Is Heritage Financial (HFWA) overvalued or fairly valued?

MarketChacha shows Heritage Financial's valuation in context — a trailing P/E of about 16.8, a forward P/E of about 10.8, a price-to-book of about 1.1 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Heritage Financial's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.56×) from reported figures — education, not a rating.

What is the share price of Heritage Financial (HFWA)?

Heritage Financial last traded at $30.08 (-1.1% on the day), as of 7/22/2026 — a delayed quote shown for education, not investment advice.

Heritage Financial

HFWA · NYSE · Financials · United States

$30.08-1.1%

Delayed · as reported by Yahoo Finance · as of Jul 22, 2026, 7:31 PM

Snapshot

TickerHFWA

ExchangeNYSE

SectorFinancials

IndustryBanks - Regional

CountryUnited States

Employees905

HeadquartersOlympia, United States

Market cap$1.2B

P/E (TTM)16.8

P/B1.1

Volume293.87K

Websitewww.hf-wa.com

Filings tracked5

About Heritage Financial

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.

Profile as reported by Yahoo Finance.

Who owns it

Insiders1.4%
Institutions80.8%
Public & other17.7%

265 institutional holders

As reported by Yahoo Finance.

Top holders

Blackrock Inc.13.49%
Jennison Associates LLC7.80%
Victory Capital Management Inc.5.99%
Dimensional Fund Advisors LP4.75%
Vanguard Capital Management LLC4.48%
State Street Corporation4.36%
Alliancebernstein L.P.2.78%
Geode Capital Management, LLC2.27%

Largest institutional holders, as reported by Yahoo Finance (as of 3/31/2026).

Forensic scorecard

Latest ROE of 7.3% is on the low side — the business earns a modest return on shareholder capital.

Cash conversion1.56×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Return on equity7.3%

Latest ROE of 7.3% is on the low side — the business earns a modest return on shareholder capital.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $88.2M · EPS 0.59

Est. earnings growth +5.9%

Next fiscal year

Rev $371.3M · EPS 2.80

Est. earnings growth +17.1%

Analyst consensus estimates — not the company's own guidance. As reported by Yahoo Finance.

$21.3252-wk range$31.25

Delayed · as reported by Yahoo Finance

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Market cap

$1.2B

Day change

-1.1%

P/E (TTM)

16.8

Fwd P/E

10.8

P/B

1.1

Div yield

3.16%

Beta

0.49

ROE

7.3%

Profit CAGR (2y)

+4.6%

EPS (FY2025)

1.96

Net profit (FY2025)

$67.5M

Market figures: Delayed · as reported by Yahoo Finance. Financials as reported in company filings.

Ask MarketChacha about HFWA

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Financials

Yearly

Period	Net profit	EPS	ROE
FY2025	$67.5M	1.96	7.3%
FY2024	$43.3M	1.24	5.0%
FY2023	$61.8M	1.75	7.2%

Quarterly

Period	Net profit	EPS
2026Q1	$18.9M	0.48
2025Q3	$19.2M	0.55
2025Q2	$12.2M	0.36
2025Q1	$13.9M	0.40
2024Q3	$11.4M	0.33
2024Q2	$14.2M	0.41
2024Q1	$5.7M	0.16
2023Q3	$18.2M	0.51
2023Q2	$16.8M	0.48
2023Q1	$20.5M	0.58

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Shareholder vote results
SEC5/8/2026material
10-Q filing
SEC5/8/2026
8-K — Results of operations, Reg FD disclosure, Other events, Exhibits
SEC4/23/2026material
8-K/A — Exhibits
SEC4/10/2026
8-K — Other events
SEC3/23/2026material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed · as reported by yahoo finance) are delayed and shown for reference only. Verify with the linked sources before acting.