StockNews.com Lowers Heritage Commerce (NASDAQ:HTBK) to Sell

Heritage Commerce (NASDAQ:HTBK - Get Free Report) was downgraded by equities researchers at StockNews.com from a "hold" rating to a "sell" rating in a report released on Monday.

Other analysts have also issued research reports about the stock. Piper Sandler lifted their price objective on shares of Heritage Commerce from $10.00 to $11.00 and gave the stock an "overweight" rating in a research report on Friday, January 26th. Raymond James boosted their price target on shares of Heritage Commerce from $9.50 to $11.00 and gave the company an "outperform" rating in a research report on Friday, January 5th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Heritage Commerce from $12.00 to $11.00 and set an "outperform" rating on the stock in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $10.75.

Heritage Commerce Stock Down 2.0 %

Heritage Commerce stock traded down $0.17 during midday trading on Monday, hitting $8.41. 285,002 shares of the stock were exchanged, compared to its average volume of 409,147. Heritage Commerce has a 52-week low of $6.69 and a 52-week high of $10.22. The stock has a market capitalization of $514.44 million, a price-to-earnings ratio of 8.09 and a beta of 0.90. The business's 50-day moving average price is $8.51 and its 200-day moving average price is $8.76. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last announced 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 the consensus estimate of $46.38 million. Heritage Commerce had a return on equity of 9.78% and a net margin of 26.49%. On average, research analysts expect that Heritage Commerce will post 0.81 EPS for the current fiscal year.

Insider Activity at Heritage Commerce

In other Heritage Commerce news, Director Jack W. Conner sold 6,944 shares of the business's stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $8.92, for a total value of $61,940.48. Following the completion of the transaction, the director now owns 102,501 shares of the company's stock, valued at approximately $914,308.92. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Heritage Commerce

A number of hedge funds and other institutional investors have recently bought and sold shares of HTBK. BlackRock Inc. grew its stake in Heritage Commerce by 32.5% in the 2nd quarter. BlackRock Inc. now owns 7,529,426 shares of the financial services provider's stock worth $62,344,000 after buying an additional 1,847,750 shares in the last quarter. Boston Partners boosted its stake in shares of Heritage Commerce by 101.4% in the 4th quarter. Boston Partners now owns 1,893,847 shares of the financial services provider's stock valued at $18,718,000 after purchasing an additional 953,372 shares in the last quarter. Kennedy Capital Management LLC boosted its stake in shares of Heritage Commerce by 83.3% in the 2nd quarter. Kennedy Capital Management LLC now owns 1,136,231 shares of the financial services provider's stock valued at $9,408,000 after purchasing an additional 516,348 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Heritage Commerce in the 1st quarter valued at $2,832,000. Finally, Two Sigma Advisers LP boosted its stake in shares of Heritage Commerce by 132.7% in the 1st quarter. Two Sigma Advisers LP now owns 427,202 shares of the financial services provider's stock valued at $3,559,000 after purchasing an additional 243,600 shares in the last quarter. Hedge funds and other institutional investors 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.