Heritage Commerce (NASDAQ:HTBK) Stock Rating Lowered by StockNews.com

Heritage Commerce (NASDAQ:HTBK) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Heritage Commerce Trading Down 0.7 %

Shares of HTBK stock opened at $10.66 on Tuesday. The firm has a fifty day moving average of $10.04 and a 200-day moving average of $9.43. The stock has a market cap of $653.46 million, a price-to-earnings ratio of 15.14 and a beta of 0.93. Heritage Commerce has a 52-week low of $7.66 and a 52-week high of $11.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. The firm had revenue of $63.68 million during the quarter, compared to analyst estimates of $43.14 million. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. On average, equities research analysts forecast that Heritage Commerce will post 0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. grew its holdings in shares of Heritage Commerce by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 46,089 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 1,302 shares during the last quarter. Barclays PLC grew its stake in Heritage Commerce by 7.2% during the third quarter. Barclays PLC now owns 216,439 shares of the financial services provider’s stock worth $2,139,000 after buying an additional 14,466 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Heritage Commerce by 55.6% during the third quarter. Jane Street Group LLC now owns 103,596 shares of the financial services provider’s stock worth $1,024,000 after buying an additional 36,997 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Heritage Commerce during the third quarter worth approximately $20,093,000. Finally, State Street Corp raised its stake in shares of Heritage Commerce by 3.2% in the third quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock valued at $19,421,000 after acquiring an additional 61,630 shares during the last quarter. 75.55% of the stock is owned by institutional investors.

About Heritage Commerce

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. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.