BidaskClub upgraded shares of Heritage Commerce (NASDAQ:HTBK) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
A number of other equities research analysts also recently commented on HTBK. Raymond James initiated coverage on Heritage Commerce in a research report on Wednesday, July 18th. They issued an outperform rating and a $19.00 target price on the stock. Zacks Investment Research downgraded Heritage Commerce from a hold rating to a sell rating in a research report on Friday, July 20th. ValuEngine upgraded Heritage Commerce from a hold rating to a buy rating in a research report on Tuesday, July 24th. Finally, Brean Capital restated a buy rating and issued a $18.50 target price on shares of Heritage Commerce in a research report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $18.88.
NASDAQ:HTBK traded down $0.41 on Friday, reaching $14.63. The company’s stock had a trading volume of 255,205 shares, compared to its average volume of 181,623. Heritage Commerce has a 12-month low of $14.25 and a 12-month high of $18.10. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $644.88 million, a P/E ratio of 18.29, a P/E/G ratio of 1.55 and a beta of 0.46.
Heritage Commerce (NASDAQ:HTBK) last posted its earnings results on Thursday, July 26th. The financial services provider reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.24). Heritage Commerce had a net margin of 15.63% and a return on equity of 11.98%. The business had revenue of $32.94 million during the quarter, compared to analysts’ expectations of $32.60 million. Sell-side analysts anticipate that Heritage Commerce will post 0.96 earnings per share for the current fiscal year.
In other news, Director Jason Philip Dinapoli acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The shares were purchased at an average price of $14.82 per share, for a total transaction of $74,100.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $296,400. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.40% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP raised its holdings in shares of Heritage Commerce by 30.7% in the 2nd quarter. First Trust Advisors LP now owns 103,996 shares of the financial services provider’s stock valued at $1,767,000 after buying an additional 24,413 shares during the period. Swiss National Bank raised its holdings in shares of Heritage Commerce by 5.3% in the 1st quarter. Swiss National Bank now owns 63,200 shares of the financial services provider’s stock valued at $1,042,000 after buying an additional 3,200 shares during the period. Prudential Financial Inc. raised its holdings in shares of Heritage Commerce by 39.5% in the 1st quarter. Prudential Financial Inc. now owns 51,178 shares of the financial services provider’s stock valued at $843,000 after buying an additional 14,500 shares during the period. Martingale Asset Management L P raised its holdings in shares of Heritage Commerce by 15.4% in the 2nd quarter. Martingale Asset Management L P now owns 114,714 shares of the financial services provider’s stock valued at $1,949,000 after buying an additional 15,302 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of Heritage Commerce by 10.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 194,303 shares of the financial services provider’s stock valued at $3,302,000 after buying an additional 17,853 shares during the period. Hedge funds and other institutional investors own 72.75% of the company’s stock.
About Heritage Commerce
Heritage Commerce Corp operates as the bank holding company for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.
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