Zacks Investment Research upgraded shares of Heritage Commerce Corp. (NASDAQ:HTBK) from a sell rating to a hold rating in a report published on Monday.

According to Zacks, “Heritage Commerce Corp. is the holding company of Heritage Bank of Commerce, Heritage Bank East Bay, Heritage Bank South Valley and Bank of Los Altos. The company offers a range of loans, primarily commercial, including real estate, construction, Small Business Administration), inventory and accounts receivable, and equipment loans. The company also accepts checking, savings, and time deposits; NOW and money market deposit accounts; and provides travelers’ checks, safe deposit, and other customary non-deposit banking services. “

Heritage Commerce Corp. (NASDAQ:HTBK) opened at 10.82 on Monday. Heritage Commerce Corp. has a 52 week low of $8.84 and a 52 week high of $12.38. The company has a 50-day moving average price of $11.37 and a 200-day moving average price of $10.69. The stock has a market cap of $349.43 million, a PE ratio of 19.08 and a beta of 0.91.

Heritage Commerce Corp. (NASDAQ:HTBK) last announced its earnings results on Friday, July 29th. The financial services provider reported $0.19 EPS for the quarter. Heritage Commerce Corp. had a return on equity of 9.21% and a net margin of 21.08%. Analysts anticipate that Heritage Commerce Corp. will post $0.74 earnings per share for the current year.

In related news, Director W Kirk Wycoff sold 80,000 shares of Heritage Commerce Corp. stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $11.86, for a total transaction of $948,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John M. Eggemeyer III sold 915,000 shares of Heritage Commerce Corp. stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $11.70, for a total value of $10,705,500.00. The disclosure for this sale can be found here. 19.72% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in HTBK. Parametric Portfolio Associates LLC boosted its position in shares of Heritage Commerce Corp. by 1.3% in the second quarter. Parametric Portfolio Associates LLC now owns 11,873 shares of the financial services provider’s stock valued at $125,000 after buying an additional 156 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Heritage Commerce Corp. during the second quarter valued at about $130,000. BlackRock Advisors LLC raised its position in shares of Heritage Commerce Corp. by 3.2% in the second quarter. BlackRock Advisors LLC now owns 12,800 shares of the financial services provider’s stock valued at $135,000 after buying an additional 396 shares during the last quarter. CAPROCK Group Inc. acquired a new position in shares of Heritage Commerce Corp. during the second quarter valued at about $151,000. Finally, American International Group Inc. raised its position in shares of Heritage Commerce Corp. by 22.0% in the second quarter. American International Group Inc. now owns 15,017 shares of the financial services provider’s stock valued at $158,000 after buying an additional 2,704 shares during the last quarter. 52.13% of the stock is owned by institutional investors and hedge funds.

Heritage Commerce Corp. Company Profile

Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.

5 Day Chart for NASDAQ:HTBK

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