Heritage Commerce (HTBK) Raised to Hold at BidaskClub

Heritage Commerce (NASDAQ:HTBK) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Thursday, January 11th.

Several other equities analysts have also weighed in on HTBK. Zacks Investment Research upgraded Heritage Commerce from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Wednesday, September 27th. Brean Capital restated a “buy” rating on shares of Heritage Commerce in a report on Monday, October 30th. Finally, ValuEngine cut 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 midday trading on Thursday, hitting $16.00. The company’s stock had a trading volume of 115,630 shares, compared to its average volume of 153,070. 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 has a twelve month low of $12.76 and a twelve month high of $16.80. The stock has a market cap of $613.51, a price-to-earnings ratio of 25.81, a P/E/G ratio of 1.57 and a beta of 0.61.

A number of hedge funds and other institutional investors have recently made changes to their positions in HTBK. Westwood Holdings Group Inc. raised its position in Heritage Commerce by 31.6% in 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 purchasing an additional 240,467 shares during the period. Vanguard Group Inc. increased its position 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 worth $21,373,000 after acquiring an additional 155,957 shares during the period. State Street Corp increased its position 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 worth $7,693,000 after acquiring an additional 148,073 shares during the period. Dimensional Fund Advisors LP increased its position 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 worth $21,633,000 after acquiring an additional 109,558 shares during the period. Finally, Penn Capital Management Co. Inc. increased its position 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 worth $3,043,000 after acquiring an additional 108,314 shares during the period. 70.10% of the stock is currently owned by institutional investors.

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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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