Analysts Set Heritage Commerce Corp (NASDAQ:HTBK) Price Target at $12.25

Shares of Heritage Commerce Corp (NASDAQ:HTBK) have been assigned an average rating of “Hold” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $12.25.

Several analysts recently weighed in on HTBK shares. Zacks Research lowered Heritage Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Wall Street Zen cut shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. DA Davidson reissued a “neutral” rating and issued a $14.50 target price on shares of Heritage Commerce in a research note on Wednesday, February 4th. Raymond James Financial cut shares of Heritage Commerce from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. Finally, Janney Montgomery Scott downgraded shares of Heritage Commerce from a “buy” rating to a “neutral” rating and upped their price target for the company from $12.00 to $14.00 in a report on Monday, December 22nd.

Hedge Funds Weigh In On Heritage Commerce

Large investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co increased its stake in Heritage Commerce by 8.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 12,181 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 913 shares during the period. State of New Jersey Common Pension Fund D increased its stake in Heritage Commerce by 0.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 218,384 shares of the financial services provider’s stock worth $2,169,000 after buying an additional 1,423 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Heritage Commerce by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,402 shares of the financial services provider’s stock valued at $337,000 after buying an additional 1,482 shares in the last quarter. Diversified Trust Co boosted its position in Heritage Commerce by 9.2% in the 3rd quarter. Diversified Trust Co now owns 20,469 shares of the financial services provider’s stock valued at $203,000 after buying an additional 1,717 shares during the period. Finally, Mariner LLC grew its stake in Heritage Commerce by 2.6% in the 3rd quarter. Mariner LLC now owns 68,844 shares of the financial services provider’s stock worth $684,000 after acquiring an additional 1,730 shares in the last quarter. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Heritage Commerce Stock Down 0.6%

Shares of NASDAQ:HTBK opened at $13.33 on Tuesday. The company has a market cap of $820.59 million, a price-to-earnings ratio of 17.09 and a beta of 0.80. Heritage Commerce has a 12 month low of $8.09 and a 12 month high of $13.82. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $12.74 and a 200 day moving average price of $11.13.

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

Heritage Commerce Dividend Announcement

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

About Heritage Commerce

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.