What is the 13F Pro Quality Score for HFWA?

13F Pro ranks HERITAGE FINANCIAL CORP /WA/ (HFWA) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View HFWA's current score at https://13fpro.ai/company/HFWA (free sign-up required for the full ranking).

Which hedge funds own the most HFWA stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of HFWA include BlackRock,, JENNISON ASSOCIATES, VICTORY CAPITAL MANAGEMENT. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/HFWA as soon as new 13F filings post.

Where does 13F Pro source HFWA data?

All HERITAGE FINANCIAL CORP /WA/ fundamentals and ownership data come directly from SEC EDGAR. HERITAGE FINANCIAL CORP /WA/ files with the SEC under CIK 1046025. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is HFWA in?

HERITAGE FINANCIAL CORP /WA/ (HFWA) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

What drives HFWA's revenue?

Per HERITAGE FINANCIAL CORP /WA/'s latest 10-Q filed with the SEC on 2026-08-07, the biggest revenue drivers are: Net interest income ($74.8M, +36.1% YoY); Noninterest income ($9.3M, +513.8% YoY); Service charges and other fees ($3.6M, +22.5% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/HFWA.

What are HFWA's largest expenses?

HERITAGE FINANCIAL CORP /WA/'s latest 10-Q reports these as the largest expense items: Compensation and employee benefits ($35.8M, +40.5% YoY); Data processing ($10.2M, +178.7% YoY); Occupancy and equipment ($6.0M, +24.3% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

How often is HFWA research updated on 13F Pro?

HFWA's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

HERITAGE FINANCIAL CORP /WA/(HFWA)Stock Analysis

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13F Pro Quality Score

61.0/100

Rank #821 of 2,962 stocksTOP 50%

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

67.3/100

Profitability

89.3/100

Balance Sheet

42.3/100

Earnings Quality

45.9/100

Free Cash Flow

81.1/100

Institutional Flow

40.4/100

Revenue Scale

29.1/100

Dilution Risk

94.7/100

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Why HFWA Scores 61/100

exact factor attribution · 2026-09-11

HFWA's composite is driven by profitability and free cash flow, held back by scale and capital efficiency. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Profitability

+7.9 pts

89th pct

Free cash flow

+4.7 pts

81th pct

Revenue growth

+4.6 pts

67th pct

Shareholder dilution

+3.0 pts

95th pct

Earnings growth

+1.4 pts

72th pct

Earnings quality

-0.4 pts

46th pct

Institutional flow

-0.6 pts

40th pct

Capital efficiency

-1.0 pts

42th pct

Scale

-4.2 pts

29th pct

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

HFWA Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for HERITAGE FINANCIAL CORP /WA/ (HFWA), a Financials sector company. 13F Pro's AI-powered ranking engine scores HFWA at 61.0/100 on a 32-signal composite quality model, placing it at rank #821 of 2,962 stocks — the top half of the AI-ranked universe. HFWA scores in the top quartile across profitability (89.3), free cash flow (81.1). Areas of concern include revenue scale (29.1), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), HERITAGE FINANCIAL CORP /WA/ reports quarterly revenue of $84.1M, net income of $17.5M, free cash flow of $21.1M. Top institutional holders of HFWA by reported 13-F value include BlackRock, JENNISON ASSOCIATES, VICTORY CAPITAL MANAGEMENT, based on the most recent SEC filings. HFWA trades on the Nasdaq exchange and files with the SEC under CIK 1046025. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate HFWA daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for HERITAGE FINANCIAL CORP /WA/ directly from SEC EDGAR. HERITAGE FINANCIAL CORP /WA/'s 13F Pro composite quality score has ranged between 37 and 65 since 2026, currently 61.0 — an improving long-term trajectory across 8 quarterly and live scoring snapshots.

✦

Fun facts about HERITAGE FINANCIAL CORP /WA/

Quirks, history, and lore behind HFWA — the kind of stuff that makes a stock memorable.

1
The Basics
A community bank holding company · small-cap · listed on Nasdaq · rooted firmly in the Pacific Northwest.
2
The Numbers
Total assets in the range of $7–8 billion — big enough to matter in its region, small enough that Wall Street barely notices. Pays a consistent dividend that income investors quietly love.
3
The History
Built largely through acquisitions of smaller community banks across Washington and Oregon over several decades — one deal at a time, no splashy megamergers.
4
The Secret
Its bread and butter is commercial real estate lending and business banking for the small and mid-sized companies that keep the Evergreen State humming.
5
The Lore
Headquartered in Olympia, Washington — the state capital — it's the kind of bank where the branch manager might actually know your name, a vanishing art in modern finance.
6
The Giveaway
Its ticker is HFWA, the "/WA/" in its legal name is a nod to Washington State, and the word "Heritage" signals exactly the old-school community banking identity it's never tried to outgrow.

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What's Driving HFWA's Business? Latest 10-Q Breakdown

✓ 29/29 datapoints verified

AI-extracted from HERITAGE FINANCIAL CORP /WA/'s 10-Q filed 2026-08-07 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Net income rose 43.6% YoY to $17.5M ($0.42 diluted EPS) as the Olympic Bancorp acquisition drove net interest income up 36.1% and NIM to 3.99%, partly offset by $7.5M of merger-related expenses.

Biggest Revenue Drivers

Net interest income$74.8M+36.1% YoY

Increased primarily due to an increase in average interest earning assets, which increased substantially as a result of the Merger

Noninterest income$9.3M+513.8% YoY

Loss on sale of securities fell to $217K from $6.9M; service charges, card revenue and BOLI income rose on business acquired from Olympic

Biggest Revenue Drivers

Total revenue: $84.1M+49% YoY

Net interest income$74.8M+36.1% YoY

Increased primarily due to an increase in average interest earning assets, which increased substantially as a result of the Merger

Noninterest income$9.3M+513.8% YoY

Loss on sale of securities fell to $217K from $6.9M; service charges, card revenue and BOLI income rose on business acquired from Olympic

Within Noninterest income

Service charges and other fees$3.6M+22.5% YoY

Income from the deposit portfolio acquired from Olympic

Card revenue$2.6M+29.2% YoY

Income from the deposit portfolio acquired from Olympic

Largest Expense Items

Compensation and employee benefits$35.8M+40.5% YoY

Increased headcount and severance expense related to the Merger

Data processing$10.2M+178.7% YoY

Increase in transactional accounts and balances; includes $4.9M of Merger-related core conversion costs

Occupancy and equipment$6.0M+24.3% YoY

Additional rent expense from the Merger

Amortization of intangible assets$3.0M+879.1% YoY

Core deposit intangibles recorded in connection with the Olympic Merger

Margins: Net interest margin rose 48 bps YoY to 3.99% on higher average loan balances and loan yield (5.72%, +22 bps) from the Merger, aided by 12 bps of incremental purchased-loan accretion; deposit costs fell 27 bps to 1.67% on lower-cost Olympic deposits.

Watch Items from the Filing

Merger integration costs totaled $7.5M in Q2 and $12.7M year-to-date, with goodwill rising to $279.0M and a new $47.3M core deposit intangible tied to the Olympic acquisition.
Uninsured deposits were approximately $2.75 billion, or 39.1% of total deposits, at June 30, 2026.
Nonaccrual loans declined to $15.5M (0.27% of loans receivable) from $20.98M (0.44%) at December 31, 2025.
Non-owner occupied CRE loans represent $2.51 billion, or 43.6% of total loans receivable, within a commercial-business-loan-concentrated portfolio.
ACL on loans as a percentage of loans receivable declined to 1.03% from 1.10% at year-end 2025, even as the Company recorded a $921K reversal of provision for credit losses in the quarter.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$84.1M

Net Income

Q2 2026

$17.5M

Free Cash Flow

Q2 2026

$21.1M

ROIC

Q2 2026

7.5%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+13.5% YoY

$246.1MFY 2025

FY22 $249.0MFY23 $243.8MFY24 $216.8MFY25 $246.1M

Net Income

+56.1% YoY

$67.5MFY 2025

FY22 $81.9MFY23 $61.8MFY24 $43.3MFY25 $67.5M

EPS (Diluted)

+58.1% YoY

$1.96FY 2025

FY22 $2.31FY23 $1.75FY24 $1.24FY25 $1.96

Total Assets

-2.0% YoY

$6.97BFY 2025

FY22 $6.98BFY23 $7.17BFY24 $7.11BFY25 $6.97B

Op. Cash Flow

+47.0% YoY

$94.8MFY 2025

FY22 $94.5MFY23 $109.5MFY24 $64.5MFY25 $94.8M

Free Cash Flow

+40.4% YoY

$85.7MFY 2025

FY22 $90.4MFY23 $99.1MFY24 $61.0MFY25 $85.7M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$246.1M +13.5%	$216.8M -11.1%	$243.8M -2.1%	$249.0M +3.6%	$240.4M +0.9%	$238.2M
Net Income	$67.5M +56.1%	$43.3M -30.0%	$61.8M -24.6%	$81.9M -16.5%	$98.0M +110.5%	$46.6M
EPS (Diluted)	$1.96 +58.1%	$1.24 -29.1%	$1.75 -24.2%	$2.31 -15.4%	$2.73 +111.6%	$1.29
Total Assets	$6.97B -2.0%	$7.11B -1.0%	$7.17B +2.8%	$6.98B -6.1%	$7.43B +12.4%	$6.62B
Operating Cash Flow	$94.8M +47.0%	$64.5M -41.1%	$109.5M +16.0%	$94.5M +35.8%	$69.5M -1.1%	$70.3M
Free Cash Flow	$85.7M +40.4%	$61.0M -38.5%	$99.1M +9.6%	$90.4M +36.0%	$66.5M +5.0%	$63.3M

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Available Research

13F Pro tracks comprehensive data for HERITAGE FINANCIAL CORP /WA/ including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of HFWA

BlackRock, Inc.
$172.1M5,811,114 sh
JENNISON ASSOCIATES LLC
$104.8M3,538,159 sh
VICTORY CAPITAL MANAGEMENT INC
$69.9M2,360,915 sh
DIMENSIONAL FUND ADVISORS LP
$60.6M2,044,399 sh
STATE STREET CORP
$58.7M1,982,257 sh
VANGUARD CAPITAL MANAGEMENT LLC
$54.3M1,834,712 sh
GEODE CAPITAL MANAGEMENT, LLC
$32.7M1,103,769 sh
ALLIANCEBERNSTEIN L.P.
$29.5M1,136,479 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$22.2M749,714 sh
BASSWOOD CAPITAL MANAGEMENT, L.L.C.
$20.4M689,010 sh

Fund	Value	Shares
BlackRock, Inc.	$172.1M	5,811,114
JENNISON ASSOCIATES LLC	$104.8M	3,538,159
VICTORY CAPITAL MANAGEMENT INC	$69.9M	2,360,915
DIMENSIONAL FUND ADVISORS LP	$60.6M	2,044,399
STATE STREET CORP	$58.7M	1,982,257
VANGUARD CAPITAL MANAGEMENT LLC	$54.3M	1,834,712
GEODE CAPITAL MANAGEMENT, LLC	$32.7M	1,103,769
ALLIANCEBERNSTEIN L.P.	$29.5M	1,136,479
VANGUARD PORTFOLIO MANAGEMENT LLC	$22.2M	749,714
BASSWOOD CAPITAL MANAGEMENT, L.L.C.	$20.4M	689,010

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Is HFWA a good stock to buy?

13F Pro's AI-powered analysis of HERITAGE FINANCIAL CORP /WA/ (HFWA) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for HFWA are available on the HFWA stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. HFWA is classified as a small company.

Which hedge funds own HFWA?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling HFWA. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of HERITAGE FINANCIAL CORP /WA/'s investment landscape.