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.
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.
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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