Heritage Commerce (NASDAQ:HTBK)‘s stock had its “buy” rating restated by Brean Capital in a research report issued to clients and investors on Monday. They currently have a $17.50 target price on the financial services provider’s stock. Brean Capital’s price objective would suggest a potential upside of 9.24% from the stock’s previous close.
Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Heritage Commerce from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. BidaskClub lowered shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Finally, ValuEngine lowered shares of Heritage Commerce from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.50.
Shares of Heritage Commerce (NASDAQ:HTBK) traded up $0.04 during trading on Monday, hitting $16.02. 115,764 shares of the stock were exchanged, compared to its average volume of 162,744. Heritage Commerce has a twelve month low of $12.76 and a twelve month high of $16.80. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $610.45, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 1.75 and a beta of 0.51.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc lifted its holdings in shares of Heritage Commerce by 20.4% in the second quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 1,339 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Heritage Commerce by 40.8% during the fourth quarter. Bank of Montreal Can now owns 13,042 shares of the financial services provider’s stock valued at $200,000 after buying an additional 3,782 shares during the period. Dynamic Technology Lab Private Ltd lifted its stake in shares of Heritage Commerce by 27.8% during the second quarter. Dynamic Technology Lab Private Ltd now owns 17,737 shares of the financial services provider’s stock valued at $245,000 after buying an additional 3,856 shares during the period. TD Asset Management Inc. lifted its stake in shares of Heritage Commerce by 9.9% during the third quarter. TD Asset Management Inc. now owns 48,553 shares of the financial services provider’s stock valued at $691,000 after buying an additional 4,384 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Heritage Commerce by 8.9% during the second quarter. JPMorgan Chase & Co. now owns 64,000 shares of the financial services provider’s stock worth $882,000 after purchasing an additional 5,240 shares during the last quarter. 70.10% of the stock is currently owned by institutional investors.
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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