Heritage Commerce (NASDAQ:HTBK) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Heritage Commerce Corp (NASDAQ:HTBK) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.02 and traded as high as $13.41. Heritage Commerce shares last traded at $13.30, with a volume of 380,941 shares.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. DA Davidson restated a “neutral” rating and issued a $14.50 price target on shares of Heritage Commerce in a report on Wednesday, February 4th. Stephens reiterated an “equal weight” rating on shares of Heritage Commerce in a report on Monday, January 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Heritage Commerce in a research report on Monday, December 29th. Piper Sandler upped their price target on Heritage Commerce from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, Wall Street Zen cut shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.25.

Heritage Commerce Price Performance

The stock has a market cap of $818.75 million, a price-to-earnings ratio of 17.05 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The company has a 50-day simple moving average of $12.61 and a two-hundred day simple moving average of $11.02.

Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Thursday, January 22nd. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05. Heritage Commerce had a net margin of 17.77% and a return on equity of 8.10%. The business had revenue of $53.62 million during the quarter, compared to analysts’ expectations of $50.78 million. As a group, equities research analysts forecast that Heritage Commerce Corp will post 0.8 EPS for the current year.

Heritage Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, February 5th. Heritage Commerce’s dividend payout ratio is presently 66.67%.

Hedge Funds Weigh In On Heritage Commerce

A number of institutional investors have recently bought and sold shares of the business. Clearstead Advisors LLC lifted its position in shares of Heritage Commerce by 129.5% in the fourth quarter. Clearstead Advisors LLC now owns 3,599 shares of the financial services provider’s stock valued at $43,000 after buying an additional 2,031 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Heritage Commerce by 56.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 5,026 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 1,815 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Heritage Commerce by 16,272.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,403 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 5,370 shares during the period. Larson Financial Group LLC lifted its holdings in Heritage Commerce by 495.3% during the 3rd quarter. Larson Financial Group LLC now owns 5,620 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 4,676 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Heritage Commerce by 368.9% during the third quarter. Russell Investments Group Ltd. now owns 6,433 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 5,061 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.

Heritage Commerce Company Profile

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.