Heritage Commerce Corp (NASDAQ:HTBK) Receives Average Rating of "Moderate Buy" from Analysts

Heritage Commerce Corp (NASDAQ:HTBK - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the four brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $10.75.

A number of research firms have issued reports on HTBK. Keefe, Bruyette & Woods cut their price objective on shares of Heritage Commerce from $12.00 to $11.00 and set an "outperform" rating on the stock in a report on Friday, January 26th. Piper Sandler boosted their price target on shares of Heritage Commerce from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, January 26th. StockNews.com upgraded shares of Heritage Commerce from a "sell" rating to a "hold" rating in a research note on Tuesday. Finally, Raymond James boosted their target price on Heritage Commerce from $9.50 to $11.00 and gave the stock an "outperform" rating in a research note on Friday, January 5th.

Insider Transactions at Heritage Commerce

In related news, Director Jack W. Conner sold 6,944 shares of the company's stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $8.92, for a total value of $61,940.48. Following the transaction, the director now owns 102,501 shares in the company, valued at $914,308.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Heritage Commerce

Several institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors boosted its position in shares of Heritage Commerce by 132.4% in the second quarter. Captrust Financial Advisors now owns 3,596 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 2,049 shares during the period. Lindbrook Capital LLC lifted its stake in Heritage Commerce by 47.7% in the 4th quarter. Lindbrook Capital LLC now owns 4,780 shares of the financial services provider's stock worth $47,000 after purchasing an additional 1,543 shares in the last quarter. GAMMA Investing LLC bought a new position in Heritage Commerce in the 4th quarter valued at $49,000. Clear Street Markets LLC purchased a new position in shares of Heritage Commerce during the 4th quarter valued at $56,000. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Heritage Commerce by 35.7% in the first quarter. Great West Life Assurance Co. Can now owns 6,253 shares of the financial services provider's stock worth $73,000 after purchasing an additional 1,646 shares during the period. 75.55% of the stock is owned by hedge funds and other institutional investors.

Heritage Commerce Stock Down 3.9 %

Shares of HTBK traded down $0.32 on Wednesday, reaching $7.90. The company's stock had a trading volume of 606,989 shares, compared to its average volume of 404,081. Heritage Commerce has a twelve month low of $6.69 and a twelve month high of $10.22. The stock has a market capitalization of $483.24 million, a PE ratio of 7.45 and a beta of 0.90. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average of $8.32 and a 200-day moving average of $8.74.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.02). The company had revenue of $44.24 million during the quarter, compared to analysts' expectations of $46.38 million. Heritage Commerce had a return on equity of 9.78% and a net margin of 26.49%. Equities analysts predict that Heritage Commerce will post 0.81 EPS for the current year.

Heritage Commerce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date of this dividend was Wednesday, February 7th. Heritage Commerce's payout ratio is 49.06%.

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.