Brean Capital Reaffirms “Buy” Rating for Heritage Commerce (HTBK)

Heritage Commerce (NASDAQ:HTBK)‘s stock had its “buy” rating reissued by analysts at Brean Capital in a research note issued to investors on Tuesday.

Several other equities analysts have also commented on the stock. BidaskClub lowered shares of Heritage Commerce from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Zacks Investment Research lowered shares of Heritage Commerce from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, ValuEngine lowered shares of Heritage Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $16.00.

Heritage Commerce (HTBK) opened at $16.15 on Tuesday. Heritage Commerce has a 1 year low of $12.76 and a 1 year high of $16.63. The company has a market cap of $624.57, a PE ratio of 21.23, a P/E/G ratio of 2.04 and a beta of 0.51. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.77.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Heritage Commerce had a net margin of 26.40% and a return on equity of 11.15%. The business had revenue of $28.78 million for the quarter, compared to analyst estimates of $28.70 million. analysts anticipate that Heritage Commerce will post 0.8 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in HTBK. Legal & General Group Plc increased its holdings in Heritage Commerce by 20.4% in the 2nd quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,339 shares during the period. IFP Advisors Inc bought a new position in Heritage Commerce in the 2nd quarter valued at about $132,000. Trexquant Investment LP bought a new position in Heritage Commerce in the 3rd quarter valued at about $146,000. Principal Financial Group Inc. bought a new position in Heritage Commerce in the 2nd quarter valued at about $175,000. Finally, Voya Investment Management LLC bought a new position in Heritage Commerce in the 2nd quarter valued at about $189,000. 69.98% of the stock is currently owned by hedge funds and other institutional investors.

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About Heritage Commerce

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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