Brean Capital set a $18.00 price target on Heritage Commerce (NASDAQ:HTBK) in a research note released on Friday, January 12th. The firm currently has a buy rating on the financial services provider’s stock.
A number of other research analysts have also recently weighed in on HTBK. 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 research report on Wednesday, September 27th. ValuEngine cut shares of Heritage Commerce from a buy rating to a hold rating in a report on Saturday, December 9th. Finally, BidaskClub cut shares of Heritage Commerce from a buy rating to a hold rating in a report on Tuesday, December 19th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $16.67.
Shares of Heritage Commerce (NASDAQ:HTBK) opened at $16.48 on Friday. Heritage Commerce has a 1 year low of $12.76 and a 1 year high of $16.80. The firm has a market cap of $639.10, a price-to-earnings ratio of 21.40, a P/E/G ratio of 1.83 and a beta of 0.51. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.77 and a quick ratio of 0.76.
Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.22 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analysts’ expectations of $28.70 million. analysts forecast that Heritage Commerce will post 0.81 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its stake in Heritage Commerce by 20.4% in the second quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 1,339 shares during the period. Bank of Montreal Can lifted its position in shares of Heritage Commerce by 40.8% during the fourth 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. Dynamic Technology Lab Private Ltd lifted its position in shares of Heritage Commerce by 27.8% during the second quarter. Dynamic Technology Lab Private Ltd now owns 17,737 shares of the financial services provider’s stock valued at $245,000 after buying an additional 3,856 shares during the last quarter. TD Asset Management Inc. lifted its position in shares of Heritage Commerce by 9.9% during the third 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. Finally, JPMorgan Chase & Co. lifted its position in shares of Heritage Commerce by 8.9% during the second quarter. JPMorgan Chase & Co. now owns 64,000 shares of the financial services provider’s stock valued at $882,000 after buying an additional 5,240 shares during the last quarter. 69.98% of the stock is owned by 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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