Zacks: Analysts Set $16.17 Target Price for Heritage Commerce Corp (HTBK)
Shares of Heritage Commerce Corp (NASDAQ:HTBK) have been given an average broker rating score of 2.00 (Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating and two have assigned a strong buy rating to the company.
Brokerages have set a 1 year consensus target price of $16.17 for the company and are expecting that the company will post $0.23 EPS for the current quarter, according to Zacks. Zacks has also assigned Heritage Commerce an industry rank of 96 out of 265 based on the ratings given to related companies.
A number of equities research analysts recently issued reports on the company. Brean Capital reissued a “buy” rating on shares of Heritage Commerce in a research note on Monday, October 30th. ValuEngine lowered Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Zacks Investment Research raised Heritage Commerce from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Wednesday, September 27th. Finally, BidaskClub downgraded Heritage Commerce from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd.
Heritage Commerce (HTBK) opened at $15.37 on Friday. 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 current ratio of 0.77 and a quick ratio of 0.76. The firm has a market capitalization of $603.56, a PE ratio of 20.52, a price-to-earnings-growth ratio of 1.97 and a beta of 0.51.
Heritage Commerce (NASDAQ:HTBK) last issued its quarterly 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. Heritage Commerce had a return on equity of 11.15% and a net margin of 26.40%. The firm had revenue of $28.78 million during the quarter, compared to analyst estimates of $28.70 million. equities research analysts forecast that Heritage Commerce will post 0.8 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, November 6th. This represents a $0.40 annualized dividend and a yield of 2.60%. Heritage Commerce’s payout ratio is currently 51.95%.
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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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