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

Heritage Commerce (NASDAQ:HTBK) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Heritage Commerce Trading Down 0.1 %

NASDAQ HTBK opened at $10.52 on Wednesday. Heritage Commerce has a 52 week low of $7.66 and a 52 week high of $11.27. The firm has a 50 day moving average of $10.12 and a two-hundred day moving average of $9.52. The stock has a market capitalization of $644.88 million, a PE ratio of 14.82 and a beta of 0.94. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $63.68 million for the quarter, compared to the consensus estimate of $43.14 million. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. As a group, research analysts expect that Heritage Commerce will post 0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Heritage Commerce

Institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in shares of Heritage Commerce by 2.9% in the third quarter. Franklin Resources Inc. now owns 46,089 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 1,302 shares in the last quarter. Barclays PLC boosted its holdings in Heritage Commerce by 7.2% in the 3rd quarter. Barclays PLC now owns 216,439 shares of the financial services provider’s stock valued at $2,139,000 after purchasing an additional 14,466 shares in the last quarter. Jane Street Group LLC increased its position in Heritage Commerce by 55.6% during the 3rd quarter. Jane Street Group LLC now owns 103,596 shares of the financial services provider’s stock worth $1,024,000 after purchasing an additional 36,997 shares during the period. Wellington Management Group LLP purchased a new position in shares of Heritage Commerce during the 3rd quarter worth approximately $20,093,000. Finally, State Street Corp boosted its stake in shares of Heritage Commerce by 3.2% in the third quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock valued at $19,421,000 after buying an additional 61,630 shares in the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.

About Heritage Commerce

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.