Zacks Investment Research downgraded shares of Heritage Commerce (NASDAQ:HTBK) from a hold rating to a sell rating in a research report report published on Tuesday.

According to Zacks, “Heritage Commerce Corp. is the holding company of Heritage Bank of Commerce, Heritage Bank East Bay, Heritage Bank South Valley and Bank of Los Altos. The company offers a range of loans, primarily commercial, including real estate, construction, Small Business Administration), inventory and accounts receivable, and equipment loans. The company also accepts checking, savings, and time deposits; NOW and money market deposit accounts; and provides travelers’ checks, safe deposit, and other customary non-deposit banking services. “

Several other analysts have also issued reports on the company. Brean Capital reiterated a buy rating and set a $17.00 price objective on shares of Heritage Commerce in a report on Monday, October 22nd. BidaskClub upgraded Heritage Commerce from a sell rating to a hold rating in a report on Friday, October 12th. Finally, ValuEngine lowered Heritage Commerce from a hold rating to a sell rating in a report on Tuesday, November 6th. Three investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $18.50.

Shares of Heritage Commerce stock traded up $0.08 during midday trading on Tuesday, hitting $12.54. The company’s stock had a trading volume of 4,336 shares, compared to its average volume of 214,125. The stock has a market cap of $541.42 million, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.45 and a beta of 0.75. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11. Heritage Commerce has a 1-year low of $10.84 and a 1-year high of $18.10.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, October 25th. The financial services provider reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The business had revenue of $34.66 million during the quarter, compared to analysts’ expectations of $34.56 million. Heritage Commerce had a return on equity of 12.45% and a net margin of 17.74%. Analysts expect that Heritage Commerce will post 0.98 EPS for the current fiscal year.

In related news, Director Jack W. Conner bought 2,828 shares of the business’s stock in a transaction on Tuesday, December 4th. The shares were bought at an average cost of $13.67 per share, for a total transaction of $38,658.76. Following the completion of the acquisition, the director now directly owns 74,106 shares in the company, valued at $1,013,029.02. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jack W. Conner bought 10,418 shares of the business’s stock in a transaction on Monday, November 12th. The shares were bought at an average price of $14.42 per share, for a total transaction of $150,227.56. Following the completion of the acquisition, the director now owns 68,756 shares of the company’s stock, valued at $991,461.52. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 32,001 shares of company stock valued at $451,637. 5.40% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of HTBK. Meeder Asset Management Inc. raised its holdings in Heritage Commerce by 100.3% during the third quarter. Meeder Asset Management Inc. now owns 7,088 shares of the financial services provider’s stock valued at $106,000 after buying an additional 3,549 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Heritage Commerce in the third quarter worth about $161,000. MetLife Investment Advisors LLC increased its stake in shares of Heritage Commerce by 55.1% in the third quarter. MetLife Investment Advisors LLC now owns 27,683 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 9,829 shares during the period. GSA Capital Partners LLP increased its stake in shares of Heritage Commerce by 53.7% in the second quarter. GSA Capital Partners LLP now owns 36,025 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 12,580 shares during the period. Finally, Summit Global Investments increased its stake in shares of Heritage Commerce by 21.2% in the third quarter. Summit Global Investments now owns 45,100 shares of the financial services provider’s stock worth $673,000 after purchasing an additional 7,900 shares during the period. Institutional investors own 73.77% 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. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.

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