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

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

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HTBK. Clearstead Advisors LLC increased its holdings in Heritage Commerce by 129.5% in the fourth 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 period. EverSource Wealth Advisors LLC increased 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 acquiring an additional 5,370 shares in the last quarter. Larson Financial Group LLC increased its stake in Heritage Commerce by 495.3% in the third 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 in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Heritage Commerce by 42.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,739 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 1,405 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Heritage Commerce by 368.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,433 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 5,061 shares in the last quarter. 75.55% of the stock is currently owned by institutional investors and hedge funds.

Heritage Commerce Price Performance

NASDAQ HTBK opened at $13.45 on Monday. The business has a fifty day moving average price of $13.44 and a two-hundred day moving average price of $12.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.74 and a quick ratio of 0.74. Heritage Commerce has a fifty-two week low of $8.73 and a fifty-two week high of $13.83. The stock has a market capitalization of $828.43 million, a PE ratio of 17.24 and a beta of 0.69.

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.