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

Heritage Commerce (NASDAQ:HTBK) had its price target decreased by analysts at Keefe, Bruyette & Woods from $12.50 to $11.50 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 20.55% from the company’s current price.

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

Heritage Commerce Stock Performance

Shares of NASDAQ:HTBK opened at $9.54 on Friday. The company has a market cap of $584.80 million, a P/E ratio of 13.44 and a beta of 0.96. Heritage Commerce has a one year low of $7.66 and a one year high of $11.27. The business’s 50-day simple moving average is $9.84 and its 200 day simple moving average is $9.88. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73.

Heritage Commerce (NASDAQ:HTBK) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. On average, sell-side analysts forecast that Heritage Commerce will post 0.66 earnings per share for the current fiscal year.

Institutional Trading of Heritage Commerce

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its stake in Heritage Commerce by 2.9% during the 3rd 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 during the last quarter. SG Americas Securities LLC lifted its position in shares of Heritage Commerce by 5.9% during the fourth quarter. SG Americas Securities LLC now owns 45,763 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 2,558 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Heritage Commerce by 27.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 3,529 shares in the last quarter. FMR LLC grew its position in shares of Heritage Commerce by 103.7% in the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 3,987 shares in the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. increased its stake in Heritage Commerce by 2.1% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 203,837 shares of the financial services provider’s stock valued at $2,014,000 after purchasing an additional 4,250 shares during 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.