Heritage Commerce (NASDAQ:HTBK) Rating Increased to Hold at StockNews.com

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

Heritage Commerce Stock Performance

NASDAQ:HTBK opened at $10.47 on Wednesday. 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 has a 50-day simple moving average of $10.08 and a two-hundred day simple moving average of $9.50. The firm has a market capitalization of $641.81 million, a PE ratio of 14.75 and a beta of 0.94. Heritage Commerce has a 52-week low of $7.66 and a 52-week high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last announced 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 during the quarter, compared to the consensus estimate of $43.14 million. Analysts forecast that Heritage Commerce will post 0.66 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in shares of Heritage Commerce by 830.2% in the second quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider’s stock valued at $8,912,000 after acquiring an additional 914,249 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Heritage Commerce by 3.9% during the first quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider’s stock valued at $28,392,000 after buying an additional 123,973 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Heritage Commerce by 27.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider’s stock worth $161,000 after buying an additional 3,529 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Heritage Commerce by 106.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 29,300 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 15,136 shares during the last quarter. Finally, CWM LLC grew its stake in Heritage Commerce by 148.0% during the second quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 5,929 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.