Heritage Commerce Corp (NASDAQ:HTBK – Get Free Report) has been given a consensus rating of “Moderate Buy” by the four brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $10.50.
A number of research firms recently weighed in on HTBK. Piper Sandler decreased their price target on Heritage Commerce from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. StockNews.com raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Monday, May 27th.
Get Our Latest Analysis on Heritage Commerce
Hedge Funds Weigh In On Heritage Commerce
Heritage Commerce Price Performance
Shares of NASDAQ HTBK opened at $8.70 on Monday. The firm has a 50-day moving average of $8.15 and a two-hundred day moving average of $8.56. The company has a market capitalization of $532.96 million, a price-to-earnings ratio of 9.46 and a beta of 0.92. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. Heritage Commerce has a twelve month low of $7.66 and a twelve month high of $10.22.
Heritage Commerce (NASDAQ:HTBK – Get Free Report) last posted its quarterly earnings results on Friday, April 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.02). The business had revenue of $59.60 million during the quarter, compared to analyst estimates of $43.83 million. Heritage Commerce had a return on equity of 8.36% and a net margin of 22.84%. As a group, analysts expect that Heritage Commerce will post 0.73 earnings per share for the current fiscal year.
Heritage Commerce Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, May 8th. This represents a $0.52 dividend on an annualized basis and a yield of 5.98%. Heritage Commerce’s payout ratio is presently 56.52%.
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.
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