Heritage Commerce (NASDAQ:HTBK) Upgraded by Stephens to “Overweight” Rating

Heritage Commerce (NASDAQ:HTBK) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Friday,Finviz reports.

A number of other equities analysts have also weighed in on the company. Keefe, Bruyette & Woods dropped their price objective on 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 raised Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th.

Heritage Commerce Stock Performance

HTBK opened at $10.22 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. Heritage Commerce has a 12-month low of $7.66 and a 12-month high of $11.27. The company has a market cap of $626.49 million, a price-to-earnings ratio of 15.48 and a beta of 0.96. The company’s 50 day moving average is $9.67 and its 200 day moving average is $9.89.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly 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 5.96% and a net margin of 16.12%. On average, equities research analysts predict that Heritage Commerce will post 0.78 EPS for the current year.

Institutional Investors Weigh In On Heritage Commerce

Several institutional investors have recently made changes to their positions in HTBK. State Street Corp grew its holdings in Heritage Commerce by 3.2% during the 3rd quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock valued at $19,421,000 after purchasing an additional 61,630 shares during the last quarter. Barclays PLC grew its stake in shares of Heritage Commerce by 7.2% during the third quarter. Barclays PLC now owns 216,439 shares of the financial services provider’s stock valued at $2,139,000 after buying an additional 14,466 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Heritage Commerce by 58.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider’s stock worth $4,350,000 after buying an additional 170,989 shares during the period. Jane Street Group LLC lifted its stake in shares of Heritage Commerce by 55.6% during the 3rd quarter. Jane Street Group LLC now owns 103,596 shares of the financial services provider’s stock worth $1,024,000 after acquiring an additional 36,997 shares during the last quarter. Finally, FMR LLC boosted its holdings 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 acquiring an additional 3,987 shares during the period. 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.