Recent Analysts’ Ratings Updates for Heritage Commerce (HTBK)

A number of research firms have changed their ratings and price targets for Heritage Commerce (NASDAQ: HTBK):

  • 10/4/2019 – Heritage Commerce was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 10/1/2019 – Heritage Commerce was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Heritage Commerce Corp. is the holding company of Heritage Bank of Commerce, Heritage Bank East Bay, Heritage Bank South Valley and Bank of Los Altos. The company offers a range of loans, primarily commercial, including real estate, construction, Small Business Administration), inventory and accounts receivable, and equipment loans. The company also accepts checking, savings, and time deposits; NOW and money market deposit accounts; and provides travelers’ checks, safe deposit, and other customary non-deposit banking services. “
  • 9/25/2019 – Heritage Commerce was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 9/24/2019 – Heritage Commerce was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Heritage Commerce Corp. is the holding company of Heritage Bank of Commerce, Heritage Bank East Bay, Heritage Bank South Valley and Bank of Los Altos. The company offers a range of loans, primarily commercial, including real estate, construction, Small Business Administration), inventory and accounts receivable, and equipment loans. The company also accepts checking, savings, and time deposits; NOW and money market deposit accounts; and provides travelers’ checks, safe deposit, and other customary non-deposit banking services. “
  • 9/18/2019 – Heritage Commerce was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Heritage Commerce Corp. is the holding company of Heritage Bank of Commerce, Heritage Bank East Bay, Heritage Bank South Valley and Bank of Los Altos. The company offers a range of loans, primarily commercial, including real estate, construction, Small Business Administration), inventory and accounts receivable, and equipment loans. The company also accepts checking, savings, and time deposits; NOW and money market deposit accounts; and provides travelers’ checks, safe deposit, and other customary non-deposit banking services. “
  • 9/12/2019 – Heritage Commerce was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 8/6/2019 – Heritage Commerce was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Heritage Commerce Corp. is the holding company of Heritage Bank of Commerce, Heritage Bank East Bay, Heritage Bank South Valley and Bank of Los Altos. The company offers a range of loans, primarily commercial, including real estate, construction, Small Business Administration), inventory and accounts receivable, and equipment loans. The company also accepts checking, savings, and time deposits; NOW and money market deposit accounts; and provides travelers’ checks, safe deposit, and other customary non-deposit banking services. “

Shares of HTBK stock traded down $0.01 during trading hours on Friday, hitting $11.34. 6,622 shares of the company were exchanged, compared to its average volume of 223,055. The firm has a market cap of $497.62 million, a PE ratio of 10.70 and a beta of 0.84. Heritage Commerce Corp. has a 1 year low of $10.84 and a 1 year high of $15.78. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average of $11.71 and a 200 day moving average of $12.09.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.02). Heritage Commerce had a return on equity of 13.39% and a net margin of 33.46%. The company had revenue of $33.68 million for the quarter, compared to analysts’ expectations of $34.80 million. Analysts expect that Heritage Commerce Corp. will post 1.09 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of HTBK. Rhumbline Advisers raised its holdings in Heritage Commerce by 44.6% in the first quarter. Rhumbline Advisers now owns 74,877 shares of the financial services provider’s stock valued at $906,000 after buying an additional 23,093 shares during the period. Granite Investment Partners LLC raised its holdings in Heritage Commerce by 127.0% in the first quarter. Granite Investment Partners LLC now owns 90,222 shares of the financial services provider’s stock valued at $1,091,000 after buying an additional 50,473 shares during the period. Westwood Holdings Group Inc. raised its holdings in Heritage Commerce by 22.3% in the first quarter. Westwood Holdings Group Inc. now owns 1,078,961 shares of the financial services provider’s stock valued at $13,055,000 after buying an additional 197,037 shares during the period. Palouse Capital Management Inc. raised its holdings in Heritage Commerce by 10.8% in the first quarter. Palouse Capital Management Inc. now owns 21,153 shares of the financial services provider’s stock valued at $256,000 after buying an additional 2,061 shares during the period. Finally, Marshall Wace LLP raised its holdings in Heritage Commerce by 4.5% in the first quarter. Marshall Wace LLP now owns 175,058 shares of the financial services provider’s stock valued at $2,118,000 after buying an additional 7,543 shares during the period. Hedge funds and other institutional investors own 77.85% of the company’s stock.

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. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.

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