Heritage Commerce (HTBK) Downgraded by ValuEngine

ValuEngine downgraded shares of Heritage Commerce (NASDAQ:HTBK) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

HTBK has been the topic of a number of other research reports. Brean Capital reaffirmed a buy rating on shares of Heritage Commerce in a report on Monday, October 30th. Zacks Investment Research raised Heritage Commerce from a hold rating to a buy rating and set a $16.00 price objective on the stock in a report on Wednesday, September 27th. Finally, BidaskClub lowered Heritage Commerce from a sell rating to a strong sell rating in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $16.00.

Shares of Heritage Commerce (NASDAQ:HTBK) opened at $15.65 on Friday. The stock has a market capitalization of $597.81, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 1.97 and a beta of 0.50. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.14. Heritage Commerce has a fifty-two week low of $12.76 and a fifty-two week high of $16.63.

Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. The firm had revenue of $28.78 million for the quarter, compared to analyst estimates of $28.70 million. Heritage Commerce had a return on equity of 11.15% and a net margin of 26.40%. equities research analysts forecast that Heritage Commerce will post 0.8 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Monday, November 6th. Heritage Commerce’s payout ratio is presently 51.95%.

Several large investors have recently made changes to their positions in the company. GSA Capital Partners LLP grew its holdings in shares of Heritage Commerce by 227.1% during the 3rd quarter. GSA Capital Partners LLP now owns 89,575 shares of the financial services provider’s stock worth $1,275,000 after purchasing an additional 62,187 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Heritage Commerce during the 3rd quarter worth approximately $275,000. OxFORD Asset Management LLP grew its holdings in shares of Heritage Commerce by 26.8% during the 3rd quarter. OxFORD Asset Management LLP now owns 61,331 shares of the financial services provider’s stock worth $875,000 after purchasing an additional 12,949 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Heritage Commerce by 5.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,652,384 shares of the financial services provider’s stock worth $23,513,000 after purchasing an additional 82,543 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Heritage Commerce by 147.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 129,836 shares of the financial services provider’s stock worth $1,848,000 after purchasing an additional 77,336 shares in the last quarter. 69.98% of the stock is currently owned by institutional investors.

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About Heritage Commerce

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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