Heritage Financial Management
Management criteria checks 3/4
Heritage Financial's CEO is Bryan McDonald, appointed in May 2025, has a tenure of 1.08 years. total yearly compensation is $1.35M, comprised of 45.4% salary and 54.6% bonuses, including company stock and options. directly owns 0.085% of the company’s shares, worth $1.01M. The average tenure of the management team and the board of directors is 5.9 years and 5.5 years respectively.
Key information
Bryan McDonald
Chief executive officer
US$1.3m
Total compensation
| CEO salary percentage | 45.38% |
| CEO tenure | 1.1yrs |
| CEO ownership | 0.09% |
| Management average tenure | 5.9yrs |
| Board average tenure | 5.5yrs |
Recent management updates
Recent updates
HFWA: Future Returns Will Depend On Credit Costs And P/E Rerating
Heritage Financial's analyst price target has been reduced by $2, as analysts factor in updated views reflected in recent Street research while keeping key valuation assumptions broadly unchanged. What's in the News Heritage Financial Corporation reported net charge offs of $552,000 for the quarter ended March 31, 2026, compared with $299,000 for the same quarter a year earlier, according to a recent key developments filing.HFWA: Future Upside Will Rely On Executing Profitability And P/E ReRating
Analysts have reduced their price target on Heritage Financial by $0.40 to $30.60, citing updated assumptions for fair value, discount rate, revenue, profit margin, and future P/E. Analyst Commentary Recent research has focused on how updated assumptions for fair value, discount rate, revenue, profit margin, and future P/E feed into the revised price target for Heritage Financial.HFWA: Future Returns Will Depend On Earnings Supporting A Higher P/E
Narrative update on Heritage Financial The analyst price target for Heritage Financial has moved slightly higher to $31.00, with analysts pointing to updated views on fair value, profit margins and forward P/E assumptions as they refine their models following recent Street research. Analyst Commentary Street research on Heritage Financial has featured several recent price target changes, including both increases and a reduction, as analysts update their assumptions on fair value, profit margins and P/E multiples.HFWA: Future Upside Will Rely On Earnings Supporting A Higher P/E Multiple
Heritage Financial's analyst price target has been reduced by $0.60 as analysts adjust their outlook in light of recent research updates and modest changes to fair value and forward P/E assumptions. Analyst Commentary Recent Street research around Heritage Financial has centered on a series of price target revisions, with several bullish analysts lifting their targets by $2 to $3 and more cautious voices trimming theirs by about $1.HFWA: Future Upside Will Depend On Earnings Power Supporting Higher P/E
Analyst price targets on Heritage Financial have increased by $2 to $3, with firms citing updated views on valuation and earnings power as key reasons for the change. Analyst Commentary Recent research notes on Heritage Financial point to a cluster of higher price targets, with analysts updating their views on valuation and earnings power.HFWA: Future Upside Will Rely On Higher P/E Confidence Holding
Heritage Financial's consensus analyst price target has increased by a few dollars per share, as several firms raised their targets in recent research, with analysts attributing the change to updated P/E assumptions and revised views on the company’s earnings profile. Analyst Commentary Recent research updates cluster around modest price target increases, with several firms adjusting their models by US$2 to US$3 per share after revisiting P/E assumptions and earnings expectations for Heritage Financial.HFWA: Future Upside Will Hinge On Successful Olympic Bancorp Merger
The analyst price target for Heritage Financial has been adjusted slightly to $31.40. Analysts attribute the change to updated fair value estimates, a refined P/E assumption, and modest tweaks to margin expectations.HFWA: Higher Fair Value Will Depend On Successful Olympic Bancorp Merger
Analysts have raised their price target on Heritage Financial by about $1.55 to $31.75, reflecting updated assumptions related to fair value, discount rate, revenue growth, profit margin, and future P/E estimates. Analyst Commentary Recent Street research on Heritage Financial has centered on refreshed price targets and updated models, with analysts revisiting their views on fair value, earnings power, and risk.HFWA: Raised Fair Value Will Rely On Executing Planned Merger
Analysts have lifted their price target on Heritage Financial to US$30.20 from US$28.00, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E. Analyst Commentary Recent Street research has centered on how the new US$30.20 price target lines up with Heritage Financial’s earnings power, risk profile, and potential execution on its business plans.Heritage Financial's (NASDAQ:HFWA) Dividend Will Be $0.24
The board of Heritage Financial Corporation ( NASDAQ:HFWA ) has announced that it will pay a dividend on the 20th of...Heritage Financial Q1: Still Sitting On The Sidelines
Summary Despite a 39.8% stock increase, I maintain a "Hold" rating on Heritage Financial Corporation shares due to high uninsured deposit exposure and mediocre asset quality. Q1 2025 showed revenue and earnings growth, but fell short of analysts' expectations, causing a 1.5% drop in share price. Heritage Financial's balance sheet shows rising deposits and reduced debt, but office asset exposure and high vacancy rates are concerning. HFWA stock trades at a higher P/E multiple than preferred, and asset quality metrics fall below my thresholds, making it a mediocre investment. Read the full article on Seeking AlphaHeritage Financial Corporation Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
Heritage Financial Corporation ( NASDAQ:HFWA ) just released its latest quarterly report and things are not looking...
Expanding Loan Operations And Strategic Balance Sheet Management Set To Boost Earnings Growth
Heritage Financial's strategic focus on expanding loans and deposits aims to boost its asset base and net interest income.Heritage Financial's (NASDAQ:HFWA) Dividend Will Be Increased To $0.23
Heritage Financial Corporation ( NASDAQ:HFWA ) will increase its dividend from last year's comparable payment on the...CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | US$73m |
| Dec 31 2025 | US$1m | US$611k | US$68m |
| Sep 30 2025 | n/a | n/a | US$57m |
| Jun 30 2025 | n/a | n/a | US$49m |
| Mar 31 2025 | n/a | n/a | US$51m |
| Dec 31 2024 | US$1m | US$493k | US$43m |
| Sep 30 2024 | n/a | n/a | US$38m |
| Jun 30 2024 | n/a | n/a | US$44m |
| Mar 31 2024 | n/a | n/a | US$47m |
| Dec 31 2023 | US$949k | US$436k | US$62m |
| Sep 30 2023 | n/a | n/a | US$78m |
| Jun 30 2023 | n/a | n/a | US$81m |
| Mar 31 2023 | n/a | n/a | US$83m |
| Dec 31 2022 | US$936k | US$414k | US$82m |
| Sep 30 2022 | n/a | n/a | US$79m |
| Jun 30 2022 | n/a | n/a | US$78m |
| Mar 31 2022 | n/a | n/a | US$92m |
| Dec 31 2021 | US$826k | US$397k | US$98m |
| Sep 30 2021 | n/a | n/a | US$103m |
| Jun 30 2021 | n/a | n/a | US$99m |
| Mar 31 2021 | n/a | n/a | US$60m |
| Dec 31 2020 | US$728k | US$385k | US$47m |
| Sep 30 2020 | n/a | n/a | US$40m |
| Jun 30 2020 | n/a | n/a | US$41m |
| Mar 31 2020 | n/a | n/a | US$63m |
| Dec 31 2019 | US$745k | US$371k | US$68m |
Compensation vs Market: Bryan's total compensation ($USD1.35M) is below average for companies of similar size in the US market ($USD3.69M).
Compensation vs Earnings: Bryan's compensation has increased by more than 20% in the past year.
CEO
Bryan McDonald (54 yo)
Mr. Bryan D. McDonald is Chief Executive Officer and President at Heritage Financial Corporation from May 6, 2025 and its Director since June 2024. He is Chief Executive Officer of Heritage Bank from July...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Chairman | 24.2yrs | US$172.52k | 0.31% $ 3.7m | |
| CEO, President & Director | 1.1yrs | US$1.35m | 0.085% $ 1.0m | |
| Executive VP & CFO | 18.8yrs | US$922.33k | 0.11% $ 1.3m | |
| Advisory to the CEO | 1.1yrs | US$1.01m | 0.18% $ 2.1m | |
| Executive VP & Chief Credit Officer | 5.9yrs | US$796.41k | 0.054% $ 643.8k | |
| Executive Vice President | 1.7yrs | US$616.20k | 0.0092% $ 109.5k | |
| Senior VP | 17.8yrs | no data | no data |
Experienced Management: HFWA's management team is seasoned and experienced (5.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Chairman | 24.2yrs | US$172.52k | 0.31% $ 3.7m | |
| CEO, President & Director | 2yrs | US$1.35m | 0.085% $ 1.0m | |
| Lead Independent Director | 26.4yrs | US$135.02k | 0.14% $ 1.7m | |
| Independent Director | 25.4yrs | US$110.02k | 0.12% $ 1.5m | |
| Independent Director | 20.4yrs | US$104.18k | 0.085% $ 1.0m | |
| Independent Director | 13.7yrs | US$101.68k | 0.063% $ 750.2k | |
| Independent Director | 4.4yrs | US$100.02k | 0.024% $ 286.5k | |
| Independent Director | 5.5yrs | US$105.85k | 0.017% $ 206.5k | |
| Independent Director | 4.4yrs | US$100.02k | 0.024% $ 286.5k | |
| Independent Director | 1.4yrs | US$100.02k | 0.0054% $ 63.7k | |
| Director | less than a year | no data | no data |
Experienced Board: HFWA's board of directors are considered experienced (5.5 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/11 05:12 |
| End of Day Share Price | 2026/06/11 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
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Analyst Sources
Heritage Financial Corporation is covered by 8 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Jeffrey Rulis | D.A. Davidson & Co. |
| null null | D.A. Davidson & Co. |
| Christopher McGratty | Keefe, Bruyette, & Woods |