Heritage Commerce (NASDAQ:HTBK)‘s stock had its “overweight” rating restated by research analysts at Piper Sandler in a research note issued to investors on Monday, AnalystRatings.com reports. They currently have a $9.00 price target on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 23.29% from the company’s previous close.

A number of other equities research analysts have also weighed in on HTBK. ValuEngine lowered shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Janney Montgomery Scott boosted their target price on shares of Heritage Commerce from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Raymond James upped their price objective on shares of Heritage Commerce from $8.00 to $9.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. TheStreet lowered shares of Heritage Commerce from a “b-” rating to a “c+” rating in a research note on Thursday, March 5th. Finally, Zacks Investment Research lowered shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Friday, June 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $11.40.

HTBK opened at $7.30 on Monday. Heritage Commerce has a fifty-two week low of $6.04 and a fifty-two week high of $13.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $402.63 million, a price-to-earnings ratio of 11.23 and a beta of 1.13. The company’s 50 day moving average price is $7.80 and its two-hundred day moving average price is $9.65.

Heritage Commerce (NASDAQ:HTBK) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.15). Heritage Commerce had a return on equity of 8.94% and a net margin of 18.73%. The business had revenue of $41.77 million for the quarter, compared to the consensus estimate of $39.72 million. As a group, equities research analysts predict that Heritage Commerce will post 0.6 EPS for the current year.

In related news, CEO Keith Wilton sold 3,713 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $8.36, for a total transaction of $31,040.68. Following the transaction, the chief executive officer now directly owns 141,807 shares of the company’s stock, valued at $1,185,506.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. bought a new position in Heritage Commerce during the fourth quarter worth $475,000. BNP Paribas Arbitrage SA boosted its stake in Heritage Commerce by 166.5% during the first quarter. BNP Paribas Arbitrage SA now owns 17,067 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 10,663 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Heritage Commerce by 1,281.2% during the fourth quarter. Alliancebernstein L.P. now owns 610,587 shares of the financial services provider’s stock worth $7,834,000 after acquiring an additional 566,380 shares in the last quarter. Aperio Group LLC boosted its stake in Heritage Commerce by 26.6% during the first quarter. Aperio Group LLC now owns 46,744 shares of the financial services provider’s stock worth $359,000 after acquiring an additional 9,811 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Heritage Commerce by 9.9% during the first quarter. Two Sigma Advisers LP now owns 364,160 shares of the financial services provider’s stock worth $2,793,000 after acquiring an additional 32,800 shares in the last quarter. 69.71% of the stock is currently owned by institutional investors and hedge funds.

Heritage Commerce Company Profile

Heritage Commerce Corp operates as the bank holding company for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.

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Analyst Recommendations for Heritage Commerce (NASDAQ:HTBK)

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