Monday, August 29, 2016

Heritage Commerce - Chart of the Day

Heritage Commerce (HTBK) is the Barchart Chart of the Day.  The California commercial bank has a Trend Spotter buy signal, a Weighted Alpha of 16.71%, gained 26.26% in the last 6 months and paid a 3.04% dividend.

The Chart of the Day belongs to Heritage Commerce (HTBK).  I found the California based commercial bank by using Barchart to sort today's New High list first by the most frequent number of new highs in the last month, then again by technical buy signals of 80% or better.  Since the Trend Spotter signaled a buy on 8/5 the stock gained 7.29%.

Heritage Commerce Corp. is the holding company of Heritage Bank of Commerce, Heritage Bank East Bay, Heritage Bank South Valley and Bank of Los Altos. The company offers a range of loans, primarily commercial, including real estate, construction, Small Business Administration), inventory and accounts receivable, and equipment loans. The company also accepts checking, savings, and time deposits; NOW and money market deposit accounts; and provides travelers' checks, safe deposit, and other customary non-deposit banking services.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the web site when you read this report.

Barchart technical indicators:

  • 96% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 20 new highs and up 12.40% in the last month
  • Relative Strength Index 73.83%
  • Technical support level at 11.53
  • Recently traded at 11.78 with a 50 day moving average of 10.82
Fundamental factors:
  • Market Cap $378.96 million
  • P/E 20.77
  • Dividend yield 3.04%
  • Revenue expected to grow 22.60% this year and another 8.50% next year
  • Earnings estimated to increase 54.20% this year, an additional 9.50% next year and continue to compound at an annual rate of 10.00% for the next 5 years
  • Wall Street analysts issued 2 strong buy and 1 hold recommendation on the stock

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