Trading Report: The Heritage Oaks Bancorp (HEOP) Raised to “Hold” at Zacks Investment Research

The Heritage Oaks Bancorp (HEOP) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Heritage Oaks Bancorp (NASDAQ:HEOP) from a sell rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “Heritage Oaks Bancorp acts as a bank holding company of Heritage Oaks Bank. Other than holding the shares of the Bank, the Company conducts no significant activities, although it is authorized, with the prior approval of the Board of Governors of the Federal Reserve System, to engage in a variety of activities that are deemed closely related to the business of banking. The Bank offers traditional banking products, such as checking, savings and certificates of deposit, as well as mortgage loans and commercial and consumer loans. “

Separately, Hovde Group initiated coverage on Heritage Oaks Bancorp in a research report on Friday, August 19th. They set a market perform rating and a $8.50 price target on the stock.

Shares of Heritage Oaks Bancorp (NASDAQ:HEOP) opened at 8.06 on Tuesday. The firm has a market capitalization of $274.07 million, a PE ratio of 17.52 and a beta of 0.72. Heritage Oaks Bancorp has a 12-month low of $6.95 and a 12-month high of $9.25. The company’s 50-day moving average price is $8.12 and its 200-day moving average price is $8.07.

Heritage Oaks Bancorp (NASDAQ:HEOP) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Heritage Oaks Bancorp had a return on equity of 7.52% and a net margin of 19.59%. Analysts anticipate that Heritage Oaks Bancorp will post $0.48 EPS for the current year.

In other news, Director Alexander Simas bought 6,500 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were bought at an average price of $8.29 per share, with a total value of $53,885.00. Following the completion of the transaction, the director now owns 69,685 shares of the company’s stock, valued at $577,688.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.32% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of HEOP. American International Group Inc. increased its position in Heritage Oaks Bancorp by 0.5% in the second quarter. American International Group Inc. now owns 13,807 shares of the company’s stock valued at $110,000 after buying an additional 67 shares during the last quarter. Barclays PLC purchased a new position in Heritage Oaks Bancorp during the second quarter valued at approximately $118,000. Nationwide Fund Advisors increased its position in Heritage Oaks Bancorp by 6.8% in the second quarter. Nationwide Fund Advisors now owns 16,415 shares of the company’s stock valued at $130,000 after buying an additional 1,041 shares during the last quarter. Teachers Advisors Inc. increased its position in Heritage Oaks Bancorp by 12.9% in the second quarter. Teachers Advisors Inc. now owns 35,843 shares of the company’s stock valued at $285,000 after buying an additional 4,105 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in Heritage Oaks Bancorp by 1.2% in the second quarter. California State Teachers Retirement System now owns 50,294 shares of the company’s stock valued at $399,000 after buying an additional 587 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

About Heritage Oaks Bancorp

Heritage Oaks Bancorp is the holding company for Heritage Oaks Bank (the Bank). The Bank offers traditional banking products, such as checking, savings, money market account and certificates of deposit, as well as mortgage loans and commercial and consumer loans to customers who are predominately small to medium-sized businesses (SMBs) and individuals.

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