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Heritage Financial Corporation Message Board

  • dontbetheball dontbetheball May 6, 1999 10:31 AM Flag

    No Duh

    Thanks for rubbing it in spammer! We know there's
    good banks out there, and we need one to buy HFWA. I'm
    invested in two of the worst performers in the
    sector-Union Planters and HFWA. Please stop me before I invest

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • If they are sitting on $7/share in cash, why not
      just pay out a distribution of $3-4/share. It would
      seem that that would take care of their excess capital
      problem and return the unneeded cash to the share
      holders. Is there any reason they couldn't do something
      like this?

      • 2 Replies to Athens300BC
      • To pay out a significant cash dividend would create an undesirable tax event for most investors.

      • Barron's had a good article on these thrift
        conversion stocks this weekend. The conclusions the writer
        reached were:
        1)The CEO's of these banks are not
        dynamic, and have basically hung around long enough to get
        their jobs. I don't know enough about Don Rhodes to
        agree with regard to this company.

        shares are undervalued by any measure, but the big money
        has left the building. With low market caps, no
        equity research, and entrenched management, don't expect
        a rapid recovery.

        3)One follower of the
        stocks liked them because "they don't have to take much
        business risk. All they have to do is buy back stock."

        It was interesting to learn that we are not alone in
        our suffering, as the article listed many other
        companies trading under book. The market for thrifts in
        general was pegged at 130-140% of book. Unfortunately,
        articles like this will only serve to encourage HFWA to
        sit on its hands and will not pressure the
        (independant!) board to take any action.

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