Heritage Commerce (NASDAQ:HTBK) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Heritage Commerce (NASDAQ:HTBK) from a hold rating to a sell rating in a report published on Tuesday.

Heritage Commerce Trading Down 0.4 %

HTBK opened at $10.62 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $651.04 million, a price-to-earnings ratio of 14.96 and a beta of 0.93. The firm has a 50 day simple moving average of $10.06 and a 200 day simple moving average of $9.45. Heritage Commerce has a fifty-two week low of $7.66 and a fifty-two week high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates 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%. On average, sell-side analysts anticipate that Heritage Commerce will post 0.66 earnings per share for the current year.

Heritage Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date was Thursday, November 7th. Heritage Commerce’s dividend payout ratio (DPR) is 73.24%.

Institutional Investors Weigh In On Heritage Commerce

Institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC bought a new stake in Heritage Commerce in the third quarter valued at approximately $73,000. FMR LLC increased its stake in Heritage Commerce by 103.7% in the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 3,987 shares in the last quarter. CWM LLC increased its stake in Heritage Commerce by 148.0% in the second quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 5,929 shares in the last quarter. ProShare Advisors LLC bought a new stake in Heritage Commerce in the first quarter valued at approximately $91,000. Finally, One Wealth Advisors LLC bought a new stake in Heritage Commerce in the third quarter valued at approximately $99,000. 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.