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

Stephens reiterated their equal weight rating on shares of Heritage Commerce (NASDAQ:HTBK) in a report issued on Monday,Benzinga reports. Stephens currently has a $11.00 price target on the financial services provider’s stock.

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

Heritage Commerce Stock Down 0.1 %

Shares of NASDAQ HTBK opened at $9.62 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. The stock has a market cap of $589.71 million, a PE ratio of 13.55 and a beta of 0.96. Heritage Commerce has a 52-week low of $7.66 and a 52-week high of $11.27. The business has a 50-day moving average price of $9.78 and a 200 day moving average price of $9.90.

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

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a yield of 5.41%. Heritage Commerce’s dividend payout ratio (DPR) is 73.24%.

Institutional Investors Weigh In On Heritage Commerce

Several hedge funds have recently modified their holdings of HTBK. Franklin Resources Inc. boosted its position in Heritage Commerce by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 46,089 shares of the financial services provider’s stock valued at $449,000 after buying an additional 1,302 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Heritage Commerce by 5.9% in the 4th quarter. SG Americas Securities LLC now owns 45,763 shares of the financial services provider’s stock worth $429,000 after buying an additional 2,558 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Heritage Commerce by 27.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider’s stock valued at $161,000 after acquiring an additional 3,529 shares during the period. FMR LLC boosted its position in Heritage Commerce by 103.7% during the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 3,987 shares during the period. Finally, Rosenthal Henry Capital Advisors Inc. boosted its holdings in shares of Heritage Commerce by 2.1% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 203,837 shares of the financial services provider’s stock valued at $2,014,000 after acquiring an additional 4,250 shares during the period. 75.55% of the stock is currently owned by hedge funds and other 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.