Heritage Commerce (NASDAQ:HTBK) Downgraded by BidaskClub to Sell

BidaskClub downgraded shares of Heritage Commerce (NASDAQ:HTBK) from a hold rating to a sell rating in a research report sent to investors on Wednesday, December 27th.

Several other equities analysts have also recently commented on HTBK. Brean Capital reaffirmed a buy rating on shares of Heritage Commerce in a research report on Monday, October 30th. Zacks Investment Research raised shares of Heritage Commerce from a hold rating to a buy rating and set a $16.00 price target on the stock in a research report on Wednesday, September 27th. Finally, ValuEngine cut shares of Heritage Commerce from a buy rating to a hold rating in a report on Saturday, December 9th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $16.67.

Shares of Heritage Commerce (HTBK) opened at $16.65 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $620.76, a P/E ratio of 21.62, a P/E/G ratio of 1.59 and a beta of 0.51. Heritage Commerce has a 52 week low of $12.76 and a 52 week high of $16.74.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The company had revenue of $28.78 million during the quarter, compared to the consensus estimate of $28.70 million. Heritage Commerce had a return on equity of 11.15% and a net margin of 26.40%. equities analysts forecast that Heritage Commerce will post 0.82 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of HTBK. Alliancebernstein L.P. boosted its holdings in Heritage Commerce by 79.7% during the second quarter. Alliancebernstein L.P. now owns 24,126 shares of the financial services provider’s stock worth $332,000 after buying an additional 10,700 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Heritage Commerce by 11.2% during the second quarter. Vanguard Group Inc. now owns 1,550,961 shares of the financial services provider’s stock worth $21,373,000 after buying an additional 155,957 shares in the last quarter. State Street Corp boosted its holdings in Heritage Commerce by 36.1% during the second quarter. State Street Corp now owns 558,166 shares of the financial services provider’s stock worth $7,693,000 after buying an additional 148,073 shares in the last quarter. PDT Partners LLC bought a new stake in Heritage Commerce during the second quarter worth approximately $413,000. Finally, Swiss National Bank acquired a new position in Heritage Commerce in the 2nd quarter worth approximately $827,000. Institutional investors and hedge funds own 69.98% of the company’s stock.

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About Heritage Commerce

Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.

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