Heritage Commerce Corp. (NASDAQ:HTBK) has been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $10.75.
A number of equities analysts have recently issued reports on the stock. BidaskClub cut shares of Heritage Commerce from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 13th. Zacks Investment Research raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine cut shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Piper Sandler reissued an “overweight” rating and set a $9.00 price objective on shares of Heritage Commerce in a research report on Monday. Finally, Janney Montgomery Scott upped their target price on shares of Heritage Commerce from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th.
In related news, CEO Keith Wilton sold 3,713 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $8.36, for a total value of $31,040.68. Following the sale, the chief executive officer now owns 141,807 shares in the company, valued at approximately $1,185,506.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.30% of the company’s stock.
Large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Heritage Commerce by 88.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,506 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 2,583 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Heritage Commerce during the 1st quarter worth approximately $56,000. Great West Life Assurance Co. Can purchased a new stake in shares of Heritage Commerce during the 4th quarter worth approximately $61,000. Advisor Group Holdings Inc. purchased a new stake in shares of Heritage Commerce during the 1st quarter worth approximately $63,000. Finally, Keebeck Alpha LP purchased a new stake in shares of Heritage Commerce during the 1st quarter worth approximately $81,000. Hedge funds and other institutional investors own 69.71% of the company’s stock.
HTBK traded down $0.01 during trading on Friday, reaching $7.29. 329 shares of the stock traded hands, compared to its average volume of 256,031. The stock has a market capitalization of $402.63 million, a PE ratio of 10.37 and a beta of 1.13. The stock’s 50-day moving average is $7.83 and its 200 day moving average is $9.68. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.07. Heritage Commerce has a 12 month low of $6.04 and a 12 month high of $13.14.
Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.15). The company had revenue of $41.77 million for the quarter, compared to the consensus estimate of $39.72 million. Heritage Commerce had a return on equity of 8.94% and a net margin of 18.73%. As a group, equities research analysts anticipate that Heritage Commerce will post 0.6 EPS for the current year.
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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