Hovde Group Initiates Coverage on Heritage Oaks Bancorp to Market Perform

Hovde Group Initiates Coverage on Heritage Oaks Bancorp(NASDAQ:HEOP). The shares have been rated Market Perform. The rating by Hovde Group was issued on Aug 19, 2016.

Heritage Oaks Bancorp (HEOP) shares turned negative on Mondays trading session with the shares closing down -0.02 points or -0.24% at a volume of 11,842. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $8.32. The peak price level was also seen at $8.32 while the days lowest was $8.13. Finally the shares closed at $8.26. The 52-week high of the shares is $9.25 while the 52-week low is $6.95. According to the latest information available, the market cap of the company is $283 M.

Heritage Oaks Bancorp(HEOP) last announced its earnings results on Aug 1, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $18.88M. Analysts had an estimated revenue of $18.62M. Earnings per share were $0.12. Analysts had estimated an EPS of $0.11.

Several Insider Transactions has been reported to the SEC. On Aug 8, 2016, Alexander Simas (director) purchased 6,500 shares at $8.31 per share price.Also, On Jun 20, 2016, Mark C Fugate (director) purchased 1,000 shares at $7.63 per share price.On Dec 18, 2015, Donald H Campbell (director) sold 5,320 shares at $8.03 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Bank offers its products and services through 12 retail branches located on the Central Coast of California in San Luis Obispo and Santa Barbara Counties and through other direct channels. The Bank offers to its commercial clients commercial loans secured by real estate other commercial loans and lines of credit agricultural loans construction financing other real estate loans and small business administration (SBA) loans. For consumers the Bank offers residential mortgages equity lines of credit and other consumer loans.

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