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Last $8.03 USD
Change Today +0.07 / 0.88%
Volume 19.5K
HEOP On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).

heritage oaks bancorp (HEOP) Snapshot

Open
$7.93
Previous Close
$7.96
Day High
$8.05
Day Low
$7.93
52 Week High
01/20/15 - $8.92
52 Week Low
09/4/14 - $6.70
Market Cap
275.5M
Average Volume 10 Days
17.7K
EPS TTM
$0.48
Shares Outstanding
34.3M
EX-Date
08/13/15
P/E TM
16.6x
Dividend
$0.24
Dividend Yield
2.37%
Current Stock Chart for HERITAGE OAKS BANCORP (HEOP)

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heritage oaks bancorp (HEOP) Details

Heritage Oaks Bancorp operates as the bank holding company for Heritage Oaks Bank that provides banking products and services to small and medium sized businesses, and consumers in California. The company accepts various deposit products, including personal and business checking and savings accounts, time deposit accounts, individual retirement accounts, and money market accounts, as well as certificates of deposit. It also offers real estate secured loans comprising loans that are secured by commercial real estate, multi-family, farmland, and 1 to 4 family residential properties, as well as equity lines of credit secured by real estate; commercial and industrial, agriculture, and other commercial purpose loans; construction and land loans; and installment loans, as well as residential mortgages and other consumer loans. In addition, the company provides online banking, mobile banking, wire transfers, safe deposit boxes, bank-by-mail, remote deposit capture, night depository, and other customary banking services, as well as cashier’s and travelers checks. As of June 4, 2015, it operated two branch offices each in Paso Robles and San Luis Obispo; and single branch offices in Atascadero, Templeton, Cambria, Morro Bay, Arroyo Grande, Santa Maria, Goleta, and Santa Barbara, as well as a single loan production office in Ventura/Oxnard. The company was founded in 1983 and is headquartered in Paso Robles, California.

272 Employees
Last Reported Date: 07/30/15
Founded in 1983

heritage oaks bancorp (HEOP) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $425.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $191.3K
Chief Lending Officer, Executive Vice Preside...
Total Annual Compensation: $228.8K
Chief Credit Officer, Executive Vice Presiden...
Total Annual Compensation: $251.7K
Chief Accounting Officer and Senior Vice Pres...
Total Annual Compensation: $169.9K
Compensation as of Fiscal Year 2014.

heritage oaks bancorp (HEOP) Key Developments

Heritage Oaks Bancorp Announces Dividend, Payable on August 31, 2015

Heritage Oaks Bancorp announced a $0.06 per share dividend, which represents a 3% annualized yield based on closing market price as of July 23, 2015, and a 54% payout ratio based on second quarter earnings. The dividend will be paid on August 31, 2015 to common shareholders of record as of August 17, 2015.

Heritage Oaks Bancorp Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Heritage Oaks Bancorp announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total interest income of $16.741 million against $16.541 million a year ago. Net interest income before provision for loan and lease losses was $15.242 million against $15.197 million a year ago. Net interest income after provision for loan and lease losses was $15.242 million against $15.197 million a year ago. Income before income taxes was $6.084 million against $4.687 million a year ago. Net income available to common shareholders was $3.730 million against $2.949 million a year ago. Basic and diluted earnings per common share were $0.11 against $0.12 a year ago. Return on average equity was 7.53% against 6.23% a year ago. Return on average common equity was 7.42% against 6.35% a year ago. Return on average tangible common equity was 8.71% against 7.61% a year ago. Return on average assets was 0.85% against 0.71% a year ago. Non-GAAP earnings before income taxes, gains on investments, and merger, restructure and integration costs were $6.082 million against $5.508 million a year ago. Earnings before income taxes, provision for loan and lease losses, gain on sale of securities, and merger, restructure and integration costs for the current quarter decreased by $0.1 million, as compared to the linked quarter, and increased by $0.6 million as compared to the second quarter of 2014, primarily due to decreases in non-interest expense. On a year over year basis, net interest income was relatively flat due primarily to offsetting factors including: an increase in interest income from other investments attributable to a special dividend paid by the Federal Home Loan Bank ("FHLB") on June 23, 2015 of $0.3 million, a $0.2 million decrease in interest income from investment securities, and a $0.2 million increase in interest expense on other borrowings. For the six months, the company reported total interest income of $33.669 million against $30.143 million a year ago. Net interest income before provision for loan and lease losses was $30.740 million against $27.648 million a year ago. Net interest income after provision for loan and lease losses was $30.740 million against $27.648 million a year ago. Income before income taxes was $12.770 million against $1.850 million a year ago. Net income available to common shareholders was $7.799 million against $1.186 million a year ago. Basic and diluted earnings per common share were $0.23 against $0.04 a year ago. Book value per common share was $5.89 as on June 30, 2015 against $5.68 as on June 30, 2014. Tangible book value per common share was $5.02 as on June 30, 2015 against $4.76 as on June 30, 2014. Return on average equity was 7.89% against 1.41% a year ago. Return on average common equity was 7.85% against 1.44% a year ago. Return on average tangible common equity was 9.24% against 1.71% a year ago. Return on average assets was 0.90% against 0.16% a year ago. Non-GAAP earnings before income taxes, gains on investments, and merger, restructure and integration costs were $12.295 million against $9.788 million a year ago. The $6.6 million increase in net income available to common shareholders for the first six months of 2015 as compared to the same period a year earlier was primarily due to $8.0 million of merger, restructure and integration costs related to the February 28, 2014 acquisition of Mission Community Bancorp incurred during the first six months of 2014. Earnings before income taxes, provision for loan and lease losses, gain on sale of securities, and merger, restructure and integration costs increased by $2.5 million for the six months ended June 30, 2015, as compared to the same prior year period, primarily as a result of the inclusion of MISN earnings in the company's earnings for a full six months in 2015.

Heritage Oaks Bancorp to Report Q2, 2015 Results on Jul 23, 2015

Heritage Oaks Bancorp announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Jul 23, 2015

 

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Industry Analysis

HEOP

Industry Average

Valuation HEOP Industry Range
Price/Earnings 17.6x
Price/Sales 3.7x
Price/Book 1.3x
Price/Cash Flow 17.5x
TEV/Sales 0.5x
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