Heritage Commerce (NASDAQ:HTBK) Rating Increased to Hold at StockNews.com

Heritage Commerce (NASDAQ:HTBK) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Several other equities research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a research report on Friday, July 26th. Piper Sandler boosted their price target on Heritage Commerce from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, July 26th.

Heritage Commerce Trading Down 0.8 %

Shares of HTBK stock opened at $10.53 on Monday. Heritage Commerce has a 1 year low of $7.66 and a 1 year high of $11.01. The company’s fifty day simple moving average is $9.95 and its two-hundred day simple moving average is $9.35. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $645.49 million, a price-to-earnings ratio of 14.83 and a beta of 0.93.

Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $63.68 million during the quarter, compared to analyst estimates of $43.14 million. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. As a group, analysts anticipate that Heritage Commerce will post 0.66 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in Heritage Commerce by 185.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 3,155 shares during the period. nVerses Capital LLC bought a new stake in Heritage Commerce during the third quarter worth about $73,000. FMR LLC grew its holdings in Heritage Commerce by 103.7% in the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 3,987 shares during the period. CWM LLC increased its stake in shares of Heritage Commerce by 148.0% during the second quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 5,929 shares in the last quarter. Finally, One Wealth Advisors LLC purchased a new position in shares of Heritage Commerce during the third quarter valued at approximately $99,000. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Heritage Commerce Company Profile

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.