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Donald Hinson, Executive Vice President and Chief Financial Officer of Heritage Financial Corp (NASDAQ:HFWA), recently executed a series of stock transactions, according to a recent SEC filing. On March 17, Hinson sold 3,420 shares of common stock at an average price of $23.591 per share, totaling approximately $80,681. The transaction comes as Heritage Financial, with a market capitalization of approximately $802 million, has seen its stock rise nearly 39% over the past year.
In addition to the stock sale, Hinson acquired shares through the exercise of stock options. He acquired a total of 4,604 shares of common stock at a price of $23.77 per share, amounting to $109,437. These transactions were part of a series of option exercises and subsequent stock sales, reflecting Hinson’s ongoing management of his equity holdings in the company.
Following these transactions, Hinson now holds a total of 42,087 shares directly. Heritage Financial Corp is based in Olympia, Washington, and operates as a savings institution. The company has maintained dividend payments for 15 consecutive years, with a current dividend yield of 4%. According to InvestingPro analysis, which offers comprehensive insights on over 1,400 US stocks, Heritage Financial currently trades near its Fair Value, with 5 analysts recently revising their earnings estimates upward for the upcoming period.
In other recent news, Heritage Financial Corporation reported its fourth-quarter 2024 earnings, which fell short of analysts’ expectations. The company posted an earnings per share (EPS) of $0.34, missing the forecasted $0.45, and reported revenue of $57.05 million, below the expected $59.34 million. Despite these misses, Heritage Financial saw a notable increase in net interest income by $805,000 and a rise in net interest margin from 3.33% to 3.39%. Loan balances also grew significantly, marking a 10% annualized growth for the quarter. Heritage Financial continues to focus on expanding its commercial lending teams and maintaining a strong capital position with a TCE ratio of 9.0%. The company plans to add at least one new team in 2025 and aims to focus on deposit growth and core profitability. Additionally, the company executed strategic balance sheet repositioning, including loss trades on investments and restructuring its BOLI portfolio to improve yield. Heritage Financial remains active in stock buybacks, having repurchased 165,000 shares at a total cost of $4.3 million in the fourth quarter.
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