Heritage Financial’s Board of Directors Authorizes New Share Repurchase Program
On March 12, Heritage Financial Corporation (HFWA) announced that the company’s Board of Directors authorized a new share repurchase program. This new stock repurchase program follows one authorized in 2014 in which the company repurchased 1,512,600 shares of common stock. The new program allows Heritage Financial to repurchase approximately 1.8 million shares, or up to 5% of the company’s total outstanding common stock.
Sonal detected the event at 5:30 pm. The stock last traded at 4:33 pm for $18.84. The price spiked higher at the regular market open the next morning and continued its gains throughout the day. Heritage Financial closed at $21.54 for an event-day gain of 14.3%.
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