Heritage Commerce Corp. (NASDAQ:HTBK) has earned a consensus broker rating score of 1.67 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company.
Brokerages have set a 1-year consensus price target of $12.00 for the company and are expecting that the company will post $0.19 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Heritage Commerce Corp. an industry rank of 178 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research cut shares of Heritage Commerce Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th.
In other news, Director John M. Eggemeyer III sold 915,000 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $11.70, for a total value of $10,705,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Philip Dinapoli purchased 5,000 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was acquired at an average cost of $10.43 per share, with a total value of $52,150.00. Following the transaction, the director now directly owns 496,125 shares in the company, valued at approximately $5,174,583.75. The disclosure for this purchase can be found here. 19.72% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the company. Penn Capital Management Co. Inc. acquired a new stake in shares of Heritage Commerce Corp. during the second quarter valued at $1,787,000. Stieven Capital Advisors L.P. boosted its stake in shares of Heritage Commerce Corp. by 95.8% in the second quarter. Stieven Capital Advisors L.P. now owns 321,509 shares of the financial services provider’s stock valued at $3,385,000 after buying an additional 157,270 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Heritage Commerce Corp. during the second quarter valued at $1,460,000. BlackRock Fund Advisors boosted its stake in shares of Heritage Commerce Corp. by 8.3% in the second quarter. BlackRock Fund Advisors now owns 671,547 shares of the financial services provider’s stock valued at $7,071,000 after buying an additional 51,278 shares during the last quarter. Finally, Consector Capital LP acquired a new stake in shares of Heritage Commerce Corp. during the first quarter valued at $512,000. 52.13% of the stock is owned by hedge funds and other institutional investors.
Shares of Heritage Commerce Corp. (NASDAQ:HTBK) traded down 1.46% during midday trading on Monday, hitting $10.78. 7,566 shares of the company traded hands. Heritage Commerce Corp. has a 52 week low of $8.84 and a 52 week high of $12.38. The company has a 50-day moving average price of $11.38 and a 200-day moving average price of $10.67. The stock has a market capitalization of $348.14 million, a P/E ratio of 19.01 and a beta of 0.91.
Heritage Commerce Corp. (NASDAQ:HTBK) last released its quarterly earnings results on Friday, July 29th. The financial services provider reported $0.19 EPS for the quarter. Heritage Commerce Corp. had a net margin of 21.08% and a return on equity of 9.21%. Analysts anticipate that Heritage Commerce Corp. will post $0.74 earnings per share for the current fiscal year.
About Heritage Commerce Corp.
Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
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