Heritage Commerce (NASDAQ:HTBK) Given Overweight Rating at Stephens

Heritage Commerce (NASDAQ:HTBK - Get Free Report)'s stock had its "overweight" rating reiterated by research analysts at Stephens in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $11.00 price objective on the financial services provider's stock. Stephens' price target suggests a potential upside of 18.28% from the stock's current price.

Separately, Keefe, Bruyette & Woods lowered their price target on shares of Heritage Commerce from $11.50 to $11.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th.

Heritage Commerce Stock Performance

NASDAQ HTBK traded up $0.22 on Monday, hitting $9.30. 276,244 shares of the stock traded hands, compared to its average volume of 374,377. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. The business's fifty day moving average is $9.29 and its two-hundred day moving average is $9.75. Heritage Commerce has a 12 month low of $7.74 and a 12 month high of $11.27. The firm has a market capitalization of $572.98 million, a price-to-earnings ratio of 14.09 and a beta of 0.81.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. The company had revenue of $46.06 million during the quarter, compared to the consensus estimate of $45.89 million. As a group, equities analysts anticipate that Heritage Commerce will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling at Heritage Commerce

In other news, Director Jack W. Conner sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $10.52, for a total value of $42,080.00. Following the completion of the transaction, the director now directly owns 108,512 shares in the company, valued at approximately $1,141,546.24. This trade represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.73, for a total transaction of $50,060.85. Following the sale, the chief executive officer now directly owns 254,227 shares in the company, valued at $2,473,628.71. This trade represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,747 shares of company stock valued at $107,728 in the last quarter. 2.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Heritage Commerce

Several large investors have recently added to or reduced their stakes in the business. Quarry LP raised its holdings in shares of Heritage Commerce by 562.4% in the 4th quarter. Quarry LP now owns 3,153 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 2,677 shares in the last quarter. US Bancorp DE raised its stake in Heritage Commerce by 64.8% in the fourth quarter. US Bancorp DE now owns 3,473 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 1,365 shares in the last quarter. Two Sigma Securities LLC bought a new stake in Heritage Commerce during the fourth quarter valued at approximately $97,000. Y Intercept Hong Kong Ltd purchased a new position in Heritage Commerce in the 4th quarter worth approximately $99,000. Finally, Oxford Asset Management LLP purchased a new position in Heritage Commerce in the 4th quarter worth approximately $101,000. Institutional investors own 75.55% of the company's stock.

Heritage Commerce Company Profile

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. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.