Stephens Reaffirms “Equal Weight” Rating for Heritage Commerce (NASDAQ:HTBK)

Heritage Commerce (NASDAQ:HTBK)‘s stock had its “equal weight” rating reissued by stock analysts at Stephens in a research note issued on Monday,Benzinga reports.

Other research analysts have also recently issued reports about the company. Wall Street Zen cut Heritage Commerce from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Zacks Research upgraded shares of Heritage Commerce from a “strong sell” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Heritage Commerce in a research note on Monday, December 29th. Piper Sandler upped their target price on shares of Heritage Commerce from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, DA Davidson reissued a “neutral” rating and issued a $14.50 price target (up previously from $12.50) on shares of Heritage Commerce in a report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.25.

Heritage Commerce Stock Performance

NASDAQ:HTBK opened at $12.06 on Monday. Heritage Commerce has a 1 year low of $8.09 and a 1 year high of $12.89. The firm has a 50 day moving average of $11.30 and a 200-day moving average of $10.44. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $739.04 million, a P/E ratio of 17.23 and a beta of 0.80.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.24 earnings per share for the quarter. Heritage Commerce had a return on equity of 7.18% and a net margin of 16.31%.The firm had revenue of $50.01 million during the quarter. As a group, sell-side analysts anticipate that Heritage Commerce will post 0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Heritage Commerce

Several large investors have recently bought and sold shares of HTBK. Strs Ohio bought a new position in Heritage Commerce during the 1st quarter worth approximately $547,000. HoldCo Asset Management LP bought a new stake in Heritage Commerce in the second quarter valued at approximately $16,121,000. Creative Planning raised its holdings in Heritage Commerce by 38.5% in the second quarter. Creative Planning now owns 173,005 shares of the financial services provider’s stock worth $1,718,000 after purchasing an additional 48,130 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Heritage Commerce in the first quarter worth $504,000. Finally, Voya Investment Management LLC boosted its position in shares of Heritage Commerce by 231.1% during the third quarter. Voya Investment Management LLC now owns 64,976 shares of the financial services provider’s stock worth $645,000 after purchasing an additional 45,350 shares in the last quarter. 75.55% of the stock is currently owned by institutional investors and hedge funds.

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.