Heritage Commerce (NASDAQ:HTBK) Upgraded at StockNews.com

Heritage Commerce (NASDAQ:HTBKGet Free Report) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

A number of other research firms also recently commented on HTBK. Keefe, Bruyette & Woods dropped their price objective on Heritage Commerce from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, January 26th. Raymond James upped their price target on shares of Heritage Commerce from $9.50 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Finally, Piper Sandler upped their price target 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.75.

Check Out Our Latest Report on Heritage Commerce

Heritage Commerce Trading Down 1.8 %

Shares of Heritage Commerce stock opened at $8.28 on Friday. 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 has a 1 year low of $6.69 and a 1 year high of $10.22. The company has a market capitalization of $506.49 million, a P/E ratio of 7.81 and a beta of 0.89. The business has a 50 day moving average price of $8.59 and a 200 day moving average price of $8.76.

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

Insider Buying and Selling at Heritage Commerce

In other news, Director Jack W. Conner sold 6,944 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $8.92, for a total transaction of $61,940.48. Following the transaction, the director now owns 102,501 shares of the company’s stock, valued at $914,308.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Heritage Commerce

Large investors have recently modified their holdings of the stock. Rosenthal Henry Capital Advisors Inc. bought a new position in shares of Heritage Commerce during the third quarter worth about $1,863,000. Swiss National Bank raised its stake in Heritage Commerce by 2.3% during the third quarter. Swiss National Bank now owns 134,000 shares of the financial services provider’s stock worth $1,135,000 after acquiring an additional 3,000 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Heritage Commerce by 17.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 78,664 shares of the financial services provider’s stock worth $666,000 after acquiring an additional 11,550 shares during the period. Federated Hermes Inc. raised its stake in Heritage Commerce by 5.5% during the third quarter. Federated Hermes Inc. now owns 81,122 shares of the financial services provider’s stock worth $687,000 after acquiring an additional 4,220 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Heritage Commerce by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 463,745 shares of the financial services provider’s stock worth $3,928,000 after acquiring an additional 12,343 shares during the period. Institutional investors own 72.80% of the company’s stock.

About Heritage Commerce

(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.

Recommended Stories

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.