Brean Capital Begins Coverage on Heritage Commerce Corp (HTBK)
Brean Capital assumed coverage on shares of Heritage Commerce Corp (NASDAQ:HTBK) in a research report sent to investors on Tuesday morning. The firm issued a buy rating on the financial services provider’s stock.
Separately, Zacks Investment Research upgraded Heritage Commerce Corp from a sell rating to a hold rating in a research note on Wednesday, September 14th.
Shares of Heritage Commerce Corp (NASDAQ:HTBK) traded up 0.91% during mid-day trading on Tuesday, hitting $14.48. The company’s stock had a trading volume of 34,214 shares. The company has a market cap of $549.17 million, a price-to-earnings ratio of 22.24 and a beta of 0.72. The stock’s 50 day moving average price is $13.51 and its 200 day moving average price is $11.60. Heritage Commerce Corp has a 52-week low of $8.84 and a 52-week high of $14.66.
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In other Heritage Commerce Corp news, COO Keith Wilton sold 4,680 shares of the stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $12.48, for a total transaction of $58,406.40. Following the sale, the chief operating officer now directly owns 79,407 shares in the company, valued at approximately $990,999.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director W Kirk Wycoff sold 100,000 shares of the stock in a transaction on Monday, November 28th. The shares were sold at an average price of $12.50, for a total value of $1,250,000.00. The disclosure for this sale can be found here. 19.72% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD acquired a new stake in shares of Heritage Commerce Corp during the third quarter valued at approximately $20,223,000. Credit Suisse AG increased its stake in shares of Heritage Commerce Corp by 48.8% in the third quarter. Credit Suisse AG now owns 18,591 shares of the financial services provider’s stock valued at $203,000 after buying an additional 6,098 shares in the last quarter. Phocas Financial Corp. increased its stake in shares of Heritage Commerce Corp by 6.5% in the third quarter. Phocas Financial Corp. now owns 537,464 shares of the financial services provider’s stock valued at $5,880,000 after buying an additional 32,781 shares in the last quarter. Penn Capital Management Co. Inc. increased its stake in shares of Heritage Commerce Corp by 9.3% in the third quarter. Penn Capital Management Co. Inc. now owns 185,551 shares of the financial services provider’s stock valued at $2,030,000 after buying an additional 15,800 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Heritage Commerce Corp during the third quarter valued at approximately $12,295,000. Institutional investors and hedge funds own 67.30% of the company’s stock.
Heritage Commerce Corp Company Profile
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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