Brokerages Set Heritage Commerce Corp (NASDAQ:HTBK) PT at $13.13

Shares of Heritage Commerce Corp (NASDAQ:HTBK) have been assigned an average rating of “Hold” from the seven brokerages that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $13.1250.

A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of Heritage Commerce from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. DA Davidson reissued a “neutral” rating and issued a $14.50 price target on shares of Heritage Commerce in a research report on Wednesday, February 4th. Finally, Zacks Research lowered shares of Heritage Commerce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 9th.

Institutional Investors Weigh In On Heritage Commerce

Hedge funds and other institutional investors have recently modified their holdings of the stock. Clearstead Advisors LLC grew its stake in shares of Heritage Commerce by 129.5% in the fourth quarter. Clearstead Advisors LLC now owns 3,599 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 2,031 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Heritage Commerce by 42.1% during the first quarter. PNC Financial Services Group Inc. now owns 4,739 shares of the financial services provider’s stock worth $59,000 after buying an additional 1,405 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Heritage Commerce by 16,272.7% during the second quarter. EverSource Wealth Advisors LLC now owns 5,403 shares of the financial services provider’s stock worth $54,000 after buying an additional 5,370 shares in the last quarter. Globeflex Capital L P acquired a new stake in Heritage Commerce during the fourth quarter worth $66,000. Finally, Larson Financial Group LLC boosted its stake in Heritage Commerce by 495.3% during the third quarter. Larson Financial Group LLC now owns 5,620 shares of the financial services provider’s stock worth $56,000 after buying an additional 4,676 shares in the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

Heritage Commerce Price Performance

Shares of HTBK opened at $13.45 on Thursday. The firm has a market cap of $828.43 million, a PE ratio of 17.24 and a beta of 0.69. The firm’s 50 day moving average price is $13.18 and its 200 day moving average price is $12.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.74. Heritage Commerce has a twelve month low of $8.73 and a twelve month high of $13.83.

Heritage Commerce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.9%. Heritage Commerce’s dividend payout ratio (DPR) is currently 66.67%.

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.