Heritage Commerce Corp (NASDAQ:HTBK) Receives $12.25 Consensus Target Price from Brokerages

Heritage Commerce Corp (NASDAQ:HTBK) has received an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $12.25.

A number of equities analysts recently commented on the company. Stephens lifted their price objective on Heritage Commerce from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. DA Davidson restated a “neutral” rating and set a $14.50 price target (up previously from $12.50) on shares of Heritage Commerce in a report on Thursday, December 18th. Zacks Research raised shares of Heritage Commerce from a “strong sell” rating to a “strong-buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Heritage Commerce in a research note on Monday, December 29th. Finally, Janney Montgomery Scott lowered shares of Heritage Commerce from a “buy” rating to a “neutral” rating and boosted their target price for the company from $12.00 to $14.00 in a report on Monday, December 22nd.

Institutional Investors Weigh In On Heritage Commerce

Large investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC acquired a new position in shares of Heritage Commerce during the first quarter valued at about $371,000. Strs Ohio acquired a new position in Heritage Commerce during the 1st quarter worth approximately $547,000. HoldCo Asset Management LP acquired a new position in Heritage Commerce during the 2nd quarter worth approximately $16,121,000. Creative Planning boosted its holdings in Heritage Commerce by 38.5% in the second quarter. Creative Planning now owns 173,005 shares of the financial services provider’s stock worth $1,718,000 after acquiring an additional 48,130 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Heritage Commerce in the first quarter valued at approximately $504,000. Institutional investors and hedge funds own 75.55% of the company’s stock.

Heritage Commerce Price Performance

Shares of NASDAQ:HTBK opened at $12.06 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. Heritage Commerce has a 52 week low of $8.09 and a 52 week high of $12.89. The firm has a market cap of $739.04 million, a PE ratio of 17.23 and a beta of 0.80. The firm’s fifty day moving average is $11.30 and its 200-day moving average is $10.44.

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

Heritage Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Thursday, November 6th. Heritage Commerce’s payout ratio is currently 74.29%.

About Heritage Commerce

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.