Heritage Commerce (NASDAQ:HTBK) Upgraded at BidaskClub

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BidaskClub upgraded shares of Heritage Commerce (NASDAQ:HTBK) from a strong sell rating to a sell rating in a report released on Thursday, BidAskClub reports.

HTBK has been the subject of several other research reports. ValuEngine raised Heritage Commerce from a strong sell rating to a sell rating in a research note on Thursday, August 1st. Zacks Investment Research raised Heritage Commerce from a sell rating to a hold rating in a research note on Tuesday, August 6th.

Shares of HTBK opened at $12.43 on Thursday. Heritage Commerce has a 1 year low of $10.84 and a 1 year high of $15.78. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.73 and a quick ratio of 0.72. The company has a market capitalization of $536.34 million, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 1.61 and a beta of 0.84. The business has a 50-day moving average of $11.68 and a 200-day moving average of $12.24.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.02). Heritage Commerce had a return on equity of 13.39% and a net margin of 33.46%. The company had revenue of $33.68 million for the quarter, compared to the consensus estimate of $34.80 million. As a group, sell-side analysts anticipate that Heritage Commerce will post 1.09 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.48 annualized dividend and a yield of 3.86%. Heritage Commerce’s dividend payout ratio is currently 45.28%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HTBK. Dimensional Fund Advisors LP grew its stake in Heritage Commerce by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,221,513 shares of the financial services provider’s stock worth $25,192,000 after purchasing an additional 76,529 shares during the period. BNP Paribas Arbitrage SA grew its stake in Heritage Commerce by 63,869.2% during the first quarter. BNP Paribas Arbitrage SA now owns 8,316 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 8,303 shares during the period. Alps Advisors Inc. acquired a new stake in Heritage Commerce during the first quarter worth approximately $374,000. Rhumbline Advisers grew its stake in Heritage Commerce by 44.6% during the first quarter. Rhumbline Advisers now owns 74,877 shares of the financial services provider’s stock worth $906,000 after purchasing an additional 23,093 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Heritage Commerce by 25.6% during the first quarter. Victory Capital Management Inc. now owns 112,536 shares of the financial services provider’s stock worth $1,362,000 after purchasing an additional 22,967 shares during the period. 77.85% of the stock is owned by institutional investors and hedge funds.

Heritage Commerce Company Profile

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. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.

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