Equity Analysis /
United States of America

US : Heritage Financial Corporation - HFWA | 4Q20 Follow-Up: Higher NII Outlook Drives Improved PTPPI Forecast; Maintain MP3

    CGS-CIMB
    1 February 2021
    Published byCGS-CIMB

    We maintain ourMarket Performrating on shares of Heritage Financial Corporation following 4Q20 results that were below forecast on a pre-tax, pre-provision (PTPP) basis, though trends were somewhat mixed. Loan growth is likely to remain challenged near-term, given slower production and elevated pay