Heritage Commerce (HTBK) Upgraded to Hold at BidaskClub
Heritage Commerce (NASDAQ:HTBK) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Thursday.
Several other brokerages also recently weighed in on HTBK. Brean Capital set a $16.00 price target on shares of Heritage Commerce and gave the stock a “buy” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Heritage Commerce from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Tuesday, October 31st. Finally, ValuEngine downgraded shares of Heritage Commerce from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $16.67.
Shares of Heritage Commerce (NASDAQ HTBK) traded up $0.24 during trading hours on Thursday, reaching $16.25. 138,828 shares of the company traded hands, compared to its average volume of 189,491. Heritage Commerce has a one year low of $12.76 and a one year high of $16.63. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.14. The firm has a market cap of $611.57, a P/E ratio of 21.10, a PEG ratio of 1.52 and a beta of 0.51.
Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Heritage Commerce had a net margin of 26.40% and a return on equity of 11.15%. The company had revenue of $28.78 million for the quarter, compared to the consensus estimate of $28.70 million. research analysts anticipate that Heritage Commerce will post 0.82 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc grew its stake in shares of Heritage Commerce by 20.4% during the 2nd quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,339 shares during the period. Trexquant Investment LP acquired a new stake in shares of Heritage Commerce during the 3rd quarter worth approximately $146,000. Principal Financial Group Inc. acquired a new stake in shares of Heritage Commerce during the 2nd quarter worth approximately $175,000. Voya Investment Management LLC acquired a new stake in shares of Heritage Commerce during the 2nd quarter worth approximately $189,000. Finally, Dynamic Technology Lab Private Ltd grew its stake in shares of Heritage Commerce by 27.8% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 17,737 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 3,856 shares during the period. 69.98% of the stock is currently owned by institutional investors and hedge funds.
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Heritage Commerce 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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