Heritage Commerce Corp (NASDAQ:HTBK) Given Average Rating of “Hold” by Brokerages

Shares of Heritage Commerce Corp (NASDAQ:HTBK) have earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $13.1250.

HTBK has been the topic of a number of research reports. Weiss Ratings upgraded Heritage Commerce from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Zacks Research lowered Heritage Commerce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 9th.

Heritage Commerce Price Performance

NASDAQ:HTBK opened at $13.45 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average is $13.43 and its two-hundred day moving average is $12.86. Heritage Commerce has a 52 week low of $8.73 and a 52 week high of $13.83. The stock has a market capitalization of $828.43 million, a price-to-earnings ratio of 17.24 and a beta of 0.69.

Hedge Funds Weigh In On Heritage Commerce

Several large investors have recently bought and sold shares of HTBK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Heritage Commerce by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,402 shares of the financial services provider’s stock valued at $337,000 after buying an additional 1,482 shares during the last quarter. Empowered Funds LLC increased its holdings in Heritage Commerce by 8.5% in the first quarter. Empowered Funds LLC now owns 171,866 shares of the financial services provider’s stock valued at $1,636,000 after buying an additional 13,519 shares during the last quarter. Jane Street Group LLC increased its holdings in Heritage Commerce by 158.2% in the first quarter. Jane Street Group LLC now owns 144,919 shares of the financial services provider’s stock valued at $1,380,000 after buying an additional 88,801 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Heritage Commerce in the first quarter valued at $316,000. Finally, Rhumbline Advisers increased its holdings in Heritage Commerce by 19.9% in the second quarter. Rhumbline Advisers now owns 109,442 shares of the financial services provider’s stock valued at $1,087,000 after buying an additional 18,150 shares during the last quarter. Hedge funds and other institutional investors own 75.55% of the company’s stock.

About Heritage Commerce

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.