Brean Capital Reiterates “Buy” Rating for Heritage Commerce Corp (HTBK)
Heritage Commerce Corp (NASDAQ:HTBK)‘s stock had its “buy” rating reiterated by research analysts at Brean Capital in a research report issued to clients and investors on Monday.
A number of other research analysts also recently weighed in on HTBK. Zacks Investment Research downgraded Heritage Commerce Corp from a “hold” rating to a “sell” rating in a report on Monday, July 3rd. ValuEngine raised Heritage Commerce Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Finally, BidaskClub cut Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Heritage Commerce Corp presently has a consensus rating of “Hold” and a consensus price target of $15.67.
Heritage Commerce Corp (NASDAQ HTBK) traded down 0.98% during mid-day trading on Monday, reaching $15.09. The company’s stock had a trading volume of 96,662 shares. The firm has a 50 day moving average price of $14.24 and a 200-day moving average price of $13.89. Heritage Commerce Corp has a 1-year low of $10.23 and a 1-year high of $15.30. The company has a market capitalization of $575.38 million, a PE ratio of 20.70 and a beta of 0.51.
Heritage Commerce Corp (NASDAQ:HTBK) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. The business had revenue of $28.78 million for the quarter, compared to analysts’ expectations of $28.70 million. Heritage Commerce Corp had a return on equity of 11.27% and a net margin of 26.40%. On average, equities analysts predict that Heritage Commerce Corp will post $0.81 EPS for the current fiscal year.
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In other Heritage Commerce Corp news, Director J Philip Dinapoli purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of $13.53 per share, for a total transaction of $67,650.00. Following the transaction, the director now directly owns 163,376 shares in the company, valued at $2,210,477.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Komas Julianne M. Biagini sold 3,650 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $13.65, for a total value of $49,822.50. Following the sale, the director now owns 25,696 shares in the company, valued at $350,750.40. The disclosure for this sale can be found here. Insiders own 5.69% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its holdings in Heritage Commerce Corp by 20.4% during the 2nd quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock worth $109,000 after buying an additional 1,339 shares in the last quarter. IFP Advisors Inc acquired a new position in Heritage Commerce Corp during the 2nd quarter worth $132,000. Principal Financial Group Inc. acquired a new position in Heritage Commerce Corp during the 2nd quarter worth $175,000. Voya Investment Management LLC acquired a new position in Heritage Commerce Corp during the 2nd quarter worth $189,000. Finally, CAPROCK Group Inc. acquired a new position in Heritage Commerce Corp during the 2nd quarter worth $198,000. Institutional investors and hedge funds own 69.47% of the company’s stock.
About Heritage Commerce Corp
Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
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