BidaskClub upgraded shares of Heritage Commerce (NASDAQ:HTBK) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.
A number of other equities analysts also recently weighed in on HTBK. Brean Capital reissued a buy rating on shares of Heritage Commerce in a research note on Sunday, September 30th. ValuEngine downgraded shares of Heritage Commerce from a hold rating to a sell rating in a research note on Tuesday, November 6th. Three equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $18.50.
Shares of NASDAQ HTBK opened at $12.57 on Friday. Heritage Commerce has a twelve month low of $10.84 and a twelve month high of $18.10. The firm has a market cap of $532.77 million, a P/E ratio of 15.71, a PEG ratio of 1.43 and a beta of 0.75. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11.
Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Thursday, October 25th. The financial services provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Heritage Commerce had a net margin of 17.74% and a return on equity of 12.45%. The business had revenue of $34.66 million during the quarter, compared to the consensus estimate of $34.56 million. On average, research analysts predict that Heritage Commerce will post 0.98 EPS for the current fiscal year.
In other news, Director Steven L. Hallgrimson bought 7,000 shares of the stock in a transaction that occurred on Wednesday, December 12th. The stock was acquired at an average price of $12.99 per share, with a total value of $90,930.00. Following the completion of the purchase, the director now directly owns 90,628 shares of the company’s stock, valued at $1,177,257.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack W. Conner bought 10,418 shares of the stock in a transaction that occurred on Monday, November 12th. The shares were purchased at an average cost of $14.42 per share, with a total value of $150,227.56. Following the purchase, the director now directly owns 68,756 shares of the company’s stock, valued at $991,461.52. The disclosure for this purchase can be found here. Insiders have purchased 32,001 shares of company stock valued at $451,637 in the last three months. 5.40% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. Teachers Advisors LLC grew its holdings in Heritage Commerce by 1.6% in the third quarter. Teachers Advisors LLC now owns 131,189 shares of the financial services provider’s stock worth $1,957,000 after purchasing an additional 2,072 shares during the period. Meeder Asset Management Inc. grew its holdings in Heritage Commerce by 100.3% in the third quarter. Meeder Asset Management Inc. now owns 7,088 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 3,549 shares during the period. California Public Employees Retirement System grew its holdings in Heritage Commerce by 3.9% in the second quarter. California Public Employees Retirement System now owns 96,870 shares of the financial services provider’s stock worth $1,646,000 after purchasing an additional 3,670 shares during the period. Security National Bank grew its holdings in Heritage Commerce by 2.3% in the third quarter. Security National Bank now owns 180,370 shares of the financial services provider’s stock worth $2,691,000 after purchasing an additional 4,013 shares during the period. Finally, Summit Global Investments grew its holdings in Heritage Commerce by 21.2% in the third quarter. Summit Global Investments now owns 45,100 shares of the financial services provider’s stock worth $673,000 after purchasing an additional 7,900 shares during the period. Institutional investors and hedge funds own 73.77% of the company’s stock.
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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