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Heritage Financial Corp  (HFWA)
Other Ticker:  
 
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
 
Price: $18.1600 $-0.42 -2.260%
Day's High: $18.68 Week Perf: -1.94 %
Day's Low: $ 18.02 30 Day Perf: -11.76 %
Volume (M): 225 52 Wk High: $ 28.22
Volume (M$): $ 4,093 52 Wk Avg: $18.55
Open: $18.50 52 Wk Low: $14.85



 Market Capitalization (Millions $) 638
 Shares Outstanding (Millions) 35
 Employees 717
 Revenues (TTM) (Millions $) 259
 Net Income (TTM) (Millions $) 78
 Cash Flow (TTM) (Millions $) -187
 Capital Exp. (TTM) (Millions $) 11

Heritage Financial Corp

Heritage Financial Corporation is a bank holding company that was incorporated in the State of Washington in August 1997. We were organized for the purpose of acquiring all of the capital stock of Heritage Savings Bank upon our reorganization from the mutual holding company form of organization to the stock holding company form of organization. Effective September 1, 2004, Heritage Savings Bank switched its charter from a state chartered savings bank to a state chartered commercial bank and changed its legal name from Heritage Savings Bank to Heritage Bank (the "Bank"). The Company acquired Central Valley Bank in March 1999 and changed its charter from a nationally chartered commercial bank to a state chartered commercial bank effective September 1, 2005. In 1998, the Company acquired North Pacific Bank. In June 2006, the Company completed the acquisition of Western Washington Bancorp and its wholly owned subsidiary, Washington State Bank, N.A., at which time Washington State Bank, N.A. was merged into Heritage Bank.

Lending activities are conducted through Heritage Bank. Our focus is on commercial business lending. We also originate consumer loans, real estate construction and land development loans and one-to-four family residential loans. Our loans are originated under policies that are reviewed and approved annually by our Board of Directors. In addition, we have established internal lending guidelines that are updated as needed. These policies and guidelines address underwriting standards, structure and rate considerations, and compliance with laws, regulations and internal lending limits. We conduct post-approval reviews on selected loans and routinely perform internal loan reviews of our loan portfolio to check for credit quality, proper documentation and compliance with laws and regulations.

We originate one-to-four family residential construction loans for the construction of custom homes (where the home buyer is the borrower). We also provide financing to builders for the construction of pre-sold homes and, in selected cases, to builders for the construction of speculative residential property. Because of the higher risks present in the residential construction industry, our lending to builders is limited to those who have demonstrated a favorable record of performance and who are building in markets that management understands.

In the ordinary course of business, we enter into various types of transactions that include commitments to extend credit that are not included in our Consolidated Financial Statements. We apply the same credit standards to these commitments as we use in all our lending activities and have included these commitments in our lending risk evaluations. Our exposure to credit loss under commitments to extend credit is represented by the amount of these commitments.

Our business consists primarily of lending and deposit relationships with small businesses and their owners in our market areas, and attracting deposits from the general public. We also make real estate construction and land development loans and consumer loans. The Bank also originates for sale or investment purposes one-to-four family residential loans on residential properties located primarily in western and central Washington State and the greater Portland, Oregon area.

As a result of the Washington Banking Merger, we currently originate indirect consumer loans. These loans are for new and used automobile and recreational vehicles that are originated indirectly by selected dealers located in our market areas. We have limited our indirect loans purchased primarily to dealerships that are established and well known in their market areas and to applicants that are not classified as sub-prime.



   Company Address: 201 Fifth Avenue SW, Olympia 98501 WA
   Company Phone Number: 943-1500   Stock Exchange / Ticker: NASDAQ HFWA
   


Customers Net Income fell by HFWA's Customers Net Profit Margin fell to

-5.8 %

17.2 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
BK        0.24% 
CFG   -3%    
FCNCA        3.9% 
FITB        0.94% 
MTB        1.02% 
NTRS        2.07% 
• View Complete Report
   



Heritage Financial Corp

Heritage Financial Corp Faces Decline in Earnings and Revenue During Q3 of 2023

Heritage Financial Corp (HFWA) recently reported soft earnings for the most recent fiscal period, with a decrease in income and revenue compared to the previous period. The company's income fell by -13.56% to $0.51 per share, while revenue decreased by -3.128% to $62.77 million year on year.
Comparing the earnings to the previous financial reporting period, it is worth noting that revenue actually grew by 2.567% from $61.20 million, and income improved by 6.25% from $0.48 per share. However, in the most recent fiscal period, earnings of $18.219 million fell by -13.2% from $20.990 million in the corresponding period a year before.

Heritage Financial Corp

Heritage Financial Outperforms Sector Peers Despite Mixed Q2 2023 Results; Reveals 5.025% Revenue Spike



Heritage Financial Corp, a renowned regional bank, has experienced a surge in its share value, with a remarkable increase of 17.47% over the past month and 26.02% over the last 12 months. Additionally, the company's shares currently trade 26.3% higher than its 52-week low. While these figures indicate positive market sentiment, it is essential to examine the recent financial results to better understand the potential impacts on the company's future trajectory.
Mixed Financial Results:
In the fiscal three months ending June 30, 2023, Heritage Financial Corp delivered mixed financial results. On one hand, there was a notable revenue increase of 5.025%, amounting to $61.20 million compared to $58.27 million on a year-over-year basis. Conversely, profitability experienced a decline of -7.69%, with earnings per share reaching $0.48, down from $0.52 in the same period of the prior year.

Heritage Financial Corp

Heritage Financial Corp Reports Impressive Revenue Growth in the Latest Fiscal Period2.

Heritage Financial Corp is a regional bank holding company, which engages in the provision of commercial and consumer banking services. The company is headquartered in Olympia, Washington and serves customers in Washington, Oregon, and Idaho. Heritage Financial Corp operates through its subsidiaries, Heritage Bank and Central Valley Bank.
In the most recent fiscal period, Heritage Financial Corp reported revenue of $66.28 million and earnings per share of $0.58. The revenue increase of 12.218% year on year is a significant increase and shows the bank is in a growth phase. However, the slight increase in income of 3.57% is slower than desired.






 

Heritage Financial's Segments
 
 
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