Heritage Commerce Corp (NASDAQ:HTBK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Heritage Commerce Corp (NASDAQ:HTBK) have earned an average recommendation of “Moderate Buy” from the four analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $10.50.

HTBK has been the subject of several recent research reports. Piper Sandler lowered their target price on shares of Heritage Commerce from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, April 26th. StockNews.com raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Monday, May 27th.

Heritage Commerce Stock Performance

Shares of HTBK opened at $7.94 on Monday. The company has a 50-day simple moving average of $8.12 and a two-hundred day simple moving average of $8.60. Heritage Commerce has a one year low of $7.66 and a one year high of $10.22. The firm has a market capitalization of $486.40 million, a PE ratio of 8.63 and a beta of 0.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75.

Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Friday, April 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.02). Heritage Commerce had a net margin of 22.84% and a return on equity of 8.36%. The business had revenue of $59.60 million for the quarter, compared to analysts’ expectations of $43.83 million. On average, analysts anticipate that Heritage Commerce will post 0.73 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date of this dividend was Wednesday, May 8th. Heritage Commerce’s dividend payout ratio (DPR) is presently 56.52%.

Institutional Investors Weigh In On Heritage Commerce

Large investors have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC boosted its stake in shares of Heritage Commerce by 47.7% during the 4th quarter. Lindbrook Capital LLC now owns 4,780 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 1,543 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 worth $42,000 after acquiring an additional 3,155 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Heritage Commerce during the 4th quarter worth $49,000. ProShare Advisors LLC purchased a new position in shares of Heritage Commerce during the 1st quarter worth $91,000. Finally, Public Employees Retirement System of Ohio boosted its stake 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 acquiring an additional 11,248 shares during the last quarter. 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.