Heritage Commerce (NASDAQ:HTBK) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.
A number of other equities analysts have also recently commented on HTBK. Zacks Investment Research cut Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th. Brean Capital cut Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Friday, April 26th.
Heritage Commerce stock traded down $0.21 during trading hours on Thursday, reaching $11.82. The company had a trading volume of 141,429 shares, compared to its average volume of 183,768. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a 50-day simple moving average of $12.17. The stock has a market cap of $523.29 million, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 1.61 and a beta of 0.83. Heritage Commerce has a 12-month low of $10.84 and a 12-month high of $16.19.
In other Heritage Commerce news, Director Jack W. Conner bought 7,879 shares of Heritage Commerce stock in a transaction dated Wednesday, May 22nd. The shares were purchased at an average cost of $12.24 per share, with a total value of $96,438.96. Following the completion of the purchase, the director now owns 85,432 shares of the company’s stock, valued at $1,045,687.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Keith Wilton sold 5,575 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $12.21, for a total value of $68,070.75. Following the transaction, the chief operating officer now directly owns 108,483 shares in the company, valued at $1,324,577.43. The disclosure for this sale can be found here. Insiders acquired a total of 22,899 shares of company stock worth $276,618 over the last ninety days. Insiders own 4.22% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace North America L.P. purchased a new stake in Heritage Commerce in the first quarter worth $56,000. Legal & General Group Plc grew its stake in Heritage Commerce by 12.8% in the fourth quarter. Legal & General Group Plc now owns 7,135 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 811 shares during the period. BNP Paribas Arbitrage SA grew its stake in Heritage Commerce by 63,869.2% in the first quarter. BNP Paribas Arbitrage SA now owns 8,316 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 8,303 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Heritage Commerce in the second quarter worth $128,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Heritage Commerce in the second quarter worth $141,000. 74.28% of the stock is currently owned by hedge funds and other institutional investors.
About Heritage Commerce
Heritage Commerce Corp operates as the bank holding company for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.
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