Last $8.18 USD
Change Today -0.07 / -0.85%
Volume 17.5K
HTBK On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 04/23/14 All times are local (Market data is delayed by at least 15 minutes).

heritage commerce corp (HTBK) Snapshot

Open
$8.27
Previous Close
$8.25
Day High
$8.27
Day Low
$8.14
52 Week High
01/3/14 - $8.50
52 Week Low
04/29/13 - $6.46
Market Cap
215.7M
Average Volume 10 Days
24.2K
EPS TTM
$0.36
Shares Outstanding
26.4M
EX-Date
02/3/14
P/E TM
22.7x
Dividend
$0.08
Dividend Yield
0.98%
Current Stock Chart for HERITAGE COMMERCE CORP (HTBK)

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heritage commerce corp (HTBK) Details

Heritage Commerce Corp operates as a bank holding company for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. It offers a range of deposit products for retail and business banking markets, including checking accounts, interest-bearing transaction accounts, savings accounts, time deposits, and retirement accounts. The company also provides various loan products comprising commercial loans, such as operating secured and unsecured loans advanced for working capital, equipment purchases, and other business purposes; small business administration loans; commercial real estate loans; commercial construction loans for rental properties, commercial buildings, and homes; home equity line loans; and consumer loans consisting of loans for financing automobiles, various consumer goods, and other personal purposes. In addition, it offers other banking services, including cashier's checks, bank-by-mail, ATM, night depositories, safe deposit boxes, direct deposit, automated payroll, electronic funds transfer, online banking, online bill pay, remote deposit capture, automated clearing house origination, electronic data interchange, and check imaging services. The company provides its banking products and services through operating 10 full service branch offices in the southern and eastern regions of the general San Francisco Bay Area of California in the counties of Santa Clara, Alameda, and Contra Costa. Heritage Commerce Corp was founded in 1993 and is based in San Jose, California.

193 Employees
Last Reported Date: 03/7/14
Founded in 1993

heritage commerce corp (HTBK) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $360.4K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $251.7K
Chief Credit Officer, Executive Vice Presiden...
Total Annual Compensation: $253.8K
Chief Administrative Officer and Executive Vi...
Total Annual Compensation: $252.8K
Executive Vice President of Banking Division
Total Annual Compensation: $235.8K
Compensation as of Fiscal Year 2013.

heritage commerce corp (HTBK) Key Developments

Keith Wilton Joins Heritage Commerce Corp. and Heritage Bank of Commerce as Executive Vice President and Chief Operating Officer

Heritage Commerce Corp. announced that Keith Wilton has joined the company and its operating bank Heritage Bank of Commerce as Executive Vice President and Chief Operating Officer. Wilton comes to Heritage Bank of Commerce from $6 billion Santa Barbara Bank & Trust, now owned by UnionBanCal Corporation, where he served as Executive Vice President. He was also Corporate Executive Vice President and President of the Specialty Finance Group of Greater Bay Bancorp, prior to its acquisition by Wells Fargo in 2007. As President of the Specialty Finance Group, he had responsibility for healthcare practice financing, equipment leasing, asset based lending/factoring, residential mortgage lending, international trade finance, and SBA lending.

Heritage Commerce Corp. Presents at FIG Partners 5th Annual West Coast CEO Forum, Feb-06-2014 01:55 PM

Heritage Commerce Corp. Presents at FIG Partners 5th Annual West Coast CEO Forum, Feb-06-2014 01:55 PM. Venue: Palace Hotel, San Francisco, California, United States. Speakers: Walter T. Kaczmarek, Chief Executive Officer, President, Director, Member of Finance & Investment Committee, Member of Strategic Issues Committee, Chief Executive Officer for Heritage Bank of Commerce, President for Heritage Bank of Commerce and Director for Heritage Bank of Commerce.

Heritage Commerce Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013, Announces Net Charge-Offs for the Fourth Quarter of 2013

Heritage Commerce Corp. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company’s interest income was $13.6 million compared with $12.96 million a year ago. Net interest income before provision for loan losses was $13.0 million compared with $12.2 million a year ago. Net interest income after provision for loan losses was $13.1 million compared with $11.5 million a year ago. Income before income taxes was $4.8 million compared with $3.8 million a year ago. Net income was $3.4 million compared with $2.7 million a year ago. Net income available to common shareholders was $3.4 million or $0.10 per basic and diluted share compared with $2.7 million or $0.08 per basic and diluted share a year ago. As on December 31, 2013, the company's book value per share was $5.84 and tangible book value per share was $5.78. Annualized return on average equity was 7.74% compared with 6.25% a year ago. Annualized return on average tangible equity was 7.81% compared with 6.32% a year ago. Annualized return on average assets was 0.89% compared with 0.75% a year ago. Annualized return on average tangible assets was 0.89% compared with 0.75% a year ago. For the year, the company’s interest income was $52.8 million compared with $52.6 million a year ago. Net interest income before provision for loan losses was $50.2 million compared with $48.4 million a year ago. Net interest income after provision for loan losses was $51.0 million compared with $45.6 million a year ago. The increase in net interest income was driven primarily by higher average loan balances and a lower cost of funds. Income before income taxes was $16.5 million compared with $14.2 million a year ago. Net income was $11.5 million compared with $9.9 million a year ago. Net income available to common shareholders was $11.5 million or $0.36 per basic and diluted share compared with $8.7 million or $0.27 per basic and diluted share a year ago. Annualized return on average equity was 6.77% compared with 5.75% a year ago. Annualized return on average tangible equity was 6.84% compared with 5.83% a year ago. Annualized return on average assets was 0.81% compared with 0.73% a year ago. Annualized return on average tangible assets was 0.81% compared with 0.73% a year ago. The company announced net charge-offs of $166,000 for the fourth quarter of 2013, compared to net charge-offs of $766,000 for the fourth quarter of 2012.

 

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Industry Analysis

HTBK

Industry Average

Valuation HTBK Industry Range
Price/Earnings 22.9x
Price/Sales 4.8x
Price/Book 1.4x
Price/Cash Flow 18.9x
TEV/Sales 1.6x
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