Heritage Commerce’s (HTBK) Equal Weight Rating Reaffirmed at Stephens

Stephens reaffirmed their equal weight rating on shares of Heritage Commerce (NASDAQ:HTBK) in a research note released on Monday morning,Benzinga reports. The firm currently has a $11.00 target price on the financial services provider’s stock.

HTBK has been the subject of several other reports. Keefe, Bruyette & Woods reduced their price objective on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a research note on Friday. StockNews.com raised Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th.

Heritage Commerce Stock Performance

NASDAQ HTBK opened at $9.70 on Monday. 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 stock’s 50 day simple moving average is $9.82 and its 200-day simple moving average is $9.90. The company has a market cap of $594.64 million, a PE ratio of 13.66 and a beta of 0.96. Heritage Commerce has a 1-year low of $7.66 and a 1-year high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. As a group, equities research analysts anticipate that Heritage Commerce will post 0.66 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 5.36%. The ex-dividend date is Thursday, February 6th. Heritage Commerce’s payout ratio is currently 78.79%.

Institutional Trading of Heritage Commerce

Several large investors have recently added to or reduced their stakes in HTBK. Franklin Resources Inc. grew its holdings in shares of Heritage Commerce by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 46,089 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 1,302 shares during the period. SG Americas Securities LLC grew its holdings in shares of Heritage Commerce by 5.9% during the 4th quarter. SG Americas Securities LLC now owns 45,763 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 2,558 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Heritage Commerce by 27.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 3,529 shares during the period. FMR LLC grew its holdings in shares of Heritage Commerce by 103.7% during the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 3,987 shares during the period. Finally, Rosenthal Henry Capital Advisors Inc. grew its holdings in shares of Heritage Commerce by 2.1% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 203,837 shares of the financial services provider’s stock worth $2,014,000 after purchasing an additional 4,250 shares during the period. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

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.