Heritage Commerce (NASDAQ:HTBK) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Heritage Commerce Corp (NASDAQ:HTBK) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.59 and traded as high as $12.50. Heritage Commerce shares last traded at $12.45, with a volume of 524,568 shares.

Analyst Ratings Changes

HTBK has been the subject of several recent research reports. Zacks Research downgraded shares of Heritage Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Raymond James Financial lowered Heritage Commerce from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 7th. Stephens restated an “equal weight” rating on shares of Heritage Commerce in a report on Monday, January 5th. Piper Sandler upped their price target on Heritage Commerce from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Finally, Janney Montgomery Scott cut Heritage Commerce from a “buy” rating to a “neutral” rating and raised their price objective for the company from $12.00 to $14.00 in a research note on Monday, December 22nd. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Heritage Commerce presently has a consensus rating of “Hold” and an average target price of $12.25.

Heritage Commerce Price Performance

The stock has a market cap of $762.94 million, a PE ratio of 17.79 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The business has a 50 day moving average price of $11.59 and a two-hundred day moving average price of $10.59.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.24 EPS for the quarter. Heritage Commerce had a return on equity of 7.18% and a net margin of 16.31%.The business had revenue of $50.01 million for the quarter. Research analysts expect that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Thursday, November 6th. Heritage Commerce’s payout ratio is presently 74.29%.

Hedge Funds Weigh In On Heritage Commerce

Several institutional investors have recently added to or reduced their stakes in the stock. HoldCo Asset Management LP purchased a new stake in Heritage Commerce in the 2nd quarter worth about $16,121,000. Strs Ohio bought a new stake in Heritage Commerce in the 1st quarter valued at about $547,000. Creative Planning lifted its holdings in Heritage Commerce by 38.5% during the second quarter. Creative Planning now owns 173,005 shares of the financial services provider’s stock valued at $1,718,000 after purchasing an additional 48,130 shares during the last quarter. Voya Investment Management LLC boosted its position in Heritage Commerce by 231.1% during the third quarter. Voya Investment Management LLC now owns 64,976 shares of the financial services provider’s stock worth $645,000 after purchasing an additional 45,350 shares during the period. Finally, Geode Capital Management LLC boosted its position in Heritage Commerce by 5.9% during the second quarter. Geode Capital Management LLC now owns 1,565,168 shares of the financial services provider’s stock worth $15,544,000 after purchasing an additional 87,229 shares during the period. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Company Profile

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.