Heritage Financial climbs on bullish loan growth outlook

Heritage Financial

21/04/2022 17:53

** Regional lender's shares  HFWA.O  up ~4.35% at $26.38 in
afternoon trade 
    ** HFWA said it is well-positioned to benefit from the
rising rate environment
    ** Banks benefit from rising rates as higher interest rates
boost their profitability
    ** "We are seeing loan growth due to a decline in loan
payoff activity and the strong economic climate in the Pacific
Northwest" - President and CEO Jeffrey Deuel
    ** However, co's Q1 profit fell to $0.56/share from
$0.70/share a year earlier  
    ** Including session gains, shares up ~7.9% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))