Keefe, Bruyette & Woods Issues Pessimistic Forecast for Heritage Commerce (NASDAQ:HTBK) Stock Price

Heritage Commerce (NASDAQ:HTBK) had its price target decreased by equities research analysts at Keefe, Bruyette & Woods from $12.50 to $11.50 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 20.55% from the stock’s current price.

Separately, StockNews.com upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th.

Heritage Commerce Stock Performance

Shares of HTBK opened at $9.54 on Friday. The firm has a market capitalization of $584.80 million, a PE ratio of 13.44 and a beta of 0.96. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $9.84 and a 200 day moving average price of $9.88. Heritage Commerce has a 52-week low of $7.66 and a 52-week high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings results on Thursday, January 23rd. 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%. On average, sell-side analysts anticipate that Heritage Commerce will post 0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heritage Commerce

A number of institutional investors and hedge funds have recently modified their holdings of HTBK. State Street Corp raised its holdings in shares of Heritage Commerce by 3.2% during the third quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock valued at $19,421,000 after acquiring an additional 61,630 shares during the period. Barclays PLC grew its position in Heritage Commerce by 7.2% during the 3rd quarter. Barclays PLC now owns 216,439 shares of the financial services provider’s stock worth $2,139,000 after purchasing an additional 14,466 shares in the last quarter. Jane Street Group LLC raised its stake in Heritage Commerce by 55.6% during the 3rd quarter. Jane Street Group LLC now owns 103,596 shares of the financial services provider’s stock valued at $1,024,000 after purchasing an additional 36,997 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Heritage Commerce by 58.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider’s stock valued at $4,350,000 after purchasing an additional 170,989 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Heritage Commerce by 103.7% in 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 during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.

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.