Heritage Commerce (NASDAQ:HTBK) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
Other research analysts also recently issued reports about the stock. Brean Capital reissued a “buy” rating and issued a $17.50 target price on shares of Heritage Commerce in a research report on Monday, January 29th. Keefe, Bruyette & Woods raised shares of Heritage Commerce from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 13th. ValuEngine downgraded shares of Heritage Commerce from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th. Zacks Investment Research raised shares of Heritage Commerce from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a research report on Wednesday, March 14th. Finally, DA Davidson raised shares of Heritage Commerce from a “neutral” rating to a “buy” rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Heritage Commerce has a consensus rating of “Buy” and an average target price of $18.25.
Heritage Commerce stock opened at $16.18 on Thursday. The stock has a market cap of $633.68, a P/E ratio of 26.10, a PEG ratio of 1.62 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.14. Heritage Commerce has a 52 week low of $12.76 and a 52 week high of $17.28.
Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The business had revenue of $29.01 million during the quarter, compared to analyst estimates of $29.65 million. Heritage Commerce had a return on equity of 11.46% and a net margin of 20.56%. research analysts expect that Heritage Commerce will post 1.02 earnings per share for the current fiscal year.
In related news, Director Jack W. Conner sold 24,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $15.47, for a total transaction of $379,015.00. Following the completion of the sale, the director now directly owns 83,324 shares in the company, valued at $1,289,022.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.69% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Heritage Commerce by 1.1% during the fourth quarter. BlackRock Inc. now owns 2,898,549 shares of the financial services provider’s stock worth $44,406,000 after purchasing an additional 32,414 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Heritage Commerce by 5.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,652,384 shares of the financial services provider’s stock worth $23,513,000 after purchasing an additional 82,543 shares during the period. Thrivent Financial For Lutherans boosted its holdings in shares of Heritage Commerce by 2.3% during the fourth quarter. Thrivent Financial For Lutherans now owns 718,238 shares of the financial services provider’s stock worth $11,003,000 after purchasing an additional 16,428 shares during the period. Millennium Management LLC boosted its holdings in shares of Heritage Commerce by 237.4% during the fourth quarter. Millennium Management LLC now owns 613,489 shares of the financial services provider’s stock worth $9,399,000 after purchasing an additional 431,652 shares during the period. Finally, State Street Corp boosted its holdings in shares of Heritage Commerce by 36.1% during the second quarter. State Street Corp now owns 558,166 shares of the financial services provider’s stock worth $7,693,000 after purchasing an additional 148,073 shares during the period. Institutional investors and hedge funds own 71.49% of the company’s stock.
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About Heritage Commerce
Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
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