Heritage Commerce Corp (NASDAQ:HTBK) Given Average Recommendation of “Hold” by Analysts

Shares of Heritage Commerce Corp (NASDAQ:HTBK) have received a consensus rating of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $13.1250.

HTBK has been the topic of several research reports. Zacks Research lowered Heritage Commerce from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. Weiss Ratings upgraded shares of Heritage Commerce from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th.

Heritage Commerce Stock Performance

Shares of HTBK stock opened at $13.45 on Monday. The stock’s 50-day moving average is $13.43 and its two-hundred day moving average is $12.86. The firm has a market cap of $828.43 million, a price-to-earnings ratio of 17.24 and a beta of 0.69. Heritage Commerce has a 1 year low of $8.73 and a 1 year high of $13.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.74.

Institutional Investors Weigh In On Heritage Commerce

Hedge funds have recently made changes to their positions in the business. Clearstead Advisors LLC boosted its stake in shares of Heritage Commerce by 129.5% during the fourth quarter. Clearstead Advisors LLC now owns 3,599 shares of the financial services provider’s stock worth $43,000 after buying an additional 2,031 shares during the period. EverSource Wealth Advisors LLC lifted its position 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 purchasing an additional 5,370 shares during the period. Larson Financial Group LLC lifted its position in Heritage Commerce by 495.3% in 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 period. PNC Financial Services Group Inc. lifted its position in Heritage Commerce by 42.1% in 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 period. Finally, Russell Investments Group Ltd. lifted its position in Heritage Commerce by 368.9% in the third quarter. Russell Investments Group Ltd. now owns 6,433 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 5,061 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.

About Heritage Commerce

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.