HTBK - Heritage Commerce Stock Undervalued And Driven By Acquisitions-Related Earnings Power
Heritage Commerce Closed its Fourth Acquisition
Heritage Commerce Corp. (HTBK), the bank holding company for San Francisco business bank Heritage Commerce Bank, closed the stock acquisition of Presidio Bank (PDOB), formerly a public company on Oct. 11, 2019. I estimate HTBK stock is cheap on a synergy adjusted and run-rate based analysis. At 11-12x earnings, with a 4.2% dividend yield and 1.7x adjusted tangible book value, HTBK stock is worth 32% more, at $15.17 per share. Subscribers to my new Total Yield Value Guide have access to my spreadsheet model on