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Last $10.63 USD
Change Today 0.00 / 0.00%
Volume 42.8K
HTBK On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

heritage commerce corp (HTBK) Key Developments

Heritage Commerce Corp Announces Executive Appointments

Heritage Commerce Corp. announced that on August 20, 2015, it completed its previously announced merger of its wholly-owned bank subsidiary Heritage Bank of Commerce with Focus Business Bank. The merger, which was first announced on April 23, 2015, was concluded following receipt of approval from Heritage and Focus Business Bank shareholders and all required regulatory approvals. Two independent members of Focus Bank's board of directors were appointed to the board of directors of Heritage and Heritage Bank of Commerce: J. Philip Di Napoli and Julianne Biagini-Komas. In addition, Robert Gionfriddo and Teresa Powell, Focus Bank Executive Vice Presidents, will join Heritage as Executive Vice Presidents.

Heritage Commerce Corp Declares Quarterly Cash Dividend to Common Stock and Series C Preferred Stock, Payable on August 27, 2015

Heritage Commerce Corp. announced that its Board of Directors declared a quarterly cash dividend of $0.08 per share to holders of common stock and series C preferred stock (on an as converted basis). The dividend will be payable on August 27, 2015, to shareholders of record on August 13, 2015.

Heritage Commerce Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Heritage Commerce Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net interest income before provision for loan losses was $17,642,000 against $13,685,000 a year ago. Net interest income after provision for loan losses was $17,620,000 against $13,883,000 a year ago. Income before income taxes was $7,167,000 against $5,161,000 a year ago. Net income available to common shareholders was $4,029,000 or $0.14 per diluted share against $3,100,000 or $0.10 per diluted share a year ago. Annualized return on average equity was 9.59% against 7.45% a year ago. Annualized return on average tangible equity was 10.49% against 7.51% a year ago. Annualized return on average assets was 1.08% against 0.91% a year ago. Annualized return on average tangible assets was 1.09% against 0.91% a year ago. For the six months, net interest income before provision for loan losses was $34,500,000 against $27,019,000 a year ago. Net interest income after provision for loan losses was $34,538,000 against $27,227,000 a year ago. Income before income taxes was $13,735,000 against $9,976,000 a year ago. Net income available to common shareholders was $7,719,000 or $0.27 per diluted share against $5,952,000 or $0.20 per diluted share a year ago. Annualized return on average equity was 9.32% against 7.28% a year ago. Annualized return on average tangible equity was 10.20% against 7.33% a year ago. Annualized return on average assets was 1.05% against 0.88% a year ago. Annualized return on average tangible assets was 1.06% against 0.88% a year ago. Book value per share as at the end of the period was $6.30 compared to $6.14 a year ago. Tangible book value per share as at the end of the period was $5.70 compared to $6.09 a year ago.

Heritage Commerce Corp., Special/Extraordinary Shareholders Meeting, Aug 11, 2015

Heritage Commerce Corp., Special/Extraordinary Shareholders Meeting, Aug 11, 2015., at 13:00 Pacific Standard Time. Agenda: To consider merger of Heritage Bank of Commerce and Focus Business Bank.

Heritage Commerce Corp. Presents at Keefe Bruyette & Woods Sixteenth Annual Community Bank Investor Conference, Jul-28-2015 08:30 AM

Heritage Commerce Corp. Presents at Keefe Bruyette & Woods Sixteenth Annual Community Bank Investor Conference, Jul-28-2015 08:30 AM. Venue: Grand Central Grand Hyatt, New York, New York, United States. Speakers: Keith A. Wilton, Chief Operating Officer and Executive Vice President, Lawrence D. McGovern, Chief Financial Officer and Executive Vice President, Walter T. Kaczmarek, Chief Executive Officer, President, Director, Member of Finance & Investment Committee, Member of Strategic Issues Committee, Chief Executive Officer of Heritage Bank of Commerce, President of Heritage Bank of Commerce and Director of Heritage Bank of Commerce.

 

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HTBK

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Valuation HTBK Industry Range
Price/Earnings 21.9x
Price/Sales 3.9x
Price/Book 1.7x
Price/Cash Flow 18.1x
TEV/Sales 1.8x
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