Heritage Commerce (NASDAQ:HTBK) Rating Lowered to Sell at StockNews.com

Heritage Commerce (NASDAQ:HTBK) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

Heritage Commerce Trading Up 0.1 %

NASDAQ HTBK opened at $10.92 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. The stock’s 50-day simple moving average is $10.03 and its two-hundred day simple moving average is $9.42. Heritage Commerce has a twelve month low of $7.66 and a twelve month high of $11.27. The company has a market capitalization of $669.43 million, a price-to-earnings ratio of 15.38 and a beta of 0.93.

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

Hedge Funds Weigh In On Heritage Commerce

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Heritage Commerce by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider’s stock worth $28,392,000 after purchasing an additional 123,973 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Heritage Commerce in the third quarter worth about $20,093,000. State Street Corp increased its holdings 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 worth $19,421,000 after buying an additional 61,630 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Heritage Commerce by 830.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider’s stock valued at $8,912,000 after acquiring an additional 914,249 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Heritage Commerce by 21.2% during the 2nd quarter. American Century Companies Inc. now owns 921,389 shares of the financial services provider’s stock valued at $8,016,000 after acquiring an additional 160,977 shares during the period. 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.