Heritage Commerce (NASDAQ:HTBK) Receives Equal Weight Rating from Stephens

Heritage Commerce (NASDAQ:HTBK)‘s stock had its “equal weight” rating reiterated by stock analysts at Stephens in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $11.00 target price on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 14.23% from the stock’s previous close.

Several other research firms have also recently weighed in on HTBK. Keefe, Bruyette & Woods cut their target price on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a research note on Friday, January 24th. StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th.

Heritage Commerce Price Performance

NASDAQ:HTBK opened at $9.63 on Monday. The business’s 50-day simple moving average is $9.80 and its two-hundred day simple moving average is $9.90. Heritage Commerce has a 52 week low of $7.66 and a 52 week high of $11.27. The stock has a market cap of $590.32 million, a PE ratio of 13.56 and a beta of 0.96. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. As a group, analysts forecast that Heritage Commerce will post 0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Heritage Commerce

Large investors have recently modified their holdings of the stock. nVerses Capital LLC bought a new stake in Heritage Commerce in the third quarter worth $73,000. FMR LLC raised its stake in shares of Heritage Commerce by 103.7% in the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 3,987 shares during the period. One Wealth Advisors LLC purchased a new position in shares of Heritage Commerce during the 3rd quarter worth about $99,000. NorthCrest Asset Manangement LLC purchased a new position in shares of Heritage Commerce during the 3rd quarter worth about $100,000. Finally, Point72 Asset Management L.P. bought a new position in Heritage Commerce during the 3rd quarter valued at about $107,000. Institutional investors own 75.55% of the company’s stock.

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. 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.