Heritage Commerce Corp (NASDAQ:HTBK) Receives $13.13 Average PT from Analysts

Shares of Heritage Commerce Corp (NASDAQ:HTBK) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $13.1250.

HTBK has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Heritage Commerce from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Zacks Research lowered shares of Heritage Commerce from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th.

Heritage Commerce Stock Performance

Shares of Heritage Commerce stock opened at $13.45 on Monday. The stock has a market capitalization of $828.43 million, a P/E ratio of 17.24 and a beta of 0.69. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.06. The company has a 50-day simple moving average of $13.44 and a 200 day simple moving average of $12.92. Heritage Commerce has a 12-month low of $8.73 and a 12-month high of $13.83.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Clearstead Advisors LLC boosted its stake in shares of Heritage Commerce by 129.5% in the 4th quarter. Clearstead Advisors LLC now owns 3,599 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 2,031 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Heritage Commerce by 42.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,739 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 1,405 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Heritage Commerce by 16,272.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,403 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 5,370 shares during the last quarter. Globeflex Capital L P bought a new position in shares of Heritage Commerce in the 4th quarter valued at about $66,000. Finally, Larson Financial Group LLC boosted its stake in shares of Heritage Commerce by 495.3% in the 3rd quarter. Larson Financial Group LLC now owns 5,620 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 4,676 shares during the last quarter. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Company Profile

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.