Heritage Commerce (NASDAQ:HTBK) Raised to “Hold” at StockNews.com

Heritage Commerce (NASDAQ:HTBK) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other equities research analysts also recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a report on Friday, July 26th. Piper Sandler upped their price objective on Heritage Commerce from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, July 26th.

Heritage Commerce Price Performance

NASDAQ:HTBK opened at $10.48 on Friday. The stock has a market capitalization of $642.32 million, a PE ratio of 14.76 and a beta of 0.93. Heritage Commerce has a 1-year low of $7.66 and a 1-year high of $11.01. The firm has a fifty day simple moving average of $9.85 and a 200 day simple moving average of $9.22. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.39%. The company had revenue of $63.68 million during the quarter, compared to the consensus estimate of $43.14 million. On average, research analysts expect that Heritage Commerce will post 0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Heritage Commerce

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position 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 valued at $42,000 after purchasing an additional 3,155 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Heritage Commerce during the 3rd quarter worth $73,000. CWM LLC lifted its position in shares of Heritage Commerce by 148.0% during the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock worth $86,000 after buying an additional 5,929 shares during the last quarter. ProShare Advisors LLC acquired a new stake in Heritage Commerce in the first quarter valued at about $91,000. Finally, One Wealth Advisors LLC bought a new position in Heritage Commerce in the third quarter valued at about $99,000. 75.55% 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. 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.