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

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

HTBK has been the subject of a number of other research reports. Piper Sandler increased their price target on Heritage Commerce from $10.00 to $12.00 and gave the company an "overweight" rating in a report on Friday, July 26th. Keefe, Bruyette & Woods increased their target price on Heritage Commerce from $10.50 to $11.50 and gave the stock an "outperform" rating in a report on Friday, July 26th.

Heritage Commerce Stock Up 0.8 %

Shares of HTBK stock traded up $0.08 during trading hours on Friday, reaching $10.48. The company had a trading volume of 273,672 shares, compared to its average volume of 392,216. The company has a market capitalization of $642.36 million, a P/E ratio of 14.76 and a beta of 0.93. Heritage Commerce has a twelve month low of $7.66 and a twelve month high of $11.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. The stock's fifty day simple moving average is $9.84 and its 200 day simple moving average is $9.19.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.17 EPS for the quarter, meeting analysts' consensus estimates of $0.17. The firm had revenue of $63.68 million during the quarter, compared to the consensus estimate of $43.14 million. Heritage Commerce had a return on equity of 6.39% and a net margin of 17.61%. As a group, sell-side analysts expect that Heritage Commerce will post 0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of Heritage Commerce by 830.2% during 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 period. American Century Companies Inc. raised its position in shares of Heritage Commerce by 21.2% during the 2nd quarter. American Century Companies Inc. now owns 921,389 shares of the financial services provider's stock worth $8,016,000 after purchasing an additional 160,977 shares during the period. EJF Capital LLC acquired a new stake in shares of Heritage Commerce during the 1st quarter worth approximately $1,321,000. AQR Capital Management LLC raised its position in shares of Heritage Commerce by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 544,471 shares of the financial services provider's stock worth $4,737,000 after purchasing an additional 133,514 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 123,973 shares during the period. Institutional investors own 75.55% of the company's stock.

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.

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