Heritage Commerce Corp (NASDAQ:HTBK) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts have a consensus "Hold" on Heritage Commerce (7 analysts: 5 holds, 2 buys) with an average 12‑month price target of about $13.13.
• The company pays a quarterly dividend of $0.13 (annualized $0.52), implying a yield of 3.9% and a dividend payout ratio of 66.67%.
• Shares trade near $13.45 with a market cap of $828.4M and a P/E of 17.24, and the 12‑month range is $8.73–$13.83, so the stock is trading close to its yearly high.

Shares of Heritage Commerce Corp (NASDAQ:HTBK - Get Free Report) have been given a consensus recommendation of "Hold" by the seven brokerages that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $13.1250.

A number of research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Heritage Commerce from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 9th. Stephens reissued an "equal weight" rating on shares of Heritage Commerce in a research note on Monday, January 5th. DA Davidson restated a "neutral" rating and issued a $14.50 price objective on shares of Heritage Commerce in a report on Wednesday, February 4th. Raymond James Financial cut shares of Heritage Commerce from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 7th. Finally, Zacks Research lowered shares of Heritage Commerce from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 9th.

Heritage Commerce Price Performance

Heritage Commerce stock opened at $13.45 on Friday. The business's 50-day simple moving average is $12.78 and its 200 day simple moving average is $12.12. The stock has a market cap of $828.43 million, a price-to-earnings ratio of 17.24 and a beta of 0.69. Heritage Commerce has a 12-month low of $8.73 and a 12-month high of $13.83. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.06.

Heritage Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Wednesday, March 25th. Heritage Commerce's dividend payout ratio (DPR) is currently 66.67%.

Institutional Investors Weigh In On Heritage Commerce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co boosted its holdings in Heritage Commerce by 8.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 12,181 shares of the financial services provider's stock worth $146,000 after buying an additional 913 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Heritage Commerce by 0.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 218,384 shares of the financial services provider's stock valued at $2,169,000 after acquiring an additional 1,423 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Heritage Commerce by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,402 shares of the financial services provider's stock valued at $337,000 after acquiring an additional 1,482 shares during the last quarter. Diversified Trust Co raised its position in shares of Heritage Commerce by 9.2% in the 3rd quarter. Diversified Trust Co now owns 20,469 shares of the financial services provider's stock valued at $203,000 after acquiring an additional 1,717 shares during the period. Finally, Mariner LLC raised its position in shares of Heritage Commerce by 2.6% in the 3rd quarter. Mariner LLC now owns 68,844 shares of the financial services provider's stock valued at $684,000 after acquiring an additional 1,730 shares during the period. Institutional investors own 75.55% of the company's stock.

About Heritage Commerce

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.

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