BidaskClub upgraded shares of Heritage Commerce (NASDAQ:HTBK) from a strong sell rating to a sell rating in a report released on Thursday, BidAskClub reports.
Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Heritage Commerce from a sell rating to a hold rating in a research report on Tuesday, August 6th. ValuEngine raised shares of Heritage Commerce from a strong sell rating to a sell rating in a report on Thursday, August 1st.
HTBK stock traded up $0.10 during midday trading on Thursday, reaching $12.43. The company had a trading volume of 143,575 shares, compared to its average volume of 167,991. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average price of $11.67 and a 200 day moving average price of $12.25. Heritage Commerce has a fifty-two week low of $10.84 and a fifty-two week high of $15.78. The firm has a market capitalization of $522.85 million, a PE ratio of 11.73, a P/E/G ratio of 1.64 and a beta of 0.84.
Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.02). The company had revenue of $33.68 million during the quarter, compared to analyst estimates of $34.80 million. Heritage Commerce had a return on equity of 13.39% and a net margin of 33.46%. Research analysts predict that Heritage Commerce will post 1.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.12 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.48 annualized dividend and a yield of 3.86%. Heritage Commerce’s payout ratio is currently 45.28%.
Several institutional investors and hedge funds have recently made changes to their positions in HTBK. Swiss National Bank raised its position in shares of Heritage Commerce by 2.1% in the 2nd quarter. Swiss National Bank now owns 76,500 shares of the financial services provider’s stock valued at $937,000 after buying an additional 1,600 shares in the last quarter. Tiedemann Advisors LLC boosted its stake in shares of Heritage Commerce by 0.3% in the 2nd quarter. Tiedemann Advisors LLC now owns 606,001 shares of the financial services provider’s stock valued at $7,424,000 after purchasing an additional 1,632 shares during the last quarter. Palouse Capital Management Inc. boosted its stake in Heritage Commerce by 10.8% during the first quarter. Palouse Capital Management Inc. now owns 21,153 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 2,061 shares in the last quarter. Globeflex Capital L P boosted its stake in Heritage Commerce by 26.5% during the first quarter. Globeflex Capital L P now owns 13,788 shares of the financial services provider’s stock worth $167,000 after acquiring an additional 2,888 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in Heritage Commerce during the first quarter worth $56,000. 77.85% of the stock is owned by 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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