Analysts Set Heritage Commerce Corp (NASDAQ:HTBK) PT at $10.50

Shares of Heritage Commerce Corp (NASDAQ:HTBK) have been assigned a consensus recommendation of “Moderate Buy” from the four research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $10.50.

A number of research firms recently commented on HTBK. Piper Sandler reduced their target price on Heritage Commerce from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. StockNews.com upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Monday, May 27th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Swiss National Bank raised its stake in Heritage Commerce by 2.3% during the 3rd quarter. Swiss National Bank now owns 134,000 shares of the financial services provider’s stock valued at $1,135,000 after purchasing an additional 3,000 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Heritage Commerce by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 463,745 shares of the financial services provider’s stock worth $3,928,000 after acquiring an additional 12,343 shares during the last quarter. Federated Hermes Inc. grew its stake in Heritage Commerce by 5.5% during the third quarter. Federated Hermes Inc. now owns 81,122 shares of the financial services provider’s stock valued at $687,000 after acquiring an additional 4,220 shares in the last quarter. Alps Advisors Inc. bought a new stake in Heritage Commerce in the 3rd quarter valued at $334,000. Finally, Endeavour Capital Advisors Inc. lifted its stake in Heritage Commerce by 3.0% in the 3rd quarter. Endeavour Capital Advisors Inc. now owns 562,516 shares of the financial services provider’s stock worth $4,765,000 after purchasing an additional 16,416 shares in the last quarter. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Stock Performance

Shares of HTBK opened at $8.14 on Monday. Heritage Commerce has a 1 year low of $7.66 and a 1 year high of $10.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The stock’s fifty day moving average price is $8.13 and its two-hundred day moving average price is $8.58. The firm has a market cap of $498.66 million, a PE ratio of 8.85 and a beta of 0.92.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings results on Friday, April 26th. The financial services provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $59.60 million during the quarter, compared to analysts’ expectations of $43.83 million. Heritage Commerce had a net margin of 22.84% and a return on equity of 8.36%. On average, equities research analysts forecast that Heritage Commerce will post 0.73 EPS for the current year.

Heritage Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 6.39%. The ex-dividend date of this dividend was Wednesday, May 8th. Heritage Commerce’s dividend payout ratio is 56.52%.

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.