Keefe, Bruyette & Woods Has Lowered Expectations for Heritage Commerce (NASDAQ:HTBK) Stock Price

Heritage Commerce (NASDAQ:HTBK) had its price objective cut by Keefe, Bruyette & Woods from $12.50 to $11.50 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Separately, StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th.

Heritage Commerce Trading Up 3.8 %

NASDAQ:HTBK opened at $9.54 on Friday. Heritage Commerce has a 12-month low of $7.66 and a 12-month high of $11.27. The firm has a market capitalization of $584.80 million, a P/E ratio of 13.44 and a beta of 0.96. 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 business has a 50 day simple moving average of $9.84 and a 200 day simple moving average of $9.89.

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, hitting analysts’ consensus estimates of $0.17. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. Equities research analysts predict that Heritage Commerce will post 0.66 EPS for the current year.

Heritage Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 5.45%. The ex-dividend date is Thursday, February 6th. Heritage Commerce’s dividend payout ratio is currently 73.24%.

Institutional Investors Weigh In On Heritage Commerce

Several hedge funds have recently bought and sold shares of HTBK. Wellington Management Group LLP purchased a new stake in Heritage Commerce in the 3rd quarter worth about $20,093,000. Assenagon Asset Management S.A. raised its stake in shares of Heritage Commerce by 58.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider’s stock worth $4,350,000 after purchasing an additional 170,989 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Heritage Commerce by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 544,471 shares of the financial services provider’s stock worth $4,737,000 after purchasing an additional 133,514 shares in the last quarter. State Street Corp raised its stake in shares of Heritage Commerce by 3.2% during the 3rd quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock worth $19,421,000 after purchasing an additional 61,630 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Heritage Commerce by 49.4% during the 3rd quarter. GSA Capital Partners LLP now owns 127,528 shares of the financial services provider’s stock worth $1,260,000 after purchasing an additional 42,167 shares in the last quarter. 75.55% of the stock is owned by hedge funds and other 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.