Heritage Commerce (NASDAQ:HTBK) Rating Increased to Hold at StockNews.com

Heritage Commerce (NASDAQ:HTBK - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Wednesday.

Heritage Commerce Trading Up 0.6 %

HTBK stock traded up $0.06 during trading on Wednesday, hitting $10.53. The company had a trading volume of 341,327 shares, compared to its average volume of 387,444. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. Heritage Commerce has a 52-week low of $7.66 and a 52-week high of $11.27. The company has a 50 day simple moving average of $10.09 and a 200-day simple moving average of $9.51. The firm has a market capitalization of $645.49 million, a P/E ratio of 14.75 and a beta of 0.94.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. The firm had revenue of $63.68 million during the quarter, compared to analyst estimates of $43.14 million. As a group, research analysts forecast that Heritage Commerce will post 0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heritage Commerce

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Heritage Commerce by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider's stock worth $28,392,000 after acquiring an additional 123,973 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Heritage Commerce by 14.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,966 shares of the financial services provider's stock valued at $146,000 after buying an additional 2,159 shares during the period. CWM LLC lifted its holdings in shares of Heritage Commerce by 148.0% during the second quarter. CWM LLC now owns 9,936 shares of the financial services provider's stock valued at $86,000 after purchasing an additional 5,929 shares during the last quarter. Diversified Trust Co lifted its stake in Heritage Commerce by 13.7% in the 2nd quarter. Diversified Trust Co now owns 18,752 shares of the financial services provider's stock worth $163,000 after acquiring an additional 2,262 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Heritage Commerce by 830.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider's stock worth $8,912,000 after purchasing an additional 914,249 shares during the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.

About Heritage Commerce

Heritage Commerce Corp operates as the bank holding company for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.