Heritage Commerce (NASDAQ:HTBK) Receives "Equal Weight" Rating from Stephens

Heritage Commerce (NASDAQ:HTBK - Get Free Report)'s stock had its "equal weight" rating reissued by Stephens in a research report issued on Monday,Benzinga reports. They presently have a $11.00 target price on the financial services provider's stock. Stephens' price target would suggest a potential upside of 13.40% from the stock's current price.

A number of other equities analysts also recently issued reports on HTBK. StockNews.com upgraded Heritage Commerce from a "sell" rating to a "hold" rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods decreased their target price on Heritage Commerce from $12.50 to $11.50 and set an "outperform" rating for the company in a research note on Friday.

Heritage Commerce Price Performance

HTBK traded up $0.16 on Monday, reaching $9.70. The stock had a trading volume of 605,651 shares, compared to its average volume of 350,947. Heritage Commerce has a fifty-two week low of $7.66 and a fifty-two week high of $11.27. The firm has a 50-day moving average of $9.84 and a 200-day moving average of $9.89. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $594.61 million, a price-to-earnings ratio of 13.66 and a beta of 0.96.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.17. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. As a group, sell-side analysts anticipate that Heritage Commerce will post 0.66 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP bought a new stake in Heritage Commerce during the third quarter worth $20,093,000. State Street Corp lifted its holdings in Heritage Commerce by 3.2% during the third quarter. State Street Corp now owns 1,965,643 shares of the financial services provider's stock worth $19,421,000 after acquiring an additional 61,630 shares during the period. AQR Capital Management LLC lifted its holdings in Heritage Commerce by 32.5% during the second quarter. AQR Capital Management LLC now owns 544,471 shares of the financial services provider's stock worth $4,737,000 after acquiring an additional 133,514 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Heritage Commerce by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 496,190 shares of the financial services provider's stock valued at $4,902,000 after buying an additional 6,884 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Heritage Commerce by 58.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider's stock valued at $4,350,000 after buying an additional 170,989 shares during the period. Hedge funds and other institutional investors own 75.55% of the company's stock.

Heritage Commerce Company Profile

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.