Last $15.00 USD
Change Today -0.65 / -4.15%
Volume 380.0
HBKS On Other Exchanges
Symbol
Exchange
OTC US
As of 9:30 AM 01/27/15 All times are local (Market data is delayed by at least 15 minutes).

heritage bankshares inc (HBKS) Snapshot

Open
$16.00
Previous Close
$15.65
Day High
$16.00
Day Low
$15.00
52 Week High
08/19/14 - $16.50
52 Week Low
01/27/14 - $13.01
Market Cap
34.1M
Average Volume 10 Days
386.2
EPS TTM
$1.24
Shares Outstanding
2.3M
EX-Date
10/30/14
P/E TM
12.1x
Dividend
$0.48
Dividend Yield
3.00%
Current Stock Chart for HERITAGE BANKSHARES INC (HBKS)

Related News

No related news articles were found.

heritage bankshares inc (HBKS) Related Businessweek News

No Related Businessweek News Found

heritage bankshares inc (HBKS) Details

Heritage Bankshares, Inc. operates as the bank holding company for Heritage Bank that provides commercial and retail banking products and services to individuals and businesses. It generates deposit products, including checking accounts, savings accounts, and certificates of deposit; and offers business loans, such as owner-occupied real estate, small business, commercial, real estate, and construction loans. The company also provides refinancing of owner-occupied facilities; and financing for equipment, such as vehicles, trucks, forklifts, and other heavy equipment for business. In addition, it offers online banking services consisting of account access and review, bill pay, transaction management, transfer, transaction history, stop payment, electronic document delivery, check and deposit images, and wire transfer services, as well as offers VISA check cards/ATM cards. As of April 25, 2014, it had two full-service branches in the city of Norfolk, two full-service branches in the city of Virginia Beach, and one full-service branch in the city of Chesapeake, Virginia. Heritage Bankshares, Inc. is headquartered in Norfolk, Virginia.

heritage bankshares inc (HBKS) Top Compensated Officers

No compensation data is available at this time for the top officers at this company.

Executives, Board Directors

heritage bankshares inc (HBKS) Key Developments

Heritage Bankshares, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Heritage Bankshares Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net interest income of $2,395,000 against $2,262,000 a year ago. Income before provision for income taxes was $1,589,000 against $991,000 a year ago. Net income available to common stockholders was $1,299,000 or $0.55 per diluted share against $704,000 or $0.30 per diluted share a year ago. Annualized return on average assets was 1.54% against 0.90% a year ago. Annualized return on average common equity was 16.42% against 9.54% a year ago. Book value per share as at September 30, 2014 was $14.26. For the nine months, the company reported net interest income of $6,885,000 against $7,023,000 a year ago. Income before provision for income taxes was $2,913,000 against $2,553,000 a year ago. Net income available to common stockholders was $2,221,000 or $0.95 per diluted share against $1,759,000 or $0.75 per diluted share a year ago. Annualized return on average assets was 0.92% against 0.76% a year ago. Annualized return on average common equity was 9.66% against 8.32% a year ago.

Heritage Bankshares, Inc. Declares Regular Quarterly Dividend on Common Stock, Payable on November 14, 2014 and Preferred Stock, Payable on January 2, 2015

On October 22, 2014, board of directors of Heritage Bankshares Inc. declared regular quarterly dividend of $0.12 per share dividend on common stock. The dividend will be paid on November 14, 2014 to common shareholders of record on November 3, 2014. The company will pay dividends of $19,500 on the preferred stock issued in connection with its participation in the SBLF program. This dividend shall be payable and paid on January 2, 2015 to the holders of the SBLF preferred stock of record on December 19, 2014. Currently the sole shareholder of record of the SBLF preferred stock is the Secretary of the Treasury.

Heritage Bankshares Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Heritage Bankshares Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total interest income of $2,508,000, net interest income of $2,285,000, income before provision for income taxes of $755,000, and net income available to common stockholders of $524,000 or $0.22 per basic and diluted share compared to total interest income of $2,583,000, net interest income of $2,373,000, income before provision for income taxes of $934,000, and net income available to common stockholders of $641,000 or $0.27 per diluted share for the same period a year ago. Annualized return on average assets was 0.65% compared to 0.82% for the same period last year. Annualized return on average common equity was 6.92% compared to 8.95% for the same period last year. This decrease in net income is mainly attributable to approximately $100,000 after-tax loan prepayment fees in the second quarter of 2013 that did not recur in the second quarter of 2014. An $88,000 decrease in net interest income after provision for loan losses was mostly offset by a $67,000 decrease in noninterest expense, while a $158,000 decrease in noninterest revenue, mostly attributable to $150,000 of nonrecurring loan prepayment fees in the second quarter of 2013, represents the bulk of the decrease in pretax income. For the six months, the company reported total interest income of $4,931,000, net interest income of $4,489,000, income before provision for income taxes of $1,323,000, and net income available to common stockholders of $922,000 or $0.39 per diluted share compared to total interest income of $5,201,000, net interest income of $4,761,000, income before provision for income taxes of $1,561,000, net income available to common stockholders of $1,054,000 or $0.45 per diluted share for the same period a year ago. Annualized return on average assets was 0.59% compared to 0.70% for the same period last year. Annualized return on average common equity was 6.17% compared to 7.69% for the same period last year. Book value per share was $13.88 compared to $13.07 a year ago. During the first six months of 2014, net income was negatively affected by several factors. First, several large loans, purchased from other banks in 2010, were repaid during the second half of the year 2013 through the first month of 2014. In addition, interest rate modifications during 2013 applied downward pressure on the yield of loan portfolio in the first half of 2014. Loan production at the end of the first quarter of 2014 offset a portion of these impacts, but the net effect on net interest income was a $272,000 decrease during the first half of 2014 compared to the first half of 2013. Conversely, this decrease in net interest income was largely offset by a $252,000 decrease in noninterest expense during the first six months of 2014 compared to the first six months of 2013.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
HBKS:US $15.00 USD -0.65

HBKS Competitors

Market data is delayed at least 15 minutes.

Company Last Change
No competitor information is available for HBKS.
View Industry Companies
 

Industry Analysis

HBKS

Industry Average

Valuation HBKS Industry Range
Price/Earnings 12.7x
Price/Sales 3.5x
Price/Book 1.1x
Price/Cash Flow 12.1x
TEV/Sales NM Not Meaningful
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact HERITAGE BANKSHARES INC, please visit www.heritagebankva.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.