Heritage Commerce (NASDAQ:HTBK) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Heritage Commerce (NASDAQ:HTBK) from a sell rating to a hold rating in a report published on Monday morning.

A number of other equities analysts have also recently commented on HTBK. Piper Sandler lifted their price objective on shares of Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods lifted their target price on shares of Heritage Commerce from $10.50 to $11.50 and gave the stock an “outperform” rating in a report on Friday, July 26th.

Heritage Commerce Stock Down 0.3 %

Shares of HTBK stock opened at $10.62 on Monday. Heritage Commerce has a 52-week low of $7.66 and a 52-week high of $11.01. The stock has a market cap of $651.01 million, a price-to-earnings ratio of 14.96 and a beta of 0.93. The firm’s 50-day moving average is $9.94 and its 200-day moving average is $9.33. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.73.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. The firm had revenue of $63.68 million for the quarter, compared to analyst estimates of $43.14 million. Sell-side analysts predict that Heritage Commerce will post 0.66 EPS for the current year.

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Thursday, November 7th. Heritage Commerce’s dividend payout ratio is currently 73.24%.

Hedge Funds Weigh In On Heritage Commerce

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its position in shares of Heritage Commerce by 185.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 3,155 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Heritage Commerce in the third quarter valued at approximately $73,000. FMR LLC grew its position in Heritage Commerce by 103.7% during the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after buying an additional 3,987 shares in the last quarter. CWM LLC increased its stake in 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 acquiring an additional 5,929 shares during the period. Finally, One Wealth Advisors LLC acquired a new position in Heritage Commerce in the 3rd quarter valued at $99,000. 75.55% of the stock is owned by institutional investors.

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.