Fact based stock research
Heritage Financial (NasdaqGS:HFWA)

US42722X1063

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

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Heritage Financial stock research in summary

hf-wa.com

ANALYSIS: With an Obermatt Combined Rank of 73 (better than 73% compared with investment alternatives), Heritage Financial (Regional Banks, USA) shares have above-average financial characteristics compared with similar stocks. Shares of Heritage Financial are a good value (attractively priced) with a consolidated Value Rank of 67 (better than 67% of alternatives), show above-average growth (Growth Rank of 68) but are riskily financed (Safety Rank of 41), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 73, is a buy recommendation based on Heritage Financial's financial characteristics. As the company Heritage Financial's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 67) and above-average growth (Obermatt Growth Rank of 68), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 41) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	67
Growth Rank	68
Safety Rank	41
Combined Rank	73

Country	USA
Industry	Regional Banks
Index	Sound Pay USA, NASDAQ
Size class	X-Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Heritage Financial

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	37	63	57	67
GROWTH
GROWTH	10	22	81	68
SAFETY
SAFETY	57	53	45	41
SENTIMENT
SENTIMENT	31	53	81	^new
360° VIEW
360° VIEW	13	39	92	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Heritage Financial is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	37	63	57	67
GROWTH
GROWTH	10	22	81	68
SAFETY
SAFETY	57	53	45	41
COMBINED
COMBINED	12	34	88	73

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Heritage Financial the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 67 (better than 67% compared with alternatives), Heritage Financial shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, where three out of four indicators are above average for Heritage Financial. Price-to-Sales (P/S) is 52 which means that the stock price compared with what market professionals expect for future sales is lower than for 52% of comparable companies, indicating a good value for Heritage Financial's revenue size. The same is valid for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 76. Finally, compared with other companies in the same industry, dividend yields of Heritage Financial are expected to be higher than for 79% of all competitors (a Dividend Yield rank of 79). The only low rank is for expected profits with a Price-to-Profit Rank of 40, indicating that the market expects the company's profit to be low despite a high dividend. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 67, is a buy recommendation based on Heritage Financial's stock price compared with the company's operational size and dividend yields. The low Profit Rank could result from a one-off charge, for instance, for an accident, a legal settlement, or a restructuring project. If the company keeps its dividends high, the low expected profit may be transitory. If that is the case, the three good value ranks for Sales, Capital, and Dividends are reliable indicators for good stock price value, a low stock price. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	50	53	47	52
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	11	36	34	40
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	64	77	68	76
DIVIDEND YIELD
DIVIDEND YIELD	49	78	78	79
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	37	63	57	67

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Heritage Financial; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 68 (better than 68% compared with alternatives), Heritage Financial shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with all but one indicator above average for Heritage Financial. Sales Growth has a rank of 60 which means that currently, professionals expect the company to grow more than 60% of its competitors. Both Profit Growth, with a rank of 88, and Stock Returns, with a rank of 53, are also above average. But Capital Growth only has a rank of 13, which means that, currently, professionals expect the company to grow its invested capital less than 87% of its competitors. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 68, is a buy recommendation for growth and momentum investors. That may be a good sign if the company is already well positioned and doesn't require more investments at this time. They may focus on growing the top (revenues) and bottom (profits) lines, recently rewarded with above-average stock returns for shareholders. But it may also be a sign of danger as the company is falling back with capital investment activities concerning competition. This requires further analysis of corporate communications. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	6	52	61	60
PROFIT GROWTH
PROFIT GROWTH	84	39	90	88
CAPITAL GROWTH
CAPITAL GROWTH	18	41	22	13
STOCK RETURNS
STOCK RETURNS	11	11	73	53
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	10	22	81	68

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Heritage Financial.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 41 (better than 41% compared with alternatives), the company Heritage Financial has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Heritage Financial is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above average for Heritage Financial. Leverage is at a rank of 70, meaning the company has a below-average debt-to-equity ratio. It has less debt than 70% of its competitors. Liquidity is also good at a rank of 53, meaning the company generates more profit to service its debt than 53% of its competitors. This indicates that the company is on the safer side when it comes to debt service. But Refinancing is lower at a rank of 8, which means that the portion of the debt that is about to be refinanced is above-average. It has more debt in the refinancing stage than 92% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 41 (worse than 59% compared with alternatives), Heritage Financial has a financing structure that is riskier than that of its competitors. The refinancing issues could be a short-term problem, especially if the company has reputation issues. Banks and investors don't like to refinance debt if there are clouds on the horizon. For this reason, investors should look at the refinancing environment for Heritage Financial. Does it look safe that debt that is coming due can be covered with new debt? If that is the case, then the financing situation of the company is on the safer side. If not, it may be better to wait until refinancing has been completed and the Refinancing rank is good again. Investors may have a short-term debt challenge with Heritage Financial and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	48	64	54	70
REFINANCING
REFINANCING	27	12	16	8
LIQUIDITY
LIQUIDITY	81	79	71	53
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	57	53	45	41

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Heritage Financial and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	45	20	^new
OPINIONS CHANGE
OPINIONS CHANGE	23	50	97	^new
PRO HOLDINGS
PRO HOLDINGS	81	70	84	^new
MARKET PULSE
MARKET PULSE	48	42	82	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	31	53	81	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Heritage Financial.
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