%
531.67
-3.29%
549.75
-0.48%
552.40
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
33.96
-0.08%
33.99
-2.62%
34.91
-0.57%
35.11
Ordinary Shares Number
33.96
-0.08%
33.99
-2.62%
34.91
-0.57%
35.11
Retained Earnings
421.62
+8.92%
387.10
+2.95%
375.99
+8.87%
345.35
Gains Losses Not Affecting Retained Earnings
-31.21
+43.50%
-55.24
+23.78%
-72.48
+27.42%
-99.85
Other Equity Adjustments
-31.21
+43.50%
-55.24
+23.78%
-72.48
+27.42%
-99.85
Total Equity Gross Minority Interest
921.50
+6.71%
863.53
+1.20%
853.26
+6.94%
797.89
Total Capitalization
963.85
-24.02%
1,268.59
-7.74%
1,375.03
+67.82%
819.37
Invested Capital
963.85
-24.02%
1,268.59
-7.74%
1,375.03
+67.82%
819.37
Total Debt
42.35
-89.54%
405.06
-22.37%
521.76
+2329.87%
21.47
Net Debt
—
287.96
-2.98%
296.79
—
Net Tangible Assets
678.59
+9.55%
619.43
+1.96%
607.53
+10.51%
549.73
Tangible Book Value
678.59
+9.55%
619.43
+1.96%
607.53
+10.51%
549.73
Available For Sale Securities
73.09
—
—
—
Cash Cash Equivalents And Federal Funds Sold
233.09
+99.05%
117.10
-47.95%
224.97
+117.18%
103.59
Held To Maturity Securities
674.11
-4.15%
703.28
-4.89%
739.44
-3.52%
766.40
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
94.82
+47.04%
64.48
-41.12%
109.52
+15.95%
94.46
Cash Flow From Continuing Operating Activities
94.82
+47.04%
64.48
-41.12%
109.52
+15.95%
94.46
Net Income From Continuing Operations
67.53
+56.11%
43.26
-29.95%
61.76
-24.57%
81.88
Depreciation Amortization Depletion
2.13
-34.08%
3.23
-42.34%
5.60
+81.30%
3.09
Depreciation
0.96
-39.91%
1.59
-49.81%
3.17
+829.62%
0.34
Amortization Cash Flow
1.17
-28.41%
1.64
-32.62%
2.43
-11.49%
2.75
Depreciation And Amortization
2.13
-34.08%
3.23
-42.34%
5.60
+81.30%
3.09
Amortization Of Intangibles
1.17
-28.41%
1.64
-32.62%
2.43
-11.49%
2.75
Other Non Cash Items
0.79
+104.28%
-18.43
-196.85%
19.03
+168.17%
7.10
Stock Based Compensation
4.94
+13.79%
4.34
+0.44%
4.33
+13.97%
3.79
Asset Impairment Charge
—
—
—
—
Deferred Tax
-17.94
-17.32%
-15.29
-15.81%
-13.20
-1615.96%
0.87
Deferred Income Tax
-17.94
-17.32%
-15.29
-15.81%
-13.20
-1615.96%
0.87
Operating Gains Losses
10.74
-49.42%
21.24
+88.30%
11.28
+1433.10%
-0.85
Gain Loss On Investment Securities
10.74
-52.77%
22.74
+85.94%
12.23
+4677.73%
0.26
Investing Cash Flow
186.75
+317.40%
-85.90
+8.07%
-93.45
+92.26%
-1,207.78
Cash Flow From Continuing Investing Activities
186.75
+317.40%
-85.90
+8.07%
-93.45
+92.26%
-1,207.78
Net PPE Purchase And Sale
-9.10
-169.51%
-3.38
+67.20%
-10.30
-163.38%
-3.91
Purchase Of PPE
-9.16
-164.70%
-3.46
+66.66%
-10.38
-158.37%
-4.02
Sale Of PPE
0.05
-35.80%
0.08
+3.85%
0.08
-26.42%
0.11
Capital Expenditure
-9.16
-164.70%
-3.46
+66.66%
-10.38
-158.37%
-4.02
Net Investment Purchase And Sale
207.31
-48.97%
406.23
+64.98%
246.22
+125.55%
-963.53
Purchase Of Investment
-88.17
-166.11%
-33.13
+81.43%
-178.40
+85.18%
-1,203.71
Sale Of Investment
295.48
-32.75%
439.36
+3.47%
424.62
+76.80%
240.17
Net Business Purchase And Sale
0.00
0.00
+100.00%
-13.83
0.00
Purchase Of Business
0.00
0.00
+100.00%
-13.83
0.00
Gain Loss On Sale Of Business
0.00
0.00
+100.00%
-0.61
0.00
Net Other Investing Changes
-33.05
-36.77%
-24.16
+30.72%
-34.88
-129.67%
-15.19
Financing Cash Flow
-165.58
-91.53%
-86.45
-182.10%
105.31
+120.80%
-506.38
Cash Flow From Continuing Financing Activities
-165.58
-91.53%
-86.45
-182.10%
105.31
+120.80%
-506.38
Net Issuance Payments Of Debt
-363.00
-210.26%
-117.00
-123.40%
500.00
0.00
Issuance Of Debt
536.40
-63.23%
1,458.74
-22.81%
1,889.70
+3675.62%
50.05
Repayment Of Debt
-899.40
+42.92%
-1,575.74
-13.39%
-1,389.70
-2676.62%
-50.05
Long Term Debt Issuance
536.40
-63.23%
1,458.74
-22.81%
1,889.70
+3675.62%
50.05
Long Term Debt Payments
-899.40
+42.92%
-1,575.74
-13.39%
-1,389.70
-2676.62%
-50.05
Net Long Term Debt Issuance
-363.00
-210.26%
-117.00
-123.40%
500.00
0.00
Net Common Stock Issuance
-5.52
+75.39%
-22.42
-221.45%
-6.97
-118.21%
-3.20
Common Stock Payments
-5.52
+75.39%
-22.42
-221.45%
-6.97
-118.21%
-3.20
Common Stock Dividend Paid
-32.65
-2.75%
-31.78
-3.10%
-30.82
-4.51%
-29.49
Cash Dividends Paid
-32.65
-2.75%
-31.78
-3.10%
-30.82
-4.51%
-29.49
Repurchase Of Capital Stock
-5.52
+75.39%
-22.42
-221.45%
-6.97
-118.21%
-3.20
Proceeds From Stock Option Exercised
—
—
—
0.00
Changes In Cash
115.99
+207.52%
-107.87
-188.87%
121.38
+107.49%
-1,619.70
Beginning Cash Position
117.10
-47.95%
224.97
+117.18%
103.59
-93.99%
1,723.29
End Cash Position
233.09
+99.05%
117.10
-47.95%
224.97
+117.18%
103.59
Free Cash Flow
85.66
+40.38%
61.02
-38.45%
99.15
+9.63%
90.44
Interest Paid Supplemental Data
90.14
-19.67%
112.22
+143.25%
46.13
+498.46%
7.71
Income Tax Paid Supplemental Data
2.69
+52.09%
1.77
-44.65%
3.20
-36.48%
5.04
Amortization Of Securities
24.66
+24.19%
19.85
+20.64%
16.46
—
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