NASDAQ$HFWA

Heritage Financial Corporation · Q1 2025 earnings

Q1 2025 earnings · · Before market open · Investor relations

Briefing

Heritage Financial reported Q1 2025 revenue of $65.0M, net income of $13.9M, diluted EPS of $0.40.

For Q1 2025, Heritage Financial reported Revenue was $65.0M, net income was $13.9M, diluted EPS was $0.40. Management discusses segment trends, liquidity, and outlook in the quarterly filing.

  • Revenue $65.0M for Q1 2025.
  • Net income $13.9M.
  • Diluted EPS $0.40.

Headline financials

Total Revenue

$57.6M

Previous: $48.6M+18.4%
EPS (adj)

$0.40

Previous: $0.16+150.0%
ROAA

0.8%

Previous: 0.3%+139.4%
ROAE

6.5%

Previous: 2.7%+138.5%
ROATCE

9.2%

Previous: 4.1%+126.5%
Net Interest Margin

3.4%

Previous: 3.3%+4.6%
Cost of Total Deposits

1.4%

Previous: 1.2%+16.0%
Efficiency Ratio

71.9%

Previous: 83.0%-13.4%
Adjusted Efficiency Ratio

67.3%

Previous: 68.9%-2.3%
Noninterest Exp./Avg Assets

2.4%

Previous: 2.3%+3.1%
Loans to Deposits

81.5%

Previous: 80.0%+1.9%
Book Value/Share

$25.85

Previous: $24.43+5.8%
Tangible BV/Share

$18.70

Previous: $17.36+7.7%
Equity to Total Assets

12.4%

Previous: 12.0%+3.3%
TCE to Tangible Assets

9.3%

Previous: 8.8%+5.7%
CET1 Ratio

12.2%

Previous: 12.6%-3.2%
Tier 1 Capital Ratio

12.6%

Previous: 13.0%-3.1%
Total Capital Ratio

13.6%

Previous: 13.9%-2.2%
ACL to Loans

1.1%

Previous: 1.1%-2.7%
Net Charge-Offs to Avg Loans

0.0%

Previous: 0.0%
Nonaccrual Loans to Loans

0.1%

Previous: 0.1%-18.2%
NPLs to Loans

0.1%

Previous: 0.2%-47.1%
NPAs to Total Assets

0.1%

Previous: 0.1%-40.0%
Net Interest Spread

2.8%

Previous: 2.7%+4.9%
Capital Expenditures

-$1.17M

Previous: -$893K-31.2%
Net Income

$13.9M

Previous: $5.75M+142.0%
Operating Income

$16.2K

Previous: $13.4M-99.9%

Revenue & EPS history

Heritage Financial · Revenue · Quarterly

$57.6M

Q1 2025+18.4%vs Q1 2024
Beat estimate in 5 of 14 quarters(36%)
ActualEstimate

Revenue by segment

Heritage Financial · $3.43B total across 4 segments · Q1 2020

  • Non-Owner Occupied CRE
    $1.31B
  • Commercial & Industrial
    $890M
  • Owner-Occupied CRE
    $806M
  • Consumer
    $421M

Forward guidance

Regional banks emphasize net interest income, credit quality, and capital returns.

Tailwinds

  • Loan growth and fee income when credit remains stable.
  • Deposit mix and capital support dividends and buybacks.

Headwinds

  • Net interest margin compression if rates fall.
  • Commercial real estate and consumer credit are watch items.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2025

Historical avgQ1 2025

-0.6%

Avg return

Earnings day

-1.2%

Avg return

5 days after

+1.1%

Avg return

30 days after

42%

28 / 66 earnings

Positive

+7.3%

Q4 2025

Best reaction

-10.7%

Q1 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.0%+0.9%-0.6%
Q4 2025+7.3%-1.0%+7.7%
Q3 2025+0.5%+1.7%+1.3%
Q2 2025-0.8%-2.8%+2.1%
Q1 2025+0.0%-0.2%+0.5%
Q4 2024+1.0%+2.6%-1.8%
Q3 2024+2.1%+5.1%+21.2%
Q2 2024+6.0%+6.2%+5.5%
Q1 2024-4.0%-4.7%-1.8%
Q4 2023-1.8%-3.2%-11.4%
Q3 2023+3.3%-1.9%+9.7%
Q2 2023-7.4%-3.4%-5.4%
Q1 2023-1.2%-12.0%-19.7%
Q4 2022+0.5%+1.3%+0.4%
Q3 2022-0.2%+1.5%+5.0%
Q2 2022-4.5%-2.8%+1.8%
Q1 2022+1.3%-0.1%-4.1%
Q4 2021-3.9%-2.6%+4.4%
Q3 2021+1.6%+0.4%-0.2%
Q2 2021-1.6%+0.8%+7.6%
Q1 2021+3.7%+3.7%+6.7%
Q4 2020-1.6%+0.0%+8.0%
Q3 2020+4.1%+1.0%+16.0%
Q2 2020-1.1%-3.1%-4.9%
Q1 2020-10.7%-14.5%-12.7%
Q4 2019-2.0%-4.1%-2.3%
Q3 2019-1.5%+0.9%-1.1%
Q2 2019-4.7%-5.3%-13.1%
Q1 2019-3.0%-3.4%-5.5%
Q4 2018+0.3%+0.5%+5.2%
Q3 2018+5.0%+8.9%+13.7%
Q2 2018-1.5%-5.7%-2.0%
Q1 2018-5.2%-5.2%+2.2%
Q4 2017+2.6%-0.5%+1.6%
Q3 2017+0.3%-1.6%-1.0%
Q2 2017+0.9%+1.9%-0.7%
Q1 2017+3.8%+0.4%-8.0%
Q4 2016-3.0%-4.7%-5.4%
Q3 2016+1.4%+2.8%+27.3%
Q2 2016-3.7%-5.2%-0.5%
Q1 2016+0.5%
Q4 2015+5.0%
Q3 2015-1.3%
Q2 2015-5.9%
Q1 2015-0.2%
Q4 2014-0.1%
Q3 2014-0.8%
Q2 2014+0.8%
Q1 2014-0.3%
Q4 2013-2.5%
Q3 2013+2.7%
Q2 2013-2.6%
Q1 2013-2.1%
Q4 2011+0.8%
Q4 2012-3.9%
Q3 2012-1.3%
Q2 2012+5.0%
Q1 2011+0.7%
Q1 2012+4.3%
Q4 2009-3.7%
Q3 2011-1.6%
Q3 2010-1.6%
Q2 2011-3.5%
Q2 2010-3.5%
Q4 2010-3.5%
Q1 2010-2.2%

Discussion

Share your read of this quarter. Sign-in carries your eToro identity.

Join the conversation

Sign in with eToro to post your read of this quarter and vote on others'.

Sign in with eToro