Brean Capital Reaffirms Buy Rating for Heritage Commerce (HTBK)

Brean Capital restated their buy rating on shares of Heritage Commerce (NASDAQ:HTBK) in a report issued on Thursday morning.

Other research analysts have also issued research reports about the company. BidaskClub upgraded Heritage Commerce from a sell rating to a hold rating in a report on Thursday, January 11th. ValuEngine lowered Heritage Commerce from a buy rating to a hold rating in a report on Saturday, December 9th. Keefe, Bruyette & Woods upgraded Heritage Commerce from a market perform rating to an outperform rating in a report on Tuesday, March 13th. Zacks Investment Research lowered Heritage Commerce from a buy rating to a hold rating in a report on Saturday, March 31st. Finally, DA Davidson upgraded Heritage Commerce from a neutral rating to a buy rating in a report on Monday, February 12th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $18.25.

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Shares of NASDAQ:HTBK opened at $16.26 on Thursday. The company has a market capitalization of $622.27, a price-to-earnings ratio of 20.33, a PEG ratio of 1.59 and a beta of 0.58. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.76. Heritage Commerce has a 52-week low of $12.76 and a 52-week high of $17.28.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). Heritage Commerce had a return on equity of 11.46% and a net margin of 20.56%. The firm had revenue of $29.01 million during the quarter, compared to the consensus estimate of $29.65 million. equities research analysts anticipate that Heritage Commerce will post 1.02 earnings per share for the current year.

In related news, Director Jack W. Conner sold 24,500 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $15.47, for a total transaction of $379,015.00. Following the completion of the sale, the director now directly owns 83,324 shares of the company’s stock, valued at $1,289,022.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Heritage Commerce by 1.1% during the fourth quarter. BlackRock Inc. now owns 2,898,549 shares of the financial services provider’s stock valued at $44,406,000 after acquiring an additional 32,414 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Heritage Commerce by 5.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,652,384 shares of the financial services provider’s stock valued at $23,513,000 after acquiring an additional 82,543 shares during the last quarter. Thrivent Financial For Lutherans increased its position in shares of Heritage Commerce by 2.3% during the fourth quarter. Thrivent Financial For Lutherans now owns 718,238 shares of the financial services provider’s stock valued at $11,003,000 after acquiring an additional 16,428 shares during the last quarter. Millennium Management LLC increased its position in shares of Heritage Commerce by 237.4% during the fourth quarter. Millennium Management LLC now owns 613,489 shares of the financial services provider’s stock valued at $9,399,000 after acquiring an additional 431,652 shares during the last quarter. Finally, Kennedy Capital Management Inc. increased its position in Heritage Commerce by 1.4% in the fourth quarter. Kennedy Capital Management Inc. now owns 349,330 shares of the financial services provider’s stock worth $5,352,000 after buying an additional 4,765 shares during the last quarter. 71.36% of the stock is 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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