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Heritage Financial Corporation

Heritage Financial Corporation

HFWA · NASDAQ · Financial Services / Banks - Regional

28.25USD+0.04 (+0.14%)

Price History

Full chart

Market Stats

Previous Close28.21
Open28.27
Day Range28.01 – 28.31
52-Week Range20.77 – 30.99
Volume189.06K
Market Cap1.17B
P/E (TTM)13.60
Forward P/E12.33
EPS2.10
Dividend Yield3.54%
Beta0.48
50-Day Avg29.26
200-Day Avg27.36

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.

Company Details

  • SectorFinancial Services
  • IndustryBanks - Regional
  • CEOMr. Bryan D. McDonald
  • Employees976
  • Headquarters201 Fifth Avenue SW, Olympia, WA, United States, 98501, USA
  • Websitehttps://www.hf-wa.com

Leadership

  • Mr. Brian L. VanceIndependent Chairman · b. 1954
  • Mr. Bryan D. McDonaldCEO, President & Director · b. 1972
  • Mr. Donald J. Hinson CPAExecutive VP & CFO · b. 1961
  • Mr. Jeffrey J. DeuelAdvisory to the CEO · b. 1959
  • Mr. Anthony W. ChalfantExecutive VP & Chief Credit Officer · b. 1962
  • Mr. Nicholas M. BleyExecutive Vice President · b. 1974
  • Ms. Kaylene M. Lahn CPASenior VP, Corporate Governance Officer & Corporate Secretary · b. 1972

Financials

Income Statement

Currency: USD1997-12-311998-12-311999-12-312000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue16.80M32.30M40.60M48.43M51.12M46.61M44.31M45.44M52.06M63.19M70.96M65.77M62.01M69.05M79.77M76.30M80.64M137.53M168.01M170.13M183.29M231.02M250.31M251.55M247.45M257.05M303.13M317.19M335.97M
Growth (%)-+92.26%+25.70%+19.29%+5.54%-8.82%-4.92%+2.54%+14.56%+21.39%+12.30%-7.32%-5.72%+11.35%+15.53%-4.34%+5.69%+70.54%+22.16%+1.26%+7.73%+26.04%+8.35%+0.49%-1.63%+3.88%+17.93%+4.64%+5.92%
Cost of Revenue-12.00M13.50M20.19M19.75M12.06M8.46M7.86M12.36M20.18M26.58M26.03M31.04M20.50M21.01M6.55M7.40M10.28M10.49M10.94M12.57M17.54M22.48M49.43M-22.33M6.65M63.59M106.63M92.61M
Gross Profit-20.30M27.10M28.24M31.36M34.55M35.86M37.58M39.70M43.01M44.38M39.75M30.97M48.55M58.76M69.75M73.25M127.25M157.51M159.19M170.72M213.48M227.83M202.12M269.78M250.40M239.54M210.56M243.35M
Gross Margin-62.85%66.75%58.32%61.36%74.13%80.91%82.70%76.26%68.06%62.54%60.43%49.95%70.31%73.66%91.42%90.83%92.53%93.76%93.57%93.14%92.41%91.02%80.35%109.02%97.41%79.02%66.38%72.43%
Operating Expense-13.60M18.70M19.32M20.62M20.25M22.22M23.27M24.18M27.08M28.29M30.42M30.89M28.76M49.60M50.31M59.08M99.33M106.21M106.47M110.58M149.19M146.79M148.94M149.27M150.97M166.62M158.30M165.57M
Operating Income-6.70M8.40M8.92M10.74M14.29M13.63M14.31M15.52M15.92M16.09M9.33M78.00K19.79M9.15M19.44M14.17M27.92M51.31M52.72M60.15M64.30M81.05M53.18M120.51M99.44M72.92M52.26M77.79M
Operating Margin-20.74%20.69%18.42%21.01%30.67%30.76%31.49%29.81%25.20%22.68%14.18%0.13%28.66%11.47%25.48%17.57%20.30%30.54%30.99%32.82%27.83%32.38%21.14%48.70%38.68%24.05%16.48%23.15%
EBITDA16.70M7.90M10.70M11.18M13.04M16.07M15.50M16.02M17.29M17.61M17.71M10.57M1.30M22.06M11.78M24.16M20.12M42.72M67.37M66.84M72.14M85.74M99.16M53.09M101.88M102.53M78.52M55.49M79.64M
EBITDA Margin99.40%24.46%26.35%23.08%25.52%34.48%34.97%35.25%33.21%27.87%24.96%16.07%2.09%31.95%14.76%31.66%24.95%31.06%40.10%39.29%39.36%37.11%39.61%21.11%41.17%39.89%25.90%17.49%23.70%
Net Income3.60M4.30M5.40M5.97M6.96M9.42M8.90M9.59M10.48M10.55M10.71M6.35M581.00K13.35M6.52M13.26M9.57M21.01M37.49M38.92M41.79M53.06M67.56M46.57M98.03M81.88M61.76M43.26M67.53M
Net Income Margin21.43%13.31%13.30%12.33%13.62%20.22%20.09%21.09%20.12%16.69%15.09%9.66%0.94%19.34%8.17%17.38%11.87%15.28%22.31%22.88%22.80%22.97%26.99%18.51%39.62%31.85%20.37%13.64%20.10%
R&D--------------00000000-------
R&D as % of Total Revenue--------------0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%-------
Interest Expense10.10M11.90M13.10M19.40M18.56M10.22M7.33M7.22M11.55M19.46M25.77M18.61M11.64M8.51M6.58M4.53M3.72M5.68M6.12M6.01M8.35M12.41M18.17M13.32M7.04M8.07M59.31M100.35M89.83M
Interest Expense % of Total Revenue60.12%36.84%32.27%40.06%36.31%21.94%16.55%15.88%22.18%30.80%36.31%28.29%18.78%12.33%8.25%5.94%4.62%4.13%3.64%3.53%4.55%5.37%7.26%5.30%2.85%3.14%19.57%31.64%26.74%

Balance Sheet

Currency: USD1997-12-311998-12-311999-12-312000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets415.90M415.90M511.00M573.53M609.64M594.59M640.92M697.27M751.15M852.89M886.05M946.14M1.01B1.37B1.37B1.35B1.66B3.46B3.65B3.88B4.11B5.32B5.55B6.62B7.43B6.98B7.17B7.11B6.97B
Total Liabilities322.00M322.00M415.70M490.52M531.12M522.19M578.69M636.32M685.03M774.25M801.09M833.00M856.36M1.17B1.17B1.15B1.44B19.08M19.42M99.32M112.51M20.30M20.59M20.89M21.18M21.47M6.32B6.24B6.05B
Total Equity93.90M93.90M95.30M83.00M78.53M72.40M62.23M60.94M66.12M78.64M84.97M113.15M158.50M202.28M202.52M198.94M215.76M3.44B3.63B3.78B4.00B5.30B5.53B6.59B7.41B6.96B853.26M863.53M921.50M
Cash74.60M74.60M18.50M21.46M45.78M37.99M27.93M19.34M28.00M26.43M34.46M60.63M107.23M167.00M123.76M107.09M146.06M131.76M133.36M103.75M103.02M161.91M228.57M743.32M1.72B103.59M224.97M117.10M52.59M
Total Debt1.10M700.00K2.80M24.13M8.00M-31.10M40.90M79.80M40.54M16.94M-10.44M19.03M23.09M16.02M29.42M70.34M62.60M121.42M144.33M51.79M45.61M60.12M76.77M72.81M521.76M405.06M42.35M
Net Debt-73.50M-73.90M-15.70M2.66M-37.78M-37.99M3.17M21.56M51.80M14.11M-17.52M-60.63M-96.79M-147.97M-100.67M-91.06M-116.64M-112.68M-113.94M-4.43M9.49M-141.61M-207.97M-722.43M-1.70B-82.12M296.79M287.96M-10.24M

Cash Flow

Currency: USD1997-12-311998-12-311999-12-312000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow4.00M7.80M15.20M4.58M8.56M8.13M19.15M15.38M13.20M10.53M13.22M15.48M9.87M27.07M20.87M27.88M30.90M51.34M51.40M53.98M73.51M90.41M87.61M70.33M69.53M94.46M109.52M64.48M94.82M
Investing Cash Flow--25.20M-95.80M-61.62M-6.08M9.11M-66.12M-69.77M-53.59M-51.40M-26.71M-41.14M-34.03M243.76M-61.77M-3.50M-16.59M-121.65M-216.62M-252.93M-241.39M-109.60M-120.43M-538.55M163.76M-1.21B-93.45M-85.90M186.75M
Financing Cash Flow84.00M89.30M30.40M57.86M26.83M-22.07M36.55M44.20M43.05M39.30M21.52M51.83M70.76M-209.07M-4.82M-43.28M11.83M61.55M170.23M176.05M167.15M78.08M99.47M982.97M746.68M-506.38M105.31M-86.45M-165.58M
Capital Expenditure400.00K700.00K2.40M2.32M1.18M833.00K1.30M1.16M738.00K1.37M728.00K2.16M1.98M6.91M3.13M3.86M5.21M3.94M1.82M6.72M3.06M23.27M13.04M7.00M3.02M4.02M10.38M3.46M9.16M
Free Cash Flow3.60M7.10M12.80M2.27M7.38M7.30M17.84M14.22M12.46M9.16M12.49M13.32M7.89M20.16M17.74M24.02M25.69M47.40M49.58M47.26M70.45M67.15M74.57M63.33M66.51M90.44M99.15M61.02M85.66M
Dividends Paid300.00K300.00K2.40M2.86M3.18M3.54M3.73M3.74M4.29M5.07M5.56M3.75M1.85M1.17M5.91M12.15M6.67M12.89M15.92M21.57M18.30M25.79M30.91M28.86M28.94M29.49M30.82M31.78M32.65M
FCF to OCF90.00%91.03%84.21%49.42%86.20%89.76%93.19%92.47%94.41%86.99%94.49%86.04%79.96%74.46%85.02%86.16%83.15%92.33%96.46%87.55%95.83%74.27%85.12%90.05%95.66%95.75%90.53%94.64%90.34%
Dividend Paid to FCF8.33%4.23%18.75%126.35%43.07%48.44%20.91%26.33%34.43%55.33%44.52%28.13%23.50%5.82%33.31%50.60%25.97%27.20%32.10%45.64%25.98%38.41%41.45%45.57%43.51%32.61%31.09%52.07%38.11%

Earnings

Report DateMar 31, 1998Jul 28, 1998Jan 25, 1999Mar 31, 1999Jul 28, 1999Oct 21, 1999Jan 26, 2000Apr 19, 2000Jul 19, 2000Oct 16, 2000Jan 30, 2001Apr 26, 2001Jul 24, 2001Oct 25, 2001Jan 23, 2002Apr 24, 2002Jul 23, 2002Oct 23, 2002Jan 22, 2003Apr 29, 2003Jul 22, 2003Oct 21, 2003Jan 29, 2004Jun 1, 2004Jul 28, 2004Oct 27, 2004Jan 26, 2005Apr 27, 2005Jul 25, 2005Oct 25, 2005Jan 24, 2006Apr 26, 2006Jul 25, 2006Oct 24, 2006Jan 23, 2007Apr 25, 2007Jul 24, 2007Oct 24, 2007Jan 24, 2008Apr 23, 2008Jul 22, 2008Oct 23, 2008Jan 27, 2009Apr 29, 2009Jul 29, 2009Oct 27, 2009Jan 28, 2010May 3, 2010Aug 2, 2010Nov 1, 2010Jan 27, 2011May 3, 2011Jul 28, 2011Oct 28, 2011Feb 1, 2012Apr 27, 2012Jul 25, 2012Oct 30, 2012Jan 30, 2013Apr 24, 2013Jul 23, 2013Oct 23, 2013Jan 29, 2014Apr 29, 2014Jul 24, 2014Oct 23, 2014Jan 29, 2015Apr 23, 2015Jul 23, 2015Oct 22, 2015Jan 28, 2016Apr 21, 2016Jul 21, 2016Oct 27, 2016Jan 26, 2017Apr 26, 2017Jul 26, 2017Oct 26, 2017Jan 25, 2018Apr 26, 2018Jul 25, 2018Oct 25, 2018Jan 24, 2019Apr 25, 2019Jul 25, 2019Oct 24, 2019Jan 23, 2020Apr 30, 2020Jul 23, 2020Oct 22, 2020Jan 28, 2021Apr 22, 2021Jul 22, 2021Oct 21, 2021Jan 27, 2022Apr 21, 2022Jul 21, 2022Oct 20, 2022Jan 26, 2023Apr 20, 2023Jul 20, 2023Oct 19, 2023Jan 25, 2024Apr 25, 2024Jul 25, 2024Oct 24, 2024Jan 23, 2025Apr 24, 2025Jul 24, 2025Oct 23, 2025Jan 22, 2026Apr 23, 2026Jul 23, 2026Oct 22, 2026
EPS Estimate-0.120.12-0.110.100.120.140.140.150.160.170.160.200.220.260.270.270.320.330.290.310.320.31-0.360.370.410.420.400.430.450.430.410.440.390.370.400.420.390.380.400.350.31-0.07-0.010.010.030.040.030.220.140.120.140.150.160.200.210.220.220.230.230.230.200.220.280.260.300.310.300.290.290.310.320.330.320.320.350.370.390.440.470.480.490.490.470.460.310.170.380.470.530.510.530.460.380.450.510.640.600.480.430.450.410.400.410.440.450.500.550.560.570.540.57
EPS Actual0.110.110.100.100.100.120.150.140.150.160.170.160.190.250.270.280.290.320.320.280.300.350.330.330.360.390.390.400.390.430.420.400.390.430.380.360.390.440.420.400.380.330.01-0.11-0.04-0.000.040.030.050.150.770.050.110.120.140.270.210.190.200.190.180.210.170.190.310.230.290.290.290.320.320.300.300.370.330.310.390.350.420.390.370.500.470.450.430.480.470.31-0.180.460.660.700.900.580.550.560.520.590.640.580.480.510.440.160.410.330.340.400.530.560.660.590.57-
Surprise--8.33%-16.67%--9.09%20.00%25.00%0.00%7.14%6.67%6.25%-5.88%18.75%25.00%22.73%7.69%7.41%18.52%0.00%-15.15%3.45%12.90%3.13%7.68%-8.33%5.41%-2.44%-7.14%7.50%-2.33%-11.11%-9.30%4.88%-13.64%-7.69%5.41%10.00%0.00%2.56%0.00%-17.50%-97.14%-135.48%42.86%75.00%300.00%0.00%25.00%400.00%250.00%-64.29%-8.33%-14.29%-6.67%68.75%5.00%-9.52%-9.09%-13.64%-21.74%-8.70%-26.09%-5.00%40.91%-17.86%11.54%-3.33%-6.45%6.67%10.34%3.45%-3.23%15.63%0.00%-3.13%21.88%0.00%13.51%0.00%-15.91%6.38%-2.08%-8.16%-12.24%2.13%2.17%0.00%-205.88%21.05%40.43%32.08%76.47%9.43%19.57%47.37%15.56%15.69%0.00%-3.33%0.00%18.60%-2.22%-60.98%2.50%-19.51%-22.73%-11.11%6.00%1.82%17.86%3.51%5.56%-
Timing-----After-hoursAfter-hoursAfter-hours---After-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hours--After-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursPre-market-Pre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursPre-marketAfter-hoursPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-market

Key Statistics & Ratios

Market Cap1.17B
Enterprise Value1.15B
Trailing P/E13.60
Forward P/E12.33
PEG Ratio2.13
Price / Sales3.96
Price / Book1.04
EPS2.10
Book Value27.13
Revenue (TTM)295.08M
Gross Profit (TTM)295.08M
Profit Margin26.40%
Operating Margin28.93%
Return on Equity7.80%
Return on Assets1.01%
Shares Outstanding40.92M
Shares Float40.28M
Beta0.48
Dividend Yield3.54%
Dividend Rate1.00
Payout Ratio40.76%

Analyst Ratings

Buy
Based on 6 analystsTarget 32.80
  • Strong Buy
    1
  • Buy
    1
  • Hold
    4

Ownership Breakdown

Institutions
82.20%
Insiders
1.40%
Retail / Other
16.40%

Top Institutional Holders

  • BlackRock Inc
    5.56M13.59%
  • Jennison Associates LLC
    3.54M8.65%
  • Victory Capital Management Inc.
    2.36M5.77%
  • Dimensional Fund Advisors, Inc.
    2.04M5.00%
  • Vanguard Capital Management, LLC
    1.85M4.52%
  • State Street Corp
    1.80M4.39%
  • AllianceBernstein L.P.
    1.14M2.80%
  • Geode Capital Management, LLC
    934.80K2.28%
  • Basswood Capital Management LLC
    689.01K1.68%
  • Boston Partners Global Investors, Inc
    677.11K1.65%
  • Vanguard Portfolio Management, LLC
    653.69K1.60%
  • Wellington Management Company LLP
    528.11K1.29%
  • Morgan Stanley - Brokerage Accounts
    479.83K1.17%
  • Algebris Investment Management (UK) LLP
    469.40K1.15%

Top Fund Holders

  • iShares Core S&P Small-Cap ETF
    2.50M6.12%
  • Victory Sycamore Small Company Opp R
    1.79M4.39%
  • PGIM Jennison Small Company A
    1.67M4.07%
  • Vanguard MStar Total Stk Mkt Idx Invest
    1.33M3.24%
  • iShares Russell 2000 ETF
    1.08M2.65%
  • DFA US Small Cap Value I
    481.59K1.18%

Dividends

20264×
0.25Nov 4, 20260.25Aug 5, 20260.24May 6, 20260.24Jan 28, 2026
20254×
0.24Nov 5, 20250.24Aug 6, 20250.24May 7, 20250.24Feb 6, 2025
20244×
0.23Nov 6, 20240.23Aug 7, 20240.23May 7, 20240.23Feb 7, 2024
20234×
0.22Oct 31, 20230.22Aug 1, 20230.22May 3, 20230.22Feb 7, 2023
20224×
0.21Nov 1, 20220.21Aug 2, 20220.21May 3, 20220.21Feb 8, 2022
20214×
0.21Nov 2, 20210.20Aug 3, 20210.20May 4, 20210.20Feb 9, 2021

Stock Splits

  • Sep 28, 200521:20