Heritage Financial Corporation
HFWAFinancial Services · Stock · quarterly payer
Forward Yield
3.55%
Annual Dividend
$1.00
Payout Ratio
46%
5-Yr Growth
3.7%
Ex-Date
Aug 5, 2026
Frequency
Quarterly
Summary
As of September 2026, Heritage Financial Corporation (HFWA) yields 3.55% ($1.00 per share annually), with a blended fair-value estimate of $71.87 — +155% upside, so it screens as undervalued. Dividend safety grade: A (86/100). 14 years of dividend growth.
Is HFWA a good dividend stock?
YesHeritage Financial Corporation (HFWA) pays a quarterly dividend yielding 3.55% ($1.00/yr), with 14 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- 14 consecutive years of dividend growth
- Comfortable payout ratio (46%)
- Top-tier dividend safety score
Risks
- Cut its dividend in 2011
Key Data
- Dividend Yield
- 3.55%
- Payout Ratio
- 46%
- Annual Dividend
- $1.00
- 5-Yr Avg Growth
- 3.7%
- Ex-Dividend Date
- Aug 5, 2026
- Years of Growth
- 14
- Frequency
- quarterly
- Beta
- 0.48
- Market Cap
- $1.2B
- P/E Ratio
- 13.4
- 5-Yr Total Return
- 13%
- 52-Week Range
- $21.32 – $31.25
- Dividend Safety
- A · 86/100
- Ever Cut?
- Yes (2011)
Frequently Asked Questions
HFWA Price — Last 12 Months
Daily close
Price Return
1 Year
+27%
3 Years
+73%
5 Years
+13%
52-Week Range
$21.32 – $31.25
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is HFWA worth?
Undervaluedlow confidenceOur blended fair-value estimate for Heritage Financial Corporation is $71.87 per share, versus a market price of $28.19. That implies 155% of upside — a margin of safety of about 61%.
Fair Value
$71.87
Current Price
$28.19
Upside
+155%
Margin of Safety
61%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model 20.0% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.0% discount rate (CAPM), 20.0% stage-1 growth, 2.5% terminal growth, $2.10 EPS, $1.00 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
HFWA Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Aug 5, 2026 | — | $0.2500 | regular |
| May 6, 2026 | — | $0.2400 | regular |
| Jan 28, 2026 | — | $0.2400 | regular |
| Nov 5, 2025 | — | $0.2400 | regular |
| Aug 6, 2025 | — | $0.2400 | regular |
| May 7, 2025 | — | $0.2400 | regular |
| Feb 6, 2025 | — | $0.2400 | regular |
| Nov 6, 2024 | — | $0.2300 | regular |
| Aug 7, 2024 | — | $0.2300 | regular |
| May 7, 2024 | — | $0.2300 | regular |
| Feb 7, 2024 | — | $0.2300 | regular |
| Oct 31, 2023 | — | $0.2200 | regular |
| Aug 1, 2023 | — | $0.2200 | regular |
| May 3, 2023 | — | $0.2200 | regular |
Income Calculator
At $1.00 / yr per share
