Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Search

Heritage Financial Corporation (HFWA)

Company Dividend Discount ModelIndustry: Banks - RegionalSector: Financial Services

Valuation Snapshot

Stable Growth$25.45 - $47.83$34.54
Multi-Stage$28.93 - $31.64$30.26
Blended Fair Value$32.40
Current Price$24.19
Upside33.94%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS0.56%9.44%0.920.890.850.840.840.900.750.530.630.46
YoY Growth--3.10%4.51%1.91%0.27%-6.63%19.84%40.90%-15.13%35.52%23.46%
Dividend Yield--3.79%4.71%3.99%3.35%2.96%4.48%2.44%1.73%2.53%2.63%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)57.22
(-) Cash Dividends Paid (M)32.35
(=) Cash Retained (M)24.87
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)11.447.154.29
Cash Retained (M)24.8724.8724.87
(-) Cash Required (M)-11.44-7.15-4.29
(=) Excess Retained (M)13.4217.7220.58
(/) Shares Outstanding (M)34.5034.5034.50
(=) Excess Retained per Share0.390.510.60
LTM Dividend per Share0.940.940.94
(+) Excess Retained per Share0.390.510.60
(=) Adjusted Dividend1.331.451.53
WACC / Discount Rate8.21%8.21%8.21%
Growth Rate2.85%3.85%4.85%
Fair Value$25.45$34.54$47.83
Upside / Downside5.19%42.79%97.71%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)57.2259.4361.7164.0966.5669.1271.19
Payout Ratio56.54%63.23%69.92%76.62%83.31%90.00%92.50%
Projected Dividends (M)32.3537.5843.1549.1055.4562.2165.85

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate8.21%8.21%8.21%
Growth Rate2.85%3.85%4.85%
Year 1 PV (M)34.3934.7235.06
Year 2 PV (M)36.1436.8537.56
Year 3 PV (M)37.6438.7539.88
Year 4 PV (M)38.9040.4342.01
Year 5 PV (M)39.9441.9243.98
PV of Terminal Value (M)811.02851.23893.01
Equity Value (M)998.041,043.911,091.50
Shares Outstanding (M)34.5034.5034.50
Fair Value$28.93$30.26$31.64
Upside / Downside19.60%25.10%30.80%

High-Yield Dividend Screener

« Prev Page 33 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
2948.TWOBausen Inc.4.66%$1.7780.08%
600368.SSGuangxi Wuzhou Communications Co., Ltd.4.66%$0.1845.90%
688606.SSHangzhou Alltest Biotech Co., Ltd.4.66%$2.9879.11%
CHG-R.BKChularat Hospital Public Company Limited4.66%$0.0796.65%
CRT-UN.TOCT Real Estate Investment Trust4.66%$0.7646.43%
KWC.BKKrungdhep Sophon Public Company Limited4.66%$12.4880.34%
QNT.WAQuantum Software S.A.4.66%$1.7748.50%
TOUP.PATouax SCA4.66%$0.2220.71%
002948.SZBank of Qingdao Co., Ltd.4.65%$0.2125.26%
175330.KSJB Financial Group Co., Ltd.4.65%$1,171.1832.82%
ATRAV.HEAtria Oyj4.65%$0.7045.12%
INSET.BKInfraset Public Company Limited4.65%$0.0893.21%
OMAB.MXGrupo Aeroportuario del Centro Norte, S.A.B. de C.V.4.65%$11.2781.96%
TCO.AXTransmetro Corporation Limited4.65%$0.1027.59%
TCO0.DETesco PLC4.65%$0.2458.23%
2748.TWFDC International Hotels Corporation4.64%$2.0087.06%
600351.SSYabao Pharmaceutical Group Co., Ltd4.64%$0.3094.39%
6345.TAichi Corporation4.64%$63.5566.53%
7030.SRMobile Telecommunications Company Saudi Arabia4.64%$0.4967.65%
293480.KSHana Pharm Co., Ltd.4.63%$510.7544.31%
ALFPC.PAFountaine Pajot S.A.4.63%$4.7715.78%
EKTR3.SAElektro Redes S.A.4.63%$2.2847.37%
002749.SZSichuan Guoguang Agrochemical Co., Ltd.4.62%$0.6275.36%
0ROG.LGalenica AG4.62%$4.5160.87%
2534.TWHung Sheng Construction Ltd.4.62%$0.9640.22%
600757.SSChangjiang Publishing & Media Co.,Ltd4.62%$0.4144.68%
8976.TDaiwa Office Investment Corporation4.62%$17,319.0261.76%
BBTN.JKPT Bank Tabungan Negara (Persero) Tbk4.62%$53.5723.29%
SICO.JKPT Sigma Energy Compressindo Tbk4.62%$6.0046.65%
016360.KSSamsung Securities Co., Ltd.4.61%$3,499.8033.25%
603967.SSChina Master Logistics Co., Ltd.4.61%$0.6384.73%
ERAA.JKPT Erajaya Swasembada Tbk4.61%$19.0029.20%
FCR-UN.TOFirst Capital Real Estate Investment Trust4.61%$0.8771.15%
HELN.SWHelvetia Holding AG4.61%$9.6376.62%
SAUCE.BKThaitheparos Public Company Limited4.61%$1.7986.46%
SFSN.SWSFS Group AG4.61%$5.0039.88%
256150.KQHandok Clean Tech Co., Ltd.4.60%$251.5861.57%
600066.SSYutong Bus Co.,Ltd.4.60%$1.5066.89%
6369.TToyo Kanetsu K.K.4.60%$114.2124.14%
AUI.AXAustralian United Investment Company Limited4.60%$0.5263.93%
EXAE.ATHellenic Exchanges - Athens Stock Exchange S.A.4.60%$0.2978.34%
0837.HKCarpenter Tan Holdings Limited4.59%$0.3624.98%
ANSGR.ISAnadolu Anonim Türk Sigorta Sirketi4.59%$1.0517.19%
GLVA.JKPT Galva Technologies Tbk4.59%$19.2060.20%
TEAMG.BKTEAM Consulting Engineering and Management Public Company Limited4.59%$0.1556.43%
UMG.ASUniversal Music Group N.V.4.59%$1.0144.97%
5293.KLAME Elite Consortium Berhad4.58%$0.0740.76%
6534.TWCH Biotech R&D Co., Ltd.4.58%$4.1095.94%
6817.TSumida Corporation4.58%$52.4586.38%
AUDCAudioCodes Ltd.4.58%$0.4082.97%