Heritage Commerce (NASDAQ:HTBK) Hits New 12-Month High – Time to Buy?

Heritage Commerce Corp (NASDAQ:HTBK) shares hit a new 52-week high on Wednesday . The stock traded as high as $11.01 and last traded at $10.98, with a volume of 52301 shares. The stock had previously closed at $10.79.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Piper Sandler increased their target price on Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. StockNews.com raised Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Keefe, Bruyette & Woods increased their target price on Heritage Commerce from $10.50 to $11.50 and gave the stock an “outperform” rating in a research report on Friday, July 26th.

Heritage Commerce Stock Performance

The firm has a market capitalization of $654.07 million, a PE ratio of 15.03 and a beta of 0.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.76. The stock has a 50-day moving average price of $9.91 and a 200-day moving average price of $9.28.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.17 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%. The business had revenue of $63.68 million during the quarter, compared to the consensus estimate of $43.14 million. On average, research analysts expect that Heritage Commerce Corp will post 0.66 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 4.87%. The ex-dividend date is Thursday, November 7th. Heritage Commerce’s dividend payout ratio is presently 73.24%.

Hedge Funds Weigh In On Heritage Commerce

Institutional investors have recently modified their holdings of the company. Verition Fund Management LLC acquired a new position in Heritage Commerce during the 3rd quarter valued at about $133,000. BNP Paribas Financial Markets increased its stake in shares of Heritage Commerce by 8.2% in the third quarter. BNP Paribas Financial Markets now owns 66,678 shares of the financial services provider’s stock valued at $659,000 after purchasing an additional 5,066 shares during the period. FMR LLC raised its holdings in shares of Heritage Commerce by 103.7% during the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock valued at $77,000 after buying an additional 3,987 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of Heritage Commerce by 212.2% during the third quarter. Quantbot Technologies LP now owns 14,035 shares of the financial services provider’s stock worth $139,000 after buying an additional 9,540 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in Heritage Commerce in the 3rd quarter worth approximately $281,000. Institutional investors own 75.55% of the company’s stock.

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.