Heritage Commerce Corp (NASDAQ:HTBK) Given Consensus Rating of “Buy” by Brokerages

Heritage Commerce Corp (NASDAQ:HTBK) has been given an average rating of “Buy” by the six research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $11.50.

HTBK has been the topic of a number of recent research reports. Piper Sandler lifted their price target on shares of Heritage Commerce from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Wall Street Zen upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Stephens increased their price target on shares of Heritage Commerce from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Heritage Commerce in a research note on Monday. Finally, Zacks Research upgraded Heritage Commerce from a “strong sell” rating to a “strong-buy” rating in a research note on Wednesday, October 29th.

Heritage Commerce Price Performance

Shares of Heritage Commerce stock opened at $11.91 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $729.84 million, a PE ratio of 17.01 and a beta of 0.81. The firm has a fifty day moving average price of $10.48 and a two-hundred day moving average price of $10.08. Heritage Commerce has a fifty-two week low of $8.09 and a fifty-two week high of $11.97.

Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Wednesday, November 5th. The financial services provider reported $0.24 earnings per share for the quarter. Heritage Commerce had a net margin of 16.31% and a return on equity of 7.18%. The business had revenue of $50.01 million during the quarter. Analysts expect that Heritage Commerce will post 0.8 EPS for the current year.

Heritage Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Thursday, November 6th. Heritage Commerce’s dividend payout ratio is 74.29%.

Institutional Investors Weigh In On Heritage Commerce

Institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in shares of Heritage Commerce by 143.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,851 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,680 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Heritage Commerce by 56.5% during the third quarter. Parkside Financial Bank & Trust now owns 5,026 shares of the financial services provider’s stock worth $50,000 after buying an additional 1,815 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Heritage Commerce by 16,272.7% during the second quarter. EverSource Wealth Advisors LLC now owns 5,403 shares of the financial services provider’s stock worth $54,000 after buying an additional 5,370 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Heritage Commerce by 495.3% in the third quarter. Larson Financial Group LLC now owns 5,620 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 4,676 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Heritage Commerce by 66.7% in the 1st quarter. US Bancorp DE now owns 5,789 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 2,316 shares in the last quarter. Institutional investors and hedge funds 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.