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Jeffrey J. Deuel, CEO of Heritage Financial Corp (NASDAQ:HFWA), recently sold a portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Deuel sold 7,033 shares of common stock on March 17, 2025, at an average price of $23.658 per share, totaling $166,386. The transaction comes as Heritage’s stock has shown strong performance, with a 39% return over the past year.
In addition to the sale, Deuel exercised options to acquire 12,098 shares of common stock at a price of $23.77 per share, amounting to $287,569. Following these transactions, Deuel now directly owns 70,906 shares of Heritage Financial.
These moves come as part of routine financial management by Deuel, who also serves as a director and officer of the company. Heritage Financial Corp, headquartered in Olympia, Washington, operates as a savings institution focused on providing a range of financial services.
In other recent news, Heritage Financial Corporation announced its fourth-quarter 2024 earnings, which fell short of analysts’ expectations. The company reported an earnings per share (EPS) of $0.34, missing the forecasted $0.45, and revenue of $57.05 million, which was below the expected $59.34 million. Despite these misses, Heritage Financial continues to expand its commercial lending teams and maintains a strong capital position with a tangible common equity (TCE) ratio of 9.0%. The company experienced a notable increase in net interest income and an expansion in its net interest margin, reflecting effective financial management. Heritage Financial’s loan balances showed significant growth, marking a 10% annualized increase. The company also executed strategic moves, such as the partial restructuring of its bank-owned life insurance (BOLI) portfolio, to improve balance sheet yields. Looking ahead, Heritage Financial plans to focus on deposit growth and core profitability, with potential moderate stock buybacks. The company remains optimistic about its future prospects, emphasizing balanced growth between commercial and industrial (C&I) and owner-occupied commercial real estate (CRE) segments.
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