Brean Capital set a $18.00 price target on Heritage Commerce (NASDAQ:HTBK) in a report published on Friday, January 12th. The firm currently has a buy rating on the financial services provider’s stock.
HTBK has been the subject of several other research reports. Zacks Investment Research cut shares of Heritage Commerce from a buy rating to a hold rating in a report on Monday, October 30th. BidaskClub cut shares of Heritage Commerce from a hold rating to a sell rating in a report on Wednesday, December 27th. Finally, ValuEngine cut shares of Heritage Commerce from a buy rating to a hold rating in a report on Saturday, December 9th.
Heritage Commerce (NASDAQ:HTBK) traded down $0.06 during trading on Friday, hitting $16.00. 115,630 shares of the stock traded hands, compared to its average volume of 153,070. The firm has a market capitalization of $613.51, a PE ratio of 25.81, a PEG ratio of 1.57 and a beta of 0.61. Heritage Commerce has a 12 month low of $12.76 and a 12 month high of $16.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.77 and a quick ratio of 0.76.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th will be given a dividend of $0.11 per share. This is a positive change from Heritage Commerce’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 2.75%. The ex-dividend date is Wednesday, February 7th. Heritage Commerce’s dividend payout ratio is 64.52%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. raised its position in Heritage Commerce by 79.7% during the second quarter. Alliancebernstein L.P. now owns 24,126 shares of the financial services provider’s stock worth $332,000 after acquiring an additional 10,700 shares in the last quarter. Vanguard Group Inc. raised its position in 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 worth $21,373,000 after acquiring an additional 155,957 shares in the last quarter. State Street Corp raised its position in Heritage Commerce by 36.1% during the second quarter. State Street Corp now owns 558,166 shares of the financial services provider’s stock worth $7,693,000 after acquiring an additional 148,073 shares in the last quarter. PDT Partners LLC bought a new stake in Heritage Commerce during the second quarter worth $413,000. Finally, Swiss National Bank bought a new stake in Heritage Commerce during the second quarter worth $827,000. 70.10% 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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