Heritage Commerce Corp (NASDAQ:HTBK) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Heritage Commerce Corp (NASDAQ:HTBK) have received an average recommendation of “Moderate Buy” from the four ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $10.50.

A number of equities research analysts have recently commented on HTBK shares. StockNews.com raised Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Monday, May 27th. Piper Sandler cut their price target on shares of Heritage Commerce from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th.

Hedge Funds Weigh In On Heritage Commerce

A number of large investors have recently bought and sold shares of HTBK. Lindbrook Capital LLC boosted its holdings in Heritage Commerce by 47.7% during the fourth quarter. Lindbrook Capital LLC now owns 4,780 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,543 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Heritage Commerce by 14.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,966 shares of the financial services provider’s stock worth $146,000 after buying an additional 2,159 shares during the last quarter. Swiss National Bank grew its holdings in shares of Heritage Commerce by 2.3% in the 3rd quarter. Swiss National Bank now owns 134,000 shares of the financial services provider’s stock valued at $1,135,000 after acquiring an additional 3,000 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its position in shares of Heritage Commerce by 3.2% in the first quarter. Pacific Ridge Capital Partners LLC now owns 99,301 shares of the financial services provider’s stock valued at $852,000 after acquiring an additional 3,108 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Heritage Commerce by 185.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 3,155 shares in the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

Heritage Commerce Stock Up 6.0 %

Heritage Commerce stock opened at $8.70 on Monday. The firm has a market capitalization of $532.96 million, a price-to-earnings ratio of 9.46 and a beta of 0.92. The company’s 50 day simple moving average is $8.15 and its 200 day simple moving average is $8.56. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. Heritage Commerce has a fifty-two week low of $7.66 and a fifty-two week high of $10.22.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings results on Friday, April 26th. The financial services provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). Heritage Commerce had a return on equity of 8.36% and a net margin of 22.84%. The firm had revenue of $59.60 million for the quarter, compared to the consensus estimate of $43.83 million. As a group, sell-side analysts anticipate that Heritage Commerce will post 0.73 EPS for the current year.

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date of this dividend was Wednesday, May 8th. Heritage Commerce’s dividend payout ratio is presently 56.52%.

Heritage Commerce Company Profile

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. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.