Last $14.65 USD
Change Today 0.00 / 0.00%
Volume 0.0
HBKS On Other Exchanges
Symbol
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OTC US
As of 8:10 PM 04/14/14 All times are local (Market data is delayed by at least 15 minutes).

heritage bankshares inc (HBKS) Snapshot

Open
$14.65
Previous Close
$14.65
Day High
$14.65
Day Low
$14.65
52 Week High
04/8/14 - $15.20
52 Week Low
10/14/13 - $12.30
Market Cap
33.4M
Average Volume 10 Days
1.3K
EPS TTM
$1.05
Shares Outstanding
2.3M
EX-Date
02/12/14
P/E TM
14.0x
Dividend
$0.48
Dividend Yield
0.82%
Current Stock Chart for HERITAGE BANKSHARES INC (HBKS)

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heritage bankshares inc (HBKS) Details

Heritage Bankshares, Inc. operates as a bank holding company for Heritage Bank that provides commercial and retail banking products and services to individuals and small to medium sized businesses. The company’s deposit products include noninterest-bearing checking accounts, interest-bearing checking and savings accounts, money market accounts, and certificates of deposit. Its loan products comprise commercial business loans; commercial real estate loans; construction loans; land acquisition and development loans; and home equity, consumer, and residential mortgage loans. In addition, the company provides insurance and investment services. As of April 18, 2013, it operated 4 full-service branches in the city of Norfolk, 2 full-service branches in the city of Virginia Beach, and 1 full service branch in the city of Chesapeake, Virginia. Heritage Bankshares, Inc. is headquartered in Norfolk, Virginia.

heritage bankshares inc (HBKS) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $616.9K
Chief Lending Officer, Executive Vice Preside...
Total Annual Compensation: $165.0K
Chief Banking Officer, Executive Vice Preside...
Total Annual Compensation: $88.3K
Compensation as of Fiscal Year 2012.

heritage bankshares inc (HBKS) Key Developments

Heritage Bankshares Inc. Reports Un-Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Announces Regular Quarterly Dividend, Payable on February 28, 2014 and Provides Preferred Stock Dividend Guidance, Payable on April 1, 2014; Announces Net Charge-Offs for the Fourth Quarter of 2013

Heritage Bankshares Inc. reported un-audited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net income available to common shareholders of $658,000, an increase of $246,000 from net income available to common shareholders of $412,000 for the fourth quarter of 2012. Earnings per diluted common share increased $0.10 to $0.28 for the fourth quarter of 2013 compared to $0.18 for the fourth quarter of 2012. The company reported total interest income of $2.5 million compared to $2.7 million, net interest income of $2.3 million compared to $2.4 million, income before provision for income taxes of $0.9 million compared to $0.6 million, annualized return on average assets of 0.85% compared to 0.55% and annualized return on average common equity of 8.71% compared to 6.24% for the last year. For the year, the company reported net income available to common shareholders was $2,416,000, an increase of $225,000 from net income available to common shareholders of $2,191,000 for the full year of 2012. For the full year of 2013, the company's earnings per diluted common share were $1.04 compared to $0.94 for the full year of 2012, an increase of $0.10 per share. The company's pretax income was $3,491,000 compared to pretax income of $3,249,000 for the full year of 2012, an increase of $242,000. The company reported total interest income of $10.2 million compared to $11.2 million, net interest income of $9.3 million compared to $10.2 million, annualized return on average assets of 0.78% compared to 0.74% and annualized return on average common equity of 8.42% compared to 7.96% for the last year. Book value per share as on December 31, 2013 was $13.67 compared to $12.69 per share as on December 31, 2012. On January 31, 2014, Board of Directors doubled the company's regular quarterly dividend by declaring a $0.12 per share dividend on common stock. The dividend will be paid on February 28, 2014 to common shareholders of record on February 14, 2014. The company expects to pay dividends of $19,500 on the preferred stock issued in connection with participation in the SBLF program. This dividend shall be payable and paid on April 1, 2014 to the holders of the SBLF preferred stock of record on March 20, 2013 (currently the sole shareholder of record of the SBLF preferred stock is the Secretary of the Treasury). The company announced net charge-offs of $145,000 in the fourth quarter of 2013.

Heritage Bankshares, Inc. Announces Unaudited Financial Results for the Third Quarter and First Nine Months Ended September 30, 2013

Heritage Bankshares Inc. announced unaudited financial results for the third quarter and first nine months ended September 30, 2013. The Company's net income for the third quarter of 2013 was $724,000 compared to net income of $693,000 for the third quarter of 2012, an increase of $31,000. Net income available to common shareholders was $704,000 for the third quarter of 2013, an increase of $31,000 from net income available to common shareholders of $673,000 for the third quarter of 2012. Earnings per diluted common share increased $0.01 to $0.30 for the third quarter of 2013 compared to $0.29 for the third quarter of 2012. Total interest income was $2,480,000 compared to $2,720,000 for the same period last year. Net interest income was $2,262,000 compared to $2,486,000 for the same period last year. Net interest income after provision for loan losses was $2,262,000 compared to $2,486,000 for the same period last year. Income before provision for income taxes was $991,000 compared to $981,000 for the same period last year. Annualized return on average common equity was 9.54% compared to 9.38% for the same period last year. Annualized return on average equity to average assets was 11.88% compared to 11.66% for the same period last year. Annualized return on average assets was 0.90% compared to 0.86% reported a year ago. The Company's net income for the first nine months of 2013 was $1,844,000, a decrease of $21,000 over net income of $1,865,000 for the first nine months of 2012. For the first nine months of 2013, the Company's earnings per diluted common share were $0.75 compared to $0.76 for the first nine months of 2012, a decrease of $0.01 per share. For the first nine months of 2013, net income available to common shareholders was $1,759,000 compared to $1,779,000 for the nine months of 2012. Total interest income was $7,682,000 compared to $8,562,000 for the same period last year. Net interest income was $7,023,000 compared to $7,837,000 for the same period last year. Net interest income after provision for loan losses was $7,023,000 compared to $7,802,000 for the same period last year. Income before provision for income taxes was $2,553,000 compared to $2,614,000 for the same period last year. Annualized return on average common equity was 8.32% compared to 8.51% for the same period last year. Annualized return on average equity to average assets was 11.60% compared to 11.99% for the same period last year. Book value per share was $13.39 as on September 30, 2013 compared to $12.92 as on September 30, 2012. Annualized return on average assets was 0.76% compared to 0.81% reported a year ago.

Heritage Bankshares Inc. Expects to Pay Dividends on Preferred Stock

Heritage Bankshares Inc. announced that the company expects to pay dividends of $19,500 on the preferred stock issued in connection with participation in the SBLF program. This dividend shall be payable and paid on January 2, 2014 to the holders of the SBLF preferred stock of record on December 19, 2013.

 

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Valuation HBKS Industry Range
Price/Earnings 14.1x
Price/Sales 3.1x
Price/Book 1.1x
Price/Cash Flow 13.2x
TEV/Sales NM Not Meaningful
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