Heritage Commerce (NASDAQ:HTBK) Upgraded to "Hold" at Wall Street Zen

Heritage Commerce (NASDAQ:HTBK - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Friday.

A number of other equities analysts have also recently weighed in on the company. Raymond James Financial set a $10.00 price target on Heritage Commerce in a research note on Monday, April 28th. Keefe, Bruyette & Woods dropped their target price 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. Finally, Stephens restated an "overweight" rating and issued a $11.00 price target on shares of Heritage Commerce in a research report on Monday, April 28th.

Heritage Commerce Price Performance

HTBK stock traded up $0.02 on Friday, hitting $9.79. 866,176 shares of the company's stock traded hands, compared to its average volume of 380,294. The stock has a market cap of $603.06 million, a price-to-earnings ratio of 14.40 and a beta of 0.79. Heritage Commerce has a 1-year low of $8.09 and a 1-year high of $11.27. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average of $9.29 and a 200-day moving average of $9.48.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $46.06 million during the quarter, compared to analyst estimates of $45.89 million. Heritage Commerce had a return on equity of 6.11% and a net margin of 16.38%. On average, analysts forecast that Heritage Commerce will post 0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Heritage Commerce

Large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Heritage Commerce by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,920 shares of the financial services provider's stock valued at $318,000 after purchasing an additional 1,115 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Heritage Commerce by 3.5% during the 4th quarter. First Trust Advisors LP now owns 38,379 shares of the financial services provider's stock valued at $360,000 after acquiring an additional 1,297 shares in the last quarter. US Bancorp DE grew its holdings in shares of Heritage Commerce by 64.8% during the 4th quarter. US Bancorp DE now owns 3,473 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 1,365 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in shares of Heritage Commerce by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 90,202 shares of the financial services provider's stock worth $859,000 after acquiring an additional 1,484 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Heritage Commerce by 143.5% during the first quarter. PNC Financial Services Group Inc. now owns 2,851 shares of the financial services provider's stock worth $27,000 after acquiring an additional 1,680 shares in the last quarter. Institutional investors and hedge funds own 75.55% 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. 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.

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