Price Action Report: Can Heritage Oaks Bancorp’s Tomorrow be Different? The Stock Just Broke Its High

Price Action Report: Can Heritage Oaks Bancorp's Tomorrow be Different? The Stock Just Broke Its High

The stock of Heritage Oaks Bancorp (NASDAQ:HEOP) hit a new 52-week high and has $22.94 target or 138.00% above today’s $9.64 share price. The 9 months bullish chart indicates low risk for the $365.64 million company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $22.94 price target is reached, the company will be worth $504.58 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 78,852 shares traded hands or 49.63% up from the average. Heritage Oaks Bancorp (NASDAQ:HEOP) has risen 20.66% since April 19, 2016 and is uptrending. It has outperformed by 16.80% the S&P500.

Heritage Oaks Bancorp (NASDAQ:HEOP) Ratings Coverage

Out of 3 analysts covering Heritage Oaks Bancorp (NASDAQ:HEOP), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. Heritage Oaks Bancorp has been the topic of 3 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was initiated by Hovde Group on Friday, August 19 with “Market Perform”. Raymond James downgraded the shares of HEOP in a report on Monday, November 9 to “Market Perform” rating.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.67 in Q2 2016. Its up 0.48, from 1.19 in 2016Q1. The ratio increased, as 4 funds sold all Heritage Oaks Bancorp shares owned while 17 reduced positions. 5 funds bought stakes while 20 increased positions. They now own 21.47 million shares or 1.54% less from 21.81 million shares in 2016Q1.
Legal General Gp Public accumulated 3,792 shares or 0% of the stock. Northern Tru last reported 240,125 shares in the company. Wells Fargo Company Mn, a California-based fund reported 12,306 shares. California State Teachers Retirement accumulated 0% or 50,294 shares. The New York-based Metropolitan Life Ny has invested 0% in Heritage Oaks Bancorp (NASDAQ:HEOP). Deutsche State Bank Ag owns 8,460 shares or 0% of their US portfolio. Dimensional Fund Limited Partnership last reported 0% of its portfolio in the stock. Price Michael F has 0.84% invested in the company for 800,000 shares. California Employees Retirement Systems holds 98,897 shares or 0% of its portfolio. Panagora Asset Mgmt last reported 17,674 shares in the company. Moreover, Bridgeway Mngmt Incorporated has 0.03% invested in Heritage Oaks Bancorp (NASDAQ:HEOP) for 267,400 shares. Financial Bank Of New York Mellon holds 0% of its portfolio in Heritage Oaks Bancorp (NASDAQ:HEOP) for 97,966 shares. Barclays Public Ltd Com holds 14,807 shares or 0% of its portfolio. Employees Retirement System Of Texas holds 0.02% or 162,000 shares in its portfolio. Mendon Advsr last reported 51,981 shares in the company.

Insider Transactions: Since August 4, 2016, the stock had 1 insider purchase, and 1 insider sale for $29,735 net activity. Osterbauer Robert sold $24,150 worth of Heritage Oaks Bancorp (NASDAQ:HEOP) on Thursday, September 1. Shares for $53,885 were bought by Simas Alexander.

More recent Heritage Oaks Bancorp (NASDAQ:HEOP) news were published by: Globenewswire.com which released: “Heritage Oaks Bancorp Schedules Third Quarter Conference Call” on September 22, 2016. Also Globenewswire.com published the news titled: “Heritage Oaks Bancorp Announces Amendment to Share Repurchase Program” on July 22, 2016. Seekingalpha.com‘s news article titled: “Heritage Oaks Bancorp’s (HEOP) CEO Simone Lagomarsino on Q3 2016 Results …” with publication date: October 28, 2016 was also an interesting one.

HEOP Company Profile

Heritage Oaks Bancorp, incorporated on March 1, 1994, is the holding firm 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 clients who are predominately small to medium-sized businesses (SMBs) and individuals. The Bank offers its services and products through approximately 10 retail branches located on the Central Coast of California, in San Luis Obispo and Santa Barbara Counties and through other direct channels, including a loan production office in Ventura County. 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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