Heritage Commerce (NASDAQ:HTBK) Stock Rating Upgraded by Zacks Research

Heritage Commerce (NASDAQ:HTBK) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other brokerages also recently commented on HTBK. Janney Montgomery Scott downgraded shares of Heritage Commerce from a “buy” rating to a “neutral” rating and increased their price target for the company from $12.00 to $14.00 in a report on Monday, December 22nd. DA Davidson reissued a “neutral” rating and set a $14.50 price objective on shares of Heritage Commerce in a research note on Wednesday, February 4th. Stephens restated an “equal weight” rating on shares of Heritage Commerce in a research report on Monday, January 5th. Weiss Ratings raised Heritage Commerce from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Finally, Raymond James Financial cut Heritage Commerce from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.25.

Heritage Commerce Trading Up 0.2%

Shares of HTBK opened at $12.17 on Wednesday. The stock has a market capitalization of $749.55 million, a PE ratio of 15.60 and a beta of 0.79. The company’s fifty day moving average is $12.83 and its 200 day moving average is $11.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.74. Heritage Commerce has a fifty-two week low of $8.09 and a fifty-two week high of $13.82.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.23 by $0.05. Heritage Commerce had a net margin of 17.77% and a return on equity of 8.07%. The business had revenue of $104.04 million during the quarter, compared to analyst estimates of $50.78 million. Sell-side analysts expect that Heritage Commerce will post 0.8 earnings per share for the current fiscal year.

Institutional Trading of Heritage Commerce

Several institutional investors have recently added to or reduced their stakes in HTBK. CANADA LIFE ASSURANCE Co grew its stake in shares of Heritage Commerce by 8.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 12,181 shares of the financial services provider’s stock valued at $146,000 after buying an additional 913 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in Heritage Commerce by 0.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 218,384 shares of the financial services provider’s stock valued at $2,169,000 after acquiring an additional 1,423 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Heritage Commerce by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,402 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 1,482 shares during the period. Diversified Trust Co increased its stake in Heritage Commerce by 9.2% in the third quarter. Diversified Trust Co now owns 20,469 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 1,717 shares during the period. Finally, Mariner LLC lifted its position in shares of Heritage Commerce by 2.6% during the third quarter. Mariner LLC now owns 68,844 shares of the financial services provider’s stock worth $684,000 after purchasing an additional 1,730 shares during the last quarter. Institutional investors own 75.55% of the company’s stock.

About Heritage Commerce

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.