Heritage Commerce (HTBK) Stock Rating Reaffirmed by Brean Capital

Heritage Commerce (NASDAQ:HTBK)‘s stock had its “buy” rating reissued by research analysts at Brean Capital in a note issued to investors on Tuesday.

Several other equities research analysts have also recently commented on HTBK. BidaskClub cut Heritage Commerce from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Zacks Investment Research raised Heritage Commerce from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Tuesday, October 31st. Finally, ValuEngine cut Heritage Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $16.00.

Heritage Commerce (NASDAQ:HTBK) opened at $16.15 on Tuesday. The firm has a market capitalization of $624.57, a P/E ratio of 21.23, a PEG ratio of 2.04 and a beta of 0.51. Heritage Commerce has a 1 year low of $12.76 and a 1 year high of $16.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.77 and a quick ratio of 0.76.

Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The business had revenue of $28.78 million for the quarter, compared to the consensus estimate of $28.70 million. Heritage Commerce had a return on equity of 11.15% and a net margin of 26.40%. sell-side analysts expect that Heritage Commerce will post 0.8 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP increased its stake in Heritage Commerce by 227.1% during the third quarter. GSA Capital Partners LLP now owns 89,575 shares of the financial services provider’s stock worth $1,275,000 after acquiring an additional 62,187 shares during the last quarter. Jane Street Group LLC acquired a new stake in Heritage Commerce during the third quarter worth $275,000. OxFORD Asset Management LLP increased its stake in Heritage Commerce by 26.8% during the third quarter. OxFORD Asset Management LLP now owns 61,331 shares of the financial services provider’s stock worth $875,000 after acquiring an additional 12,949 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Heritage Commerce by 5.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,652,384 shares of the financial services provider’s stock worth $23,513,000 after acquiring an additional 82,543 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Heritage Commerce by 147.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 129,836 shares of the financial services provider’s stock worth $1,848,000 after acquiring an additional 77,336 shares during the last quarter. 69.98% of the stock is owned by institutional investors.

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About Heritage Commerce

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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