Heritage Commerce Corp (NASDAQ:HTBK) Given Average Rating of “Hold” by Brokerages

Shares of Heritage Commerce Corp (NASDAQ:HTBK) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $13.1250.

HTBK has been the subject of a number of research reports. DA Davidson reiterated a “neutral” rating and issued a $14.50 price target on shares of Heritage Commerce in a research note on Wednesday, February 4th. Zacks Research downgraded Heritage Commerce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 9th. Finally, Weiss Ratings upgraded Heritage Commerce from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th.

Heritage Commerce Price Performance

NASDAQ:HTBK opened at $13.45 on Thursday. The company has a market capitalization of $828.43 million, a price-to-earnings ratio of 17.24 and a beta of 0.69. Heritage Commerce has a one year low of $8.73 and a one year high of $13.83. The stock has a 50-day simple moving average of $13.10 and a 200 day simple moving average of $12.52. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.74.

Heritage Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Wednesday, March 25th. Heritage Commerce’s dividend payout ratio (DPR) is 66.67%.

Institutional Investors Weigh In On Heritage Commerce

A number of institutional investors have recently modified their holdings of HTBK. Clearstead Advisors LLC lifted its holdings in Heritage Commerce by 129.5% in the fourth quarter. Clearstead Advisors LLC now owns 3,599 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 2,031 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Heritage Commerce by 16,272.7% in the second quarter. EverSource Wealth Advisors LLC now owns 5,403 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 5,370 shares during the period. Larson Financial Group LLC grew its holdings in shares of Heritage Commerce by 495.3% during the third quarter. Larson Financial Group LLC now owns 5,620 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 4,676 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Heritage Commerce by 42.1% during the first quarter. PNC Financial Services Group Inc. now owns 4,739 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 1,405 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Heritage Commerce by 368.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,433 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 5,061 shares during the period. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Company Profile

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.