Heritage Commerce (NASDAQ:HTBK) Lowered to “Sell” Rating by StockNews.com

Heritage Commerce (NASDAQ:HTBK) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Heritage Commerce Trading Up 0.1 %

Shares of Heritage Commerce stock opened at $10.92 on Tuesday. The stock has a market capitalization of $669.43 million, a P/E ratio of 15.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s 50-day simple moving average is $10.03 and its 200 day simple moving average is $9.42. Heritage Commerce has a 52-week low of $7.66 and a 52-week high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. The company had revenue of $63.68 million for the quarter, compared to analyst estimates of $43.14 million. As a group, research analysts anticipate that Heritage Commerce will post 0.66 EPS for the current year.

Institutional Trading of Heritage Commerce

A number of hedge funds and other institutional investors have recently bought and sold shares of HTBK. Vanguard Group Inc. grew its position in shares of Heritage Commerce by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider’s stock valued at $28,392,000 after purchasing an additional 123,973 shares in the last quarter. Wellington Management Group LLP bought a new stake in Heritage Commerce during the third quarter valued at $20,093,000. State Street Corp grew its position in Heritage Commerce by 3.2% during the third quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock worth $19,421,000 after buying an additional 61,630 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Heritage Commerce by 830.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider’s stock worth $8,912,000 after acquiring an additional 914,249 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Heritage Commerce by 21.2% in the 2nd quarter. American Century Companies Inc. now owns 921,389 shares of the financial services provider’s stock valued at $8,016,000 after acquiring an additional 160,977 shares in 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.