Heritage Commerce (HTBK) Stock Rating Reaffirmed by Brean Capital
Heritage Commerce (NASDAQ:HTBK)‘s stock had its “buy” rating restated by equities researchers at Brean Capital in a report released on Tuesday.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Heritage Commerce from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. BidaskClub cut shares of Heritage Commerce from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Finally, ValuEngine cut shares of Heritage Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. One equities 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. The company currently has an average rating of “Hold” and an average target price of $16.00.
Heritage Commerce (HTBK) traded down $0.25 during trading on Tuesday, hitting $15.86. 39,055 shares of the company’s stock traded hands, compared to its average volume of 86,149. Heritage Commerce has a 1 year low of $12.76 and a 1 year high of $16.63. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.77. The company has a market cap of $615.40, a PE ratio of 20.92, a P/E/G ratio of 2.01 and a beta of 0.51.
Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of Heritage Commerce by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 16,613 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 278 shares during the last quarter. John W. Rosenthal Capital Management Inc. increased its stake in shares of Heritage Commerce by 3.0% during the 2nd quarter. John W. Rosenthal Capital Management Inc. now owns 160,100 shares of the financial services provider’s stock worth $2,206,000 after purchasing an additional 4,700 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Heritage Commerce by 79.7% during the 2nd quarter. Alliancebernstein L.P. now owns 24,126 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 10,700 shares during the last quarter. Vanguard Group Inc. grew its stake in Heritage Commerce by 11.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,550,961 shares of the financial services provider’s stock valued at $21,373,000 after buying an additional 155,957 shares in the last quarter. Finally, PDT Partners LLC purchased a new position in Heritage Commerce in the 2nd quarter valued at approximately $413,000. Institutional investors own 69.98% of the company’s stock.
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Heritage Commerce Company Profile
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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