Heritage Commerce (NASDAQ:HTBK - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday.
HTBK has been the topic of several other research reports. Piper Sandler upped their price objective on shares of Heritage Commerce from $10.00 to $11.00 and gave the company an "overweight" rating in a report on Friday, January 26th. 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. Finally, Raymond James upped their price objective on shares of Heritage Commerce from $9.50 to $11.00 and gave the company an "outperform" rating in a report on Friday, January 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.75.
Check Out Our Latest Research Report on Heritage Commerce
Heritage Commerce Stock Down 0.4 %
Shares of HTBK stock traded down $0.03 during mid-day trading on Tuesday, hitting $8.22. 256,962 shares of the stock traded hands, compared to its average volume of 401,098. The stock has a market cap of $502.81 million, a P/E ratio of 7.75 and a beta of 0.90. The stock's fifty day moving average is $8.34 and its two-hundred day moving average is $8.74. Heritage Commerce has a 52-week low of $6.69 and a 52-week high of $10.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77.
Heritage Commerce (NASDAQ:HTBK - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $44.24 million for the quarter, compared to analysts' expectations of $46.38 million. Heritage Commerce had a net margin of 26.49% and a return on equity of 9.78%. Equities analysts predict that Heritage Commerce will post 0.81 EPS for the current year.
Insider Buying and Selling
In related news, Director Jack W. Conner sold 6,944 shares of the 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 transaction, the director now owns 102,501 shares in the company, valued at approximately $914,308.92. The sale was disclosed in a filing with the SEC, which is available through this link. 4.15% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Heritage Commerce
Several hedge funds have recently bought and sold shares of HTBK. JPMorgan Chase & Co. boosted its position in Heritage Commerce by 24.4% in the 1st quarter. JPMorgan Chase & Co. now owns 831,342 shares of the financial services provider's stock worth $9,352,000 after purchasing an additional 162,840 shares in the last quarter. Raymond James & Associates lifted its position in shares of Heritage Commerce by 10.5% during the 1st quarter. Raymond James & Associates now owns 11,827 shares of the financial services provider's stock valued at $133,000 after buying an additional 1,121 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Heritage Commerce by 124.6% during the 1st quarter. MetLife Investment Management LLC now owns 31,366 shares of the financial services provider's stock valued at $353,000 after buying an additional 17,402 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Heritage Commerce by 35.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 6,253 shares of the financial services provider's stock valued at $73,000 after buying an additional 1,646 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Heritage Commerce by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,706,613 shares of the financial services provider's stock valued at $30,450,000 after buying an additional 47,252 shares in the last quarter. Hedge funds and other institutional investors own 75.55% of the company's stock.
Heritage Commerce Company Profile
(
Get Free Report)
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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