Keefe, Bruyette & Woods upgraded shares of Heritage Commerce (NASDAQ:HTBK) from a market perform rating to an outperform rating in a research note released on Tuesday, The Fly reports.

A number of other research firms have also commented on HTBK. Zacks Investment Research lowered Heritage Commerce from a strong-buy rating to a hold rating in a research report on Wednesday, January 17th. Brean Capital set a $18.00 target price on Heritage Commerce and gave the company a buy rating in a research report on Friday, January 12th. BidaskClub raised Heritage Commerce from a sell rating to a hold rating in a research report on Thursday, January 11th. ValuEngine lowered Heritage Commerce from a buy rating to a hold rating in a research report on Saturday, December 9th. Finally, DA Davidson raised Heritage Commerce from a neutral rating to a buy rating in a research report on Monday, February 12th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Heritage Commerce has a consensus rating of Buy and an average target price of $17.25.

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Shares of Heritage Commerce (NASDAQ HTBK) opened at $16.84 on Tuesday. The company has a market capitalization of $637.96, a PE ratio of 20.88, a PEG ratio of 1.64 and a beta of 0.60. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.14. Heritage Commerce has a 1 year low of $12.76 and a 1 year high of $16.90.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). The business had revenue of $29.01 million for the quarter, compared to analyst estimates of $29.65 million. Heritage Commerce had a return on equity of 11.48% and a net margin of 20.56%. research analysts forecast that Heritage Commerce will post 1.02 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Wednesday, February 7th. This is a positive change from Heritage Commerce’s previous quarterly dividend of $0.10. Heritage Commerce’s dividend payout ratio (DPR) is currently 70.97%.

In related news, Director Jack W. Conner sold 24,500 shares of Heritage Commerce stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $15.47, for a total value of $379,015.00. Following the sale, the director now owns 83,324 shares of the company’s stock, valued at approximately $1,289,022.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.69% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its position in Heritage Commerce by 40.8% in the 4th quarter. Bank of Montreal Can now owns 13,042 shares of the financial services provider’s stock valued at $200,000 after buying an additional 3,782 shares during the last quarter. TD Asset Management Inc. raised its position in Heritage Commerce by 9.9% in the 3rd quarter. TD Asset Management Inc. now owns 48,553 shares of the financial services provider’s stock valued at $691,000 after buying an additional 4,384 shares during the last quarter. Kennedy Capital Management Inc. raised its position in Heritage Commerce by 1.4% in the 4th quarter. Kennedy Capital Management Inc. now owns 349,330 shares of the financial services provider’s stock valued at $5,352,000 after buying an additional 4,765 shares during the last quarter. Meeder Asset Management Inc. raised its position in Heritage Commerce by 471.6% in the 4th quarter. Meeder Asset Management Inc. now owns 8,100 shares of the financial services provider’s stock valued at $123,000 after buying an additional 6,683 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Heritage Commerce by 7.3% during the 4th quarter. Two Sigma Investments LP now owns 98,542 shares of the financial services provider’s stock worth $1,510,000 after purchasing an additional 6,693 shares during the last quarter. 71.49% 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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