Heritage Commerce (NASDAQ:HTBK) Price Target Lowered to $11.50 at Keefe, Bruyette & Woods

Heritage Commerce (NASDAQ:HTBK) had its target price reduced by equities researchers at Keefe, Bruyette & Woods from $12.50 to $11.50 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 25.14% from the company’s current price.

Separately, StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th.

Heritage Commerce Trading Up 0.8 %

Shares of HTBK stock opened at $9.19 on Friday. The stock has a market capitalization of $563.35 million, a P/E ratio of 12.94 and a beta of 0.96. 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 firm’s 50 day moving average is $9.86 and its 200 day moving average is $9.87. Heritage Commerce has a 12-month low of $7.66 and a 12-month high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. Research analysts expect that Heritage Commerce will post 0.66 earnings per share for the current year.

Institutional Trading of Heritage Commerce

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP purchased a new stake in shares of Heritage Commerce during the third quarter valued at $20,093,000. Assenagon Asset Management S.A. boosted its position in Heritage Commerce by 58.4% in the 4th 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. AQR Capital Management LLC grew its stake in Heritage Commerce by 32.5% in the 2nd 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 in the last quarter. State Street Corp increased its position in shares of 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. Finally, GSA Capital Partners LLP grew its stake in Heritage Commerce by 49.4% in the third quarter. GSA Capital Partners LLP now owns 127,528 shares of the financial services provider’s stock worth $1,260,000 after purchasing an additional 42,167 shares in the last quarter. Hedge funds and other 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.