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Last $17.22 USD
Change Today -0.50 / -2.82%
Volume 61.4K
As of 8:10 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

heritage financial corp (HFWA) Snapshot

Open
$17.42
Previous Close
$17.72
Day High
$17.55
Day Low
$17.14
52 Week High
07/22/15 - $18.74
52 Week Low
02/2/15 - $15.44
Market Cap
515.8M
Average Volume 10 Days
66.4K
EPS TTM
$1.15
Shares Outstanding
30.0M
EX-Date
08/4/15
P/E TM
15.0x
Dividend
$0.44
Dividend Yield
3.31%
Current Stock Chart for HERITAGE FINANCIAL CORP (HFWA)

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heritage financial corp (HFWA) Details

Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to small businesses and general public. The company accepts various deposit products, such as non-interest demand accounts, negotiable order of withdrawal accounts, money market accounts, savings accounts, and certificates of deposit. Its loan portfolio includes commercial and industrial loans, one-to-four family residential loans, real estate construction and land development loans, consumer loans, business lines of credit, and term equipment financing, as well as commercial loans to real estate related industries and businesses in agricultural, healthcare, legal, and other professions. As of July 23, 2015, the company had a network of 66 branches located in Washington and Oregon. 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 1994 and is headquartered in Olympia, Washington.

748 Employees
Last Reported Date: 03/11/15
Founded in 1994

heritage financial corp (HFWA) Top Compensated Officers

Chief Executive Officer, President, Executive...
Total Annual Compensation: $449.5K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $247.7K
Executive Vice President, President of Herita...
Total Annual Compensation: $271.6K
President of Central Valley Bank
Total Annual Compensation: $200.0K
Chief Lending Officer and Executive Vice Pres...
Total Annual Compensation: $255.0K
Compensation as of Fiscal Year 2014.

heritage financial corp (HFWA) Key Developments

Heritage Financial Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Announces Quarterly Cash Dividend, Payable on August 20, 2015

Heritage Financial Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total interest income of $33.990 million compared to $30.023 million a year ago. Net interest income was $32.470 million compared to $28.596 million a year ago. Income before income taxes was $12.083 million compared to $5.692 million a year ago. Net income was $8.725 million or $0.29 per diluted share compared to $4.148 million or $0.16 per diluted share a year ago. Return on average assets, annualized was 1.01% compared to 0.59% a year ago. Return on average equity, annualized was 7.57% compared to 4.49% a year ago. For six months, the company reported total interest income of $68.239 million compared to $47.636 million a year ago. Net interest income was $65.144 million compared to $45.337 million a year ago. Income before income taxes was $25.856 million compared to $9.503 million a year ago. Net income was $18.504 million or $0.61 per diluted share compared to $6.691 million or $0.32 per diluted share a year ago. Return on average assets, annualized was 1.08% compared to 0.6% a year ago. Return on average equity, annualized was 8.08% compared to 4.58% a year ago. On July 22, 2015, the Company's Board of Directors declared a quarterly cash dividend of $0.11 per common share payable on August 20, 2015 to shareholders of record on August 6, 2015.

Heritage Financial Seeks Acquisitions

Heritage Financial Corporation (NasdaqGS:HFWA) is seeking acquisitions. Brian Vance, Heritage Financial's President and Chief Executive Officer, said "While there's still some improvements in efficiencies and a variety of things that we're focused on, I think we should or were we to be presented with an opportunity, we would be prepared to move ahead with acquisition opportunities."

Heritage Financial Corp. Opens New Downtown Seattle Office; Announces New Appointments

Heritage Financial Corp. announced the opening of a new downtown Seattle office located at 1420 5th Ave, Suite 3600. The company also announced the addition of three new members to the Seattle team including Amy Curran, Randy Robinson and Dave Purcell. Amy Curran joins Heritage as Senior Vice President & Team Leader with more than 30 years of experience in the banking industry in King County. Most recently Amy held the position of Regional Lending Manager for a large regional bank. Randy Robinson joins Heritage as Senior Vice President & Community Development Lender. Randy also has over 30 years of experience in the banking industry in the King County region, most recently working for a large regional bank. Dave Purcell joins Heritage as the Senior Vice President responsible for developing new Capital Markets Group, also to the team who comes to Heritage with 25 years of experience in banking in the Pacific Northwest with a large regional bank.

 

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Industry Analysis

HFWA

Industry Average

Valuation HFWA Industry Range
Price/Earnings 16.4x
Price/Sales 3.4x
Price/Book 1.1x
Price/Cash Flow 16.2x
TEV/Sales 2.6x
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