BidaskClub upgraded shares of Heritage Commerce (NASDAQ:HTBK) from a strong sell rating to a sell rating in a research note issued to investors on Thursday, BidAskClub reports.

HTBK has been the topic of a number of other research reports. ValuEngine upgraded Heritage Commerce from a strong sell rating to a sell rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded Heritage Commerce from a sell rating to a hold rating in a research note on Tuesday, August 6th.

Heritage Commerce stock traded up $0.10 during midday trading on Thursday, reaching $12.43. The stock had a trading volume of 143,575 shares, compared to its average volume of 167,991. The stock’s 50-day simple moving average is $11.67 and its 200 day simple moving average is $12.25. The stock has a market capitalization of $522.85 million, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.64 and a beta of 0.84. Heritage Commerce has a twelve month low of $10.84 and a twelve month high of $15.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 0.73.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.02). The company had revenue of $33.68 million for the quarter, compared to analyst estimates of $34.80 million. Heritage Commerce had a return on equity of 13.39% and a net margin of 33.46%. Equities analysts predict that Heritage Commerce will post 1.05 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Wednesday, August 7th. Heritage Commerce’s payout ratio is 45.28%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC bought a new position in shares of Heritage Commerce during the second quarter valued at approximately $128,000. Security National Bank raised its stake in Heritage Commerce by 6.7% during the 2nd quarter. Security National Bank now owns 217,883 shares of the financial services provider’s stock valued at $2,669,000 after purchasing an additional 13,688 shares during the period. Enterprise Trust & Investment Co acquired a new stake in Heritage Commerce during the 2nd quarter valued at $1,044,000. Globeflex Capital L P raised its stake in Heritage Commerce by 26.5% during the 1st quarter. Globeflex Capital L P now owns 13,788 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 2,888 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in Heritage Commerce by 63,869.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,316 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 8,303 shares during the period. 77.85% of the stock is currently owned by institutional investors and hedge funds.

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. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.

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