Shares of Heritage Commerce Corp. (NASDAQ:HTBK) have been given an average broker rating score of 1.67 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company.
Analysts have set a 1 year consensus price target of $12.00 for the company and are predicting that the company will post $0.19 EPS for the current quarter, according to Zacks. Zacks has also assigned Heritage Commerce Corp. an industry rank of 183 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research downgraded Heritage Commerce Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd.
Heritage Commerce Corp. (NASDAQ:HTBK) opened at 10.81 on Monday. The stock has a 50 day moving average price of $11.32 and a 200 day moving average price of $10.71. The stock has a market capitalization of $349.11 million, a PE ratio of 19.07 and a beta of 0.91. Heritage Commerce Corp. has a 52 week low of $8.84 and a 52 week high of $12.38.
Heritage Commerce Corp. (NASDAQ:HTBK) last posted its quarterly earnings data on Friday, July 29th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter. Heritage Commerce Corp. had a return on equity of 9.21% and a net margin of 21.08%. Equities analysts forecast that Heritage Commerce Corp. will post $0.74 EPS for the current year.
In other Heritage Commerce Corp. news, Director W Kirk Wycoff sold 80,000 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $11.86, for a total transaction of $948,800.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director J Philip Dinapoli purchased 5,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were bought at an average price of $10.43 per share, for a total transaction of $52,150.00. Following the acquisition, the director now owns 496,125 shares in the company, valued at $5,174,583.75. The disclosure for this purchase can be found here. Company insiders own 19.72% of the company’s stock.
A number of large investors have recently modified their holdings of HTBK. CAPROCK Group Inc. bought a new stake in shares of Heritage Commerce Corp. during the second quarter valued at $151,000. Stifel Financial Corp boosted its position in Heritage Commerce Corp. by 64.1% in the second quarter. Stifel Financial Corp now owns 29,222 shares of the financial services provider’s stock valued at $308,000 after buying an additional 11,415 shares in the last quarter. Panagora Asset Management Inc. boosted its position in Heritage Commerce Corp. by 5.3% in the second quarter. Panagora Asset Management Inc. now owns 205,936 shares of the financial services provider’s stock valued at $2,169,000 after buying an additional 10,387 shares in the last quarter. Bridgeway Capital Management Inc. boosted its position in Heritage Commerce Corp. by 0.3% in the second quarter. Bridgeway Capital Management Inc. now owns 109,950 shares of the financial services provider’s stock valued at $1,158,000 after buying an additional 350 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in Heritage Commerce Corp. by 1.3% in the second quarter. Parametric Portfolio Associates LLC now owns 11,873 shares of the financial services provider’s stock valued at $125,000 after buying an additional 156 shares in the last quarter. Institutional investors own 52.13% of the company’s stock.
About Heritage Commerce Corp.
Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
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