Heritage Commerce Corp (NASDAQ:HTBK) Receives $12.25 Average Target Price from Analysts

Shares of Heritage Commerce Corp (NASDAQ:HTBK) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $12.25.

HTBK has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Heritage Commerce from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Raymond James Financial cut shares of Heritage Commerce from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 7th. Zacks Research upgraded shares of Heritage Commerce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 11th. Janney Montgomery Scott lowered Heritage Commerce from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $12.00 to $14.00 in a report on Monday, December 22nd. Finally, Wall Street Zen cut Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th.

Heritage Commerce Trading Up 1.2%

NASDAQ HTBK opened at $12.28 on Friday. Heritage Commerce has a 12 month low of $8.09 and a 12 month high of $13.82. The stock has a 50-day simple moving average of $12.83 and a 200 day simple moving average of $11.47. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $756.33 million, a PE ratio of 15.74 and a beta of 0.79.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. The firm had revenue of $104.04 million for the quarter, compared to analysts’ expectations of $50.78 million. Heritage Commerce had a return on equity of 8.07% and a net margin of 17.77%. Research analysts forecast that Heritage Commerce will post 0.8 EPS for the current year.

Heritage Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be given a $0.13 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $0.52 annualized dividend and a dividend yield of 4.2%. Heritage Commerce’s payout ratio is currently 66.67%.

Institutional Investors Weigh In On Heritage Commerce

Large investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co increased its holdings in Heritage Commerce by 8.1% during the 4th 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 in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Heritage Commerce by 0.7% during 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 purchasing an additional 1,423 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Heritage Commerce by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,402 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 1,482 shares during the last quarter. Diversified Trust Co lifted its stake 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 purchasing an additional 1,717 shares during the last quarter. Finally, Mariner LLC boosted its stake in shares of Heritage Commerce by 2.6% during 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 during the period. Institutional investors own 75.55% of the company’s stock.

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.