Heritage Commerce (HTBK) Rating Reiterated by Brean Capital

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.

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 analysts’ consensus estimates of $0.21 by $0.01. Heritage Commerce had a net margin of 20.56% and a return on equity of 11.48%. The business had revenue of $28.78 million for the quarter, compared to analyst estimates of $28.70 million. equities analysts forecast that Heritage Commerce will post 0.92 EPS for the current fiscal year.

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.

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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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