Heritage Commerce (NASDAQ:HTBK) Hits New 52-Week High – Should You Buy?

Heritage Commerce Corp (NASDAQ:HTBK) hit a new 52-week high on Thursday . The company traded as high as $12.91 and last traded at $12.9050, with a volume of 161505 shares changing hands. The stock had previously closed at $12.45.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wall Street Zen lowered Heritage Commerce from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Heritage Commerce in a research report on Monday, December 29th. Stephens reissued an “equal weight” rating on shares of Heritage Commerce in a research report on Monday, January 5th. DA Davidson restated a “neutral” rating and set a $14.50 target price (up from $12.50) on shares of Heritage Commerce in a research note on Thursday, December 18th. Finally, Piper Sandler increased their price target on Heritage Commerce from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Heritage Commerce currently has a consensus rating of “Hold” and a consensus price target of $12.25.

Heritage Commerce Trading Up 3.0%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $785.92 million, a price-to-earnings ratio of 18.29 and a beta of 0.80. The company’s fifty day moving average is $11.59 and its two-hundred day moving average is $10.59.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.24 earnings per share for the quarter. Heritage Commerce had a net margin of 16.31% and a return on equity of 7.18%. The firm had revenue of $50.01 million for the quarter. On average, research analysts anticipate that Heritage Commerce Corp will post 0.8 EPS for the current year.

Heritage Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Thursday, November 6th. Heritage Commerce’s dividend payout ratio (DPR) is currently 74.29%.

Institutional Trading of Heritage Commerce

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust lifted its holdings in Heritage Commerce by 56.5% in the third quarter. Parkside Financial Bank & Trust now owns 5,026 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 1,815 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Heritage Commerce by 16,272.7% during the second quarter. EverSource Wealth Advisors LLC now owns 5,403 shares of the financial services provider’s stock worth $54,000 after buying an additional 5,370 shares in the last quarter. Larson Financial Group LLC grew its position in Heritage Commerce by 495.3% during the third quarter. Larson Financial Group LLC now owns 5,620 shares of the financial services provider’s stock valued at $56,000 after buying an additional 4,676 shares during the period. Russell Investments Group Ltd. raised its position in shares of Heritage Commerce by 368.9% in the third quarter. Russell Investments Group Ltd. now owns 6,433 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 5,061 shares during the period. Finally, D.A. Davidson & CO. purchased a new stake in shares of Heritage Commerce during the 3rd quarter worth about $101,000. 75.55% of the stock is owned by institutional investors and hedge funds.

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.