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Heritage Financial Corp. Message Board

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  • dontbetheball dontbetheball May 10, 1999 9:59 AM Flag

    No Duh

    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.

    2)These
    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.

 
HFWA
17.64+0.02(+0.11%)Dec 26 4:00 PMEST

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