Loading…
Heritage Financial Corp
Heritage Financial Corp (HFWA) is listed on NASDAQ and classified in Banks - Regional, part of the Financial Services sector. It is headquartered in Olympia, United States and has 976 employees. The company is worth $1.17B and trades at 13.2x its earnings of the last twelve months; the median for its sector is 13.2x. Revenue was $246.14M in fiscal 2025, up 13.5% from the year before. Net income was $67.53M. The share price is 8.7% below its 52-week high of $31.25. It pays a dividend yielding 3.51%, and has raised its annual dividend for 5 years in a row in our records. 4 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Two Sigma (Two Sigma Investments), at $11.53M. In that quarter, 3 of them reduced the position. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +17.6% over 5Y.
today you would have $1,352.09▲ +35.2%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 17 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $23.65 | $24.50 | $21.39 | $30.64 | $24.44 | $23.39 | $28.30 | $29.72 | $30.80 | $25.75 | $18.84 | $17.55 | $17.10 | $14.69 | $12.56 | $13.92 | $13.78 | |
| P/E |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 8.7% a year plus a 3.5% dividend yield. Growth capped at 25%.
Median P/E of 13.2 among peers in the sector.
Median P/E of 16.2 across this company’s own years on record.
Cash flow growing 8.7% a year for 10 years, discounted at 10%, then 2.5% forever.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Dividend growing 5.1% a year against a 7.0% required return, from the stock’s beta.
Companies of similar size in Financial Services, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| UVSPUNIVEST FINANCIAL Corp | $42.28 | 12.2x | 1.2x | 2.18% | 10.52% | $1.17B |
| JCAPJefferson Capital, Inc. | $20.53 | 22.6x | 2.5x | 4.68% | 34.95% | $1.18B |
| ASBHAmerican Savings Bank, N.A. Common Stock | $18.14 | — | — | 0.00% | — | $1.18B |
| MCBMetropolitan Bank Holding Corp. |
| 16.2x |
| 12.1x |
| 19.8x |
| 12.2x |
| 13.3x |
| 9.0x |
| 18.1x |
| 15.5x |
| 19.9x |
| 22.2x |
| 19.8x |
| 15.1x |
| 2140.2x |
| 1710.0x |
| 16.9x |
| 29.9x |
| 13.4x |
| — |
| P/S | 3.6x | 4.0x | 3.8x | 3.1x | 4.3x | 3.6x | 3.5x | 4.4x | 5.0x | 6.0x | 4.7x | 3.5x | 4.0x | 3.6x | 3.1x | 2.6x | 3.1x | 2.2x |
| P/B | 1.1x | 1.1x | 1.0x | 0.9x | 1.3x | 1.0x | 1.0x | 1.3x | 1.4x | 2.1x | 1.6x | 1.2x | 1.2x | 1.3x | 1.1x | 1.0x | 1.1x | 0.7x |
| EPS | $1.96 | $1.24 | $1.75 | $2.31 | $2.73 | $1.29 | $1.83 | $1.49 | $1.39 | $1.30 | $1.25 | $0.01 | $0.01 | $0.87 | $0.42 | $1.04 | -$0.10 |
| Dividend yield | 2.91% | 4.06% | 3.76% | 4.11% | 2.74% | 3.31% | 3.42% | 2.97% | 2.42% | 1.98% | 2.80% | 2.81% | 2.85% | 2.46% | 3.95% | 3.03% | — | 0.73% |
| Payout | 50.29% | 48.98% | 74.19% | 50.29% | 36.36% | 29.67% | 62.02% | 45.90% | 48.32% | 43.88% | 55.38% | 42.40% | 6097.56% | 4200.00% | 66.67% | 90.48% | — | — |
| Profit margin | 23.16% | 27.44% | 19.95% | 25.33% | 32.88% | 40.78% | 19.55% | 29.10% | 24.27% | 23.89% | 23.71% | 23.16% | 15.93% | 12.38% | 18.46% | 8.89% | 19.13% | 1.16% |
| ROE | 6.97% | 7.33% | 5.01% | 7.24% | 10.26% | 11.47% | 5.68% | 8.35% | 6.97% | 8.22% | 8.08% | 7.98% | 4.62% | 4.44% | 6.67% | 3.22% | 6.60% | 0.37% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
6 methods answered, across 3 families.
Room for errors in the reported numbers.
+56.4% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| $95.90 |
| 9.5x |
| 1.2x |
| 1.67% |
| 13.12% |
| $1.19B |
| WDWalker & Dunlop, Inc. | $34.68 | 31.0x | 0.7x | 7.84% | 2.36% | $1.19B |
| AMTBAmerant Bancorp Inc. | $28.96 | 20.8x | 1.2x | 1.24% | 6.13% | $1.13B |