Heritage Oaks Bancorp (NASDAQ:HEOP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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 shares of Heritage Oaks Bancorp in a report on Friday, August 19th. They set a “market perform” rating and a $8.50 target price on the stock.

Heritage Oaks Bancorp (NASDAQ:HEOP) opened at 8.14 on Tuesday. The stock has a 50 day moving average price of $8.14 and a 200-day moving average price of $8.07. Heritage Oaks Bancorp has a 52 week low of $6.95 and a 52 week high of $9.25. The company has a market capitalization of $276.79 million, a PE ratio of 17.70 and a beta of 0.72.

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

In other news, Director Alexander Simas purchased 6,500 shares of Heritage Oaks Bancorp stock in a transaction dated Thursday, August 4th. The stock was purchased at an average cost of $8.29 per share, for a total transaction of $53,885.00. Following the transaction, the director now directly owns 69,685 shares of the company’s stock, valued at $577,688.65. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 31.32% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HEOP. American International Group Inc. raised 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 worth $110,000 after buying an additional 67 shares during the period. California State Teachers Retirement System raised 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 worth $399,000 after buying an additional 587 shares during the period. Nationwide Fund Advisors raised 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 worth $130,000 after buying an additional 1,041 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Heritage Oaks Bancorp by 1.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 187,615 shares of the company’s stock worth $1,490,000 after buying an additional 2,209 shares during the period. Finally, Teachers Advisors Inc. raised 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 worth $285,000 after buying an additional 4,105 shares during the period. Hedge funds and other institutional investors own 62.85% of the company’s stock.

Heritage Oaks Bancorp Company Profile

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.

5 Day Chart for NASDAQ:HEOP

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