DA Davidson upgraded shares of Heritage Commerce (NASDAQ:HTBK) from a neutral rating to a buy rating in a report issued on Monday morning.

A number of other research firms also recently issued reports on HTBK. Brean Capital reiterated a buy rating and set a $17.50 price target on shares of Heritage Commerce in a research report on Monday, January 29th. BidaskClub upgraded shares of Heritage Commerce from a sell rating to a hold rating in a research report on Thursday, January 11th. Finally, Zacks Investment Research upgraded shares of Heritage Commerce from a hold rating to a buy rating and set a $17.00 price target for the company in a research report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $17.25.

Shares of Heritage Commerce (NASDAQ HTBK) opened at $15.88 on Monday. Heritage Commerce has a 12-month low of $12.76 and a 12-month high of $16.80. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.77. The stock has a market cap of $606.60, a P/E ratio of 25.61, a PEG ratio of 1.54 and a beta of 0.60.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.77%. This is an increase from Heritage Commerce’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, February 7th. Heritage Commerce’s dividend payout ratio (DPR) is presently 70.97%.

In related news, Director Jack W. Conner sold 24,500 shares of Heritage Commerce stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $15.47, for a total transaction of $379,015.00. Following the completion of the transaction, the director now directly owns 83,324 shares in the company, valued at approximately $1,289,022.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.69% of the company’s stock.

Several institutional investors have recently modified their holdings of HTBK. Millennium Management LLC raised its position in shares of Heritage Commerce by 237.4% during the 4th quarter. Millennium Management LLC now owns 613,489 shares of the financial services provider’s stock worth $9,399,000 after purchasing an additional 431,652 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Heritage Commerce by 11.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,550,961 shares of the financial services provider’s stock worth $21,373,000 after purchasing an additional 155,957 shares during the last quarter. State Street Corp raised its position in shares of Heritage Commerce by 36.1% during the 2nd quarter. State Street Corp now owns 558,166 shares of the financial services provider’s stock worth $7,693,000 after purchasing an additional 148,073 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Heritage Commerce by 7.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,569,841 shares of the financial services provider’s stock worth $21,633,000 after purchasing an additional 109,558 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Heritage Commerce by 27.2% during the 2nd quarter. Northern Trust Corp now owns 383,857 shares of the financial services provider’s stock worth $5,289,000 after purchasing an additional 82,186 shares during the last quarter. Hedge funds and other institutional investors own 70.20% of the company’s stock.

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About Heritage Commerce

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.

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