Heritage Commerce Corp (NASDAQ:HTBK) Given Average Rating of “Moderate Buy” by Analysts

Shares of Heritage Commerce Corp (NASDAQ:HTBK) have been given a consensus rating of “Moderate Buy” by the four research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $10.50.

Several brokerages have recently weighed in on HTBK. StockNews.com cut Heritage Commerce from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Piper Sandler reduced their price objective on Heritage Commerce from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HTBK. Allspring Global Investments Holdings LLC raised its position in Heritage Commerce by 185.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 3,155 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Heritage Commerce by 47.7% in the fourth quarter. Lindbrook Capital LLC now owns 4,780 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,543 shares in the last quarter. GAMMA Investing LLC purchased a new position in Heritage Commerce in the fourth quarter worth approximately $49,000. CWM LLC grew its holdings in Heritage Commerce by 148.0% during the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 5,929 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of Heritage Commerce in the 1st quarter valued at approximately $91,000. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Commerce Stock Up 2.9 %

Shares of HTBK opened at $10.47 on Friday. The stock has a 50 day moving average price of $8.47 and a 200 day moving average price of $8.49. Heritage Commerce has a one year low of $7.66 and a one year high of $10.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $641.39 million, a price-to-earnings ratio of 11.38 and a beta of 0.94.

Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Friday, April 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The business had revenue of $59.60 million for the quarter, compared to analysts’ expectations of $43.83 million. Heritage Commerce had a return on equity of 8.36% and a net margin of 22.84%. Equities research analysts forecast that Heritage Commerce will post 0.73 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were paid a $0.13 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $0.52 annualized dividend and a dividend yield of 4.97%. Heritage Commerce’s dividend payout ratio (DPR) is 56.52%.

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.