Heritage Commerce (HTBK) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Heritage Commerce (NASDAQ:HTBK) from a hold rating to a buy rating in a research report report published on Thursday morning.

A number of other equities analysts have also commented on HTBK. Keefe, Bruyette & Woods upgraded shares of Heritage Commerce from a market perform rating to an outperform rating in a research report on Tuesday, March 13th. Zacks Investment Research upgraded shares of Heritage Commerce from a hold rating to a strong-buy rating and set a $19.00 price objective for the company in a research report on Wednesday, March 14th. Brean Capital restated a buy rating and issued a $17.50 price objective on shares of Heritage Commerce in a research report on Monday, January 29th. DA Davidson upgraded shares of Heritage Commerce from a neutral rating to a buy rating in a research report on Monday, February 12th. Finally, ValuEngine lowered shares of Heritage Commerce from a buy rating to a hold rating in a research report on Saturday, December 9th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $18.25.

Heritage Commerce stock opened at $16.18 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.76 and a quick ratio of 0.76. Heritage Commerce has a 1 year low of $12.76 and a 1 year high of $17.28. The company has a market cap of $619.14, a P/E ratio of 26.10, a PEG ratio of 1.59 and a beta of 0.60.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Heritage Commerce had a net margin of 20.56% and a return on equity of 11.46%. The firm had revenue of $29.01 million during the quarter, compared to the consensus estimate of $29.65 million. analysts predict that Heritage Commerce will post 1.02 EPS for the current fiscal year.

In other Heritage Commerce news, Director Jack W. Conner sold 24,500 shares of Heritage Commerce stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $15.47, for a total transaction of $379,015.00. Following the completion of the sale, the director now directly owns 83,324 shares in the company, valued at $1,289,022.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.69% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. lifted its position in Heritage Commerce by 471.6% during the fourth quarter. Meeder Asset Management Inc. now owns 8,100 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 6,683 shares during the last quarter. Trexquant Investment LP bought a new stake in Heritage Commerce during the third quarter valued at approximately $146,000. UBS Asset Management Americas Inc. bought a new stake in Heritage Commerce during the fourth quarter valued at approximately $172,000. Teacher Retirement System of Texas bought a new stake in Heritage Commerce during the fourth quarter valued at approximately $190,000. Finally, Acadian Asset Management LLC bought a new stake in Heritage Commerce during the fourth quarter valued at approximately $195,000. Institutional investors and hedge funds own 71.49% of the company’s stock.

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Heritage Commerce Company Profile

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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