Stephens Reiterates “Equal Weight” Rating for Heritage Commerce (NASDAQ:HTBK)

Heritage Commerce (NASDAQ:HTBK)‘s stock had its “equal weight” rating restated by Stephens in a research note issued to investors on Monday,Benzinga reports. They presently have a $11.00 price objective on the financial services provider’s stock. Stephens’ target price would suggest a potential upside of 14.23% from the company’s current price.

A number of other equities research analysts have also recently commented on HTBK. StockNews.com raised Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods reduced their price objective on shares of 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 Down 0.7 %

NASDAQ:HTBK opened at $9.63 on Monday. Heritage Commerce has a 1-year low of $7.66 and a 1-year high of $11.27. The company has a market capitalization of $590.32 million, a PE ratio of 13.56 and a beta of 0.96. The firm’s 50-day moving average price is $9.80 and its 200-day moving average price is $9.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73.

Heritage Commerce (NASDAQ:HTBK) last released its 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 17.61% and a return on equity of 6.37%. On average, equities analysts predict that Heritage Commerce will post 0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP purchased a new stake in Heritage Commerce during the 3rd quarter valued at $20,093,000. State Street Corp grew 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 valued at $19,421,000 after purchasing an additional 61,630 shares during the period. AQR Capital Management LLC lifted its stake in shares of Heritage Commerce by 32.5% in 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 during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Heritage Commerce by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 496,190 shares of the financial services provider’s stock worth $4,902,000 after acquiring an additional 6,884 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Heritage Commerce by 58.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider’s stock valued at $4,350,000 after purchasing an additional 170,989 shares in the last quarter. Institutional investors own 75.55% of the company’s stock.

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.