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Fly News Breaks for January 12, 2018
HTBK
Jan 12, 2018 | 07:21 EDT
Brean Capital analyst Blair Brantley noted Heritage Commerce announced its second merger in the past three weeks and raised his estimates accordingly. The analyst said the deal with United American Bank is accretive to earnings and believes Heritage deserves a fuller valuation. He said the bank has many of the attributes he likes, including an asset-sensitive balance sheet, excess liquidity, and credit leverage. Brantley reiterated his Buy rating and $17.50 price target on Heritage Commerce shares.
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