Heritage Commerce (NASDAQ:HTBK) Upgraded to Overweight at Stephens

Stephens upgraded shares of Heritage Commerce (NASDAQ:HTBK) from an equal weight rating to an overweight rating in a research note released on Friday, Marketbeat reports.

Several other equities research analysts also recently issued reports on HTBK. StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Keefe, Bruyette & Woods lowered their target price on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a research note on Friday, January 24th.

Heritage Commerce Stock Up 1.0 %

Heritage Commerce stock opened at $10.32 on Friday. Heritage Commerce has a fifty-two week low of $7.66 and a fifty-two week high of $11.27. 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 firm has a market capitalization of $632.62 million, a price-to-earnings ratio of 15.64 and a beta of 0.96. The company’s 50 day simple moving average is $9.67 and its 200 day simple moving average is $9.90.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. As a group, sell-side analysts anticipate that Heritage Commerce will post 0.8 EPS for the current year.

Heritage Commerce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 5.04%. The ex-dividend date of this dividend is Thursday, February 6th. Heritage Commerce’s dividend payout ratio is 78.79%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE raised its position in Heritage Commerce by 64.8% in the 4th quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock valued at $33,000 after buying an additional 1,365 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Heritage Commerce in the third quarter valued at approximately $73,000. FMR LLC lifted its position in shares of Heritage Commerce by 103.7% in the third 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 in the last quarter. One Wealth Advisors LLC bought a new stake in shares of Heritage Commerce in the third quarter worth $99,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Heritage Commerce during the fourth quarter worth $99,000. 75.55% of the stock is 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.