Heritage Commerce Corp (NASDAQ:HTBK) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Heritage Commerce Corp (NASDAQ:HTBKGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the four research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $10.75.

Several research firms have recently commented on HTBK. Piper Sandler lifted their target price on Heritage Commerce from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods lowered their price target on shares of Heritage Commerce from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. StockNews.com lowered shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Raymond James lifted their target price on shares of Heritage Commerce from $9.50 to $11.00 and gave the stock an “outperform” rating in a report on Friday, January 5th.

View Our Latest Stock Analysis on Heritage Commerce

Insiders Place Their Bets

In other news, Director Jack W. Conner sold 6,944 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $8.92, for a total transaction of $61,940.48. Following the completion of the sale, the director now owns 102,501 shares of the company’s stock, valued at $914,308.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.15% of the company’s stock.

Hedge Funds Weigh In On Heritage Commerce

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Heritage Commerce by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 3,185,168 shares of the financial services provider’s stock valued at $31,597,000 after buying an additional 66,664 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Heritage Commerce by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 508,796 shares of the financial services provider’s stock valued at $5,047,000 after purchasing an additional 29,291 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Heritage Commerce by 11.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,807 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 1,539 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Heritage Commerce during the 4th quarter worth about $2,236,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Heritage Commerce by 1,070.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 12,299 shares of the financial services provider’s stock worth $122,000 after buying an additional 11,248 shares during the period. 72.80% of the stock is owned by institutional investors.

Heritage Commerce Price Performance

NASDAQ HTBK opened at $8.13 on Friday. The stock’s 50 day simple moving average is $8.76 and its 200 day simple moving average is $8.78. Heritage Commerce has a one year low of $6.69 and a one year high of $10.22. The firm has a market cap of $497.30 million, a PE ratio of 7.67 and a beta of 0.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.72.

Heritage Commerce (NASDAQ:HTBKGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). Heritage Commerce had a return on equity of 9.78% and a net margin of 26.49%. The company had revenue of $44.24 million for the quarter, compared to the consensus estimate of $46.38 million. As a group, sell-side analysts forecast that Heritage Commerce will post 0.81 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date of this dividend was Wednesday, February 7th. Heritage Commerce’s dividend payout ratio is currently 49.06%.

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.

Featured Articles

Receive News & Ratings for Heritage Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heritage Commerce and related companies with MarketBeat.com's FREE daily email newsletter.