Heritage Commerce Corp (NASDAQ:HTBK) Receives $10.50 Consensus Price Target from Analysts

Heritage Commerce Corp (NASDAQ:HTBK) has been given a consensus rating of “Moderate Buy” by the four brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $10.50.

Several equities research analysts have recently commented on HTBK shares. Keefe, Bruyette & Woods reduced their target price on shares of Heritage Commerce from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. Piper Sandler reduced their price target on shares of Heritage Commerce from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Finally, StockNews.com lowered shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HTBK. Lindbrook Capital LLC increased its stake in shares of Heritage Commerce by 47.7% in the 4th quarter. Lindbrook Capital LLC now owns 4,780 shares of the financial services provider’s stock valued at $47,000 after buying an additional 1,543 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Heritage Commerce by 185.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 3,155 shares during the period. GAMMA Investing LLC bought a new position in shares of Heritage Commerce in the 4th quarter valued at about $49,000. Public Employees Retirement System of Ohio grew its position in shares of Heritage Commerce by 1,070.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 12,299 shares of the financial services provider’s stock worth $122,000 after buying an additional 11,248 shares during the period. Finally, Hilltop Holdings Inc. bought a new stake in shares of Heritage Commerce during the fourth quarter worth approximately $124,000. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Price Performance

NASDAQ:HTBK opened at $8.30 on Friday. The company has a market capitalization of $508.38 million, a price-to-earnings ratio of 9.02 and a beta of 0.91. The company has a 50-day moving average of $8.23 and a 200-day moving average of $8.69. Heritage Commerce has a 52 week low of $6.77 and a 52 week high of $10.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Friday, April 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The company had revenue of $59.60 million during the quarter, compared to analyst estimates of $43.83 million. Heritage Commerce had a return on equity of 8.40% and a net margin of 22.84%. As a group, equities research analysts anticipate that Heritage Commerce will post 0.74 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.27%. Heritage Commerce’s payout ratio is 56.52%.

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.