Heritage Commerce (NASDAQ:HTBK) Rating Lowered to Sell at StockNews.com

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

A number of other equities analysts also recently issued reports on the company. Raymond James upped their price target on Heritage Commerce from $9.50 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Piper Sandler dropped their price objective on Heritage Commerce from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Keefe, Bruyette & Woods cut their target price on shares of Heritage Commerce from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.50.

Heritage Commerce Trading Up 0.2 %

HTBK opened at $8.02 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average is $8.24 and its two-hundred day moving average is $8.70. The company has a market capitalization of $491.23 million, a P/E ratio of 8.72 and a beta of 0.90. Heritage Commerce has a 52 week low of $6.69 and a 52 week high of $10.22.

Insider Transactions at Heritage Commerce

In related news, Director Jack W. Conner sold 6,944 shares of Heritage Commerce stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $8.92, for a total value of $61,940.48. Following the completion of the transaction, the director now owns 102,501 shares in the company, valued at $914,308.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.99% of the company’s stock.

Institutional Trading of Heritage Commerce

Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Heritage Commerce by 185.5% in 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 buying an additional 3,155 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Heritage Commerce by 47.7% during the fourth quarter. Lindbrook Capital LLC now owns 4,780 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,543 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Heritage Commerce during the 4th quarter worth approximately $49,000. Norden Group LLC acquired a new stake in Heritage Commerce in the first quarter valued at $111,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in Heritage Commerce by 1,070.2% during the fourth 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 in the last quarter. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

About Heritage Commerce

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.