Heritage Commerce (NASDAQ:HTBK) Stock Rating Lowered by StockNews.com

Heritage Commerce (NASDAQ:HTBK) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

Heritage Commerce Trading Down 0.7 %

Shares of HTBK stock opened at $10.66 on Tuesday. Heritage Commerce has a 12 month low of $7.66 and a 12 month high of $11.27. The company has a market cap of $653.46 million, a PE ratio of 15.14 and a beta of 0.93. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $10.04 and its two-hundred day moving average is $9.43.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $63.68 million during the quarter, compared to the consensus estimate of $43.14 million. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. Equities analysts predict that Heritage Commerce will post 0.66 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HTBK. nVerses Capital LLC bought a new position in Heritage Commerce during the third quarter worth $73,000. FMR LLC grew its position in Heritage Commerce by 103.7% in the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 3,987 shares during the last quarter. CWM LLC increased its holdings in shares of Heritage Commerce by 148.0% during the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 5,929 shares during the period. One Wealth Advisors LLC acquired a new position in shares of Heritage Commerce during the third quarter valued at about $99,000. Finally, NorthCrest Asset Manangement LLC bought a new stake in shares of Heritage Commerce in the third quarter valued at about $100,000. 75.55% of the stock is owned by institutional investors.

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.