Heritage Commerce (HTBK) Upgraded to Hold at BidaskClub

Heritage Commerce (NASDAQ:HTBK) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Thursday.

HTBK has been the topic of several other research reports. Brean Capital restated a “buy” rating on shares of Heritage Commerce in a report on Tuesday, January 2nd. ValuEngine downgraded shares of Heritage Commerce from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. Finally, Zacks Investment Research upgraded shares of Heritage Commerce from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Wednesday, September 27th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $16.67.

Heritage Commerce (NASDAQ HTBK) traded up $0.24 during mid-day trading on Thursday, hitting $16.25. 138,828 shares of the company’s stock traded hands, compared to its average volume of 189,491. The stock has a market capitalization of $611.57, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.51. Heritage Commerce has a 1-year low of $12.76 and a 1-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.

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, beating 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 business had revenue of $28.78 million during the quarter, compared to analyst estimates of $28.70 million. sell-side analysts expect that Heritage Commerce will post 0.82 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of HTBK. Westwood Holdings Group Inc. increased its holdings in shares of Heritage Commerce by 31.6% during the second quarter. Westwood Holdings Group Inc. now owns 1,002,565 shares of the financial services provider’s stock valued at $13,815,000 after acquiring an additional 240,467 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Heritage Commerce by 11.2% during the second quarter. Vanguard Group Inc. now owns 1,550,961 shares of the financial services provider’s stock valued at $21,373,000 after acquiring an additional 155,957 shares in the last quarter. State Street Corp increased its holdings in shares of Heritage Commerce by 36.1% during the second quarter. State Street Corp now owns 558,166 shares of the financial services provider’s stock valued at $7,693,000 after acquiring an additional 148,073 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Heritage Commerce by 7.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,569,841 shares of the financial services provider’s stock valued at $21,633,000 after acquiring an additional 109,558 shares in the last quarter. Finally, Penn Capital Management Co. Inc. increased its holdings in shares of Heritage Commerce by 96.3% during the second quarter. Penn Capital Management Co. Inc. now owns 220,836 shares of the financial services provider’s stock valued at $3,043,000 after acquiring an additional 108,314 shares in the last quarter. Hedge funds and other institutional investors own 69.98% of the company’s stock.

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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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