Heritage Financial vs Noah

This page compares Heritage Financial Corp and Noah Holdings Limited, examining business models, financial performance, and market context. It presents neutral, accessible information to help readers understand how the two companies operate and compete within their sectors. Educational content, not financial advice.

This page compares Heritage Financial Corp and Noah Holdings Limited, examining business models, financial performance, and market context. It presents neutral, accessible information to help readers ...

Comparison Snapshot

Key Financial Metrics

HFWA

Metric

NOAH

$843.83M

Market Cap

$752.32M

5.86%

Potential Profit

39.95%

Hold

Analyst Rating

Buy

Investment Analysis

Heritage Financial

HFWA

Pros

Heritage Financial has a diversified loan portfolio including commercial, residential, and consumer loans, supporting stable income streams.
The bank maintains a price-to-book ratio of 0.9x, in line with the sector average, indicating fair valuation relative to assets.
It has an analyst upside potential of around 12.6%, suggesting moderate market confidence in its growth prospects.

Considerations

Heritage Financial’s P/E ratio of 15.3x is higher than the sector average, implying the stock could be relatively expensive compared to peers.
Its price-to-latest sales ratio of 3.6x exceeds the sector average, indicating potentially stretched valuation on sales multiples.
The company’s growth prospects face pressure given the competitive and regulatory environment in U.S. regional banking.

Noah

NOAH

Pros

Noah Holdings serves high-net-worth individuals in China and internationally, tapping into a growing wealth management market.
The company offers a broad suite of wealth and asset management services with a focus on innovative products like private secondary funds.
Noah’s forward price-to-earnings ratio of 7.6x suggests valuation room relative to current earnings, supported by analyst buy ratings.

Considerations

Noah Holdings reported a significant revenue decline of over 21% and a net income drop of nearly 53% in the past year, raising concerns about profitability trends.
The company is heavily exposed to the Mainland China market, rendering it vulnerable to regulatory changes and economic slowdowns there.
Its business segments rely on volatile asset management and wealth sectors, which can be cyclical and susceptible to market fluctuations.

About The Companies

Heritage Financial (HFWA)

Heritage Financial Corporation (HFWA) is a US regional bank holding company with a market capitalisation of about $776.5 million. It operates a community‑bank model, offering deposit accounts, commercial lending (including commercial real estate and small business loans), mortgage services and cash‑management solutions. Investors should note that performance is driven by loan growth, net interest margin, deposit costs and local economic conditions in its primary markets. As a smaller regional bank, HFWA can benefit from close customer relationships and niche lending, but it is also more exposed to concentration risks, interest‑rate swings and regulatory costs than larger national banks. Key metrics to watch include credit quality, loan portfolio mix, deposit stability, capital ratios and efficiency measures. This summary is for general educational purposes only and not personal investment advice; values can fall as well as rise, and you should consider your circumstances or consult a regulated adviser.

Noah (NOAH)

Noah Holdings Limited is an investment holding firm that provides wealth and asset management services, primarily targeting high-net-worth individuals and families in China and overseas. The company operates through three main divisions: Wealth Management, which offers a range of investment products and financial services; Asset Management, which oversees client investments across various asset classes like private equity and real estate; and an 'Other Businesses' segment which includes services like lending. By focusing on a specialised client base and offering a diverse suite of financial products, Noah has established a significant presence in its market. As with any investment, it's important to remember that market conditions are subject to change, the value of investments can go down as well as up, and returns are not guaranteed. Potential investors should consider if this aligns with their own financial goals and risk tolerance.

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HSBC has proposed a multi-billion dollar deal to take Hang Seng Bank private, signaling a major investment in the Hong Kong financial market. This strategic move could trigger a wave of consolidation, creating opportunities among other regional banks and financial institutions poised for growth or acquisition.

Published: October 10, 2025

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Comparison Snapshot