Heritage Commerce (NASDAQ:HTBK) Stock Price Expected to Rise, DA Davidson Analyst Says

Heritage Commerce (NASDAQ:HTBK) had its price objective lifted by equities researchers at DA Davidson from $12.00 to $12.50 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s target price would indicate a potential upside of 19.73% from the stock’s previous close. DA Davidson also issued estimates for Heritage Commerce’s Q4 2025 earnings at $0.25 EPS and FY2025 earnings at $0.89 EPS.

HTBK has been the topic of a number of other reports. Stephens lifted their target price on Heritage Commerce from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday. Piper Sandler lifted their target price on Heritage Commerce from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday. Zacks Research lowered Heritage Commerce from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Wall Street Zen raised Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Heritage Commerce in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Heritage Commerce Trading Down 1.9%

NASDAQ:HTBK opened at $10.44 on Tuesday. The business’s 50-day moving average is $10.07 and its two-hundred day moving average is $9.72. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77. Heritage Commerce has a 12 month low of $8.09 and a 12 month high of $11.27. The firm has a market capitalization of $641.54 million, a PE ratio of 14.91 and a beta of 0.85.

Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Thursday, October 23rd. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Heritage Commerce had a return on equity of 7.20% and a net margin of 16.31%.The business had revenue of $50.01 million for the quarter, compared to analyst estimates of $48.90 million. Research analysts predict that Heritage Commerce will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Thomas A. Sa purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average cost of $9.25 per share, for a total transaction of $185,000.00. Following the completion of the purchase, the chief operating officer owned 20,000 shares of the company’s stock, valued at approximately $185,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Heritage Commerce

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 worth $337,000 after purchasing an additional 1,482 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in Heritage Commerce by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 91,792 shares of the financial services provider’s stock valued at $911,000 after acquiring an additional 1,590 shares during the period. PNC Financial Services Group Inc. boosted its stake in Heritage Commerce by 143.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,851 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,680 shares during the period. Diversified Trust Co boosted its stake in Heritage Commerce by 9.2% in the third quarter. Diversified Trust Co now owns 20,469 shares of the financial services provider’s stock valued at $203,000 after acquiring an additional 1,717 shares during the period. Finally, US Bancorp DE boosted its stake in Heritage Commerce by 66.7% in the first quarter. US Bancorp DE now owns 5,789 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 2,316 shares during the period. 75.55% 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. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.