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

Stephens upgraded shares of Heritage Commerce (NASDAQ:HTBK) from an equal weight rating to an overweight rating in a research note issued to investors on Friday, Marketbeat.com reports.

Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods cut their target price on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a research report on Friday, January 24th. StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th.

Heritage Commerce Stock Up 1.0 %

HTBK opened at $10.32 on Friday. Heritage Commerce has a fifty-two week low of $7.66 and a fifty-two week high of $11.27. The company has a market capitalization of $632.62 million, a P/E ratio of 15.64 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. The firm’s fifty day moving average price is $9.67 and its two-hundred day moving average price is $9.90.

Heritage Commerce (NASDAQ:HTBK) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. On average, analysts anticipate that Heritage Commerce will post 0.8 EPS for the current year.

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a yield of 5.04%. Heritage Commerce’s dividend payout ratio (DPR) is presently 78.79%.

Hedge Funds Weigh In On Heritage Commerce

Institutional investors have recently bought and sold shares of the business. Sei Investments Co. grew its holdings in shares of Heritage Commerce by 16.7% during the second quarter. Sei Investments Co. now owns 32,415 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 4,631 shares during the last quarter. Creative Planning grew its holdings in Heritage Commerce by 34.4% during the 2nd quarter. Creative Planning now owns 75,462 shares of the financial services provider’s stock worth $657,000 after acquiring an additional 19,334 shares during the last quarter. SG Americas Securities LLC increased its position in Heritage Commerce by 43.2% in the 3rd quarter. SG Americas Securities LLC now owns 43,205 shares of the financial services provider’s stock valued at $427,000 after acquiring an additional 13,035 shares in the last quarter. CWM LLC raised its stake in shares of Heritage Commerce by 46.3% in the third quarter. CWM LLC now owns 14,536 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 4,600 shares during the last quarter. Finally, One Wealth Advisors LLC acquired a new position in shares of Heritage Commerce during the third quarter worth approximately $99,000. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Company Profile

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.