StockNews.com Upgrades Heritage Commerce (NASDAQ:HTBK) to “Hold”

Heritage Commerce (NASDAQ:HTBK) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

Heritage Commerce Stock Down 1.1 %

Shares of HTBK opened at $10.47 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $641.81 million, a price-to-earnings ratio of 14.75 and a beta of 0.94. Heritage Commerce has a 1 year low of $7.66 and a 1 year high of $11.27. The business’s 50 day simple moving average is $10.08 and its 200-day simple moving average is $9.50.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. The company had revenue of $63.68 million for the quarter, compared to the consensus estimate of $43.14 million. As a group, equities analysts expect that Heritage Commerce will post 0.66 earnings per share for the current fiscal year.

Institutional Trading of Heritage Commerce

Several hedge funds and other institutional investors have recently bought and sold shares of HTBK. nVerses Capital LLC bought a new position in Heritage Commerce during the third quarter valued at $73,000. FMR LLC boosted its stake in shares of Heritage Commerce by 103.7% during the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 3,987 shares during the period. CWM LLC grew its holdings in Heritage Commerce by 148.0% during the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 5,929 shares during the last quarter. One Wealth Advisors LLC purchased a new stake in Heritage Commerce in the 3rd quarter worth about $99,000. Finally, NorthCrest Asset Manangement LLC bought a new stake in Heritage Commerce in the third quarter worth about $100,000. Hedge funds and other institutional investors own 75.55% of the company’s stock.

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.