Heritage Commerce (HTBK) – Investment Analysts’ Recent Ratings Changes

Heritage Commerce (NASDAQ: HTBK) has recently received a number of price target changes and ratings updates:

  • 1/11/2018 – Heritage Commerce was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 1/2/2018 – Heritage Commerce had its “buy” rating reaffirmed by analysts at Brean Capital.
  • 12/27/2017 – Heritage Commerce was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 12/22/2017 – Heritage Commerce was given a new $18.00 price target on by analysts at Brean Capital. They now have a “buy” rating on the stock. They wrote, “After the close, HTBK announced a small, in-market deal with its acquisition of Tri-Valley Bank (TRVB – NR) in an all-stock deal valued at ~$31.6M. The acquisition enhances HTBK’s Bay Area presence while also providing consolidation opportunities, resulting in elevated projected cost savings. While not a material deal in terms of size, we are encouraged with management’s efforts to continue expanding the franchise in an accretive manner (both on earnings and TBV). Given the pending tax reform, we had estimated HTBK’s TCE levels would fall below 8% while its Total Capital ratio would remain full (14%+). Commentary suggests at closing that TCE will be modestly above 8%, which, combined with a healthy valuation, excess liquidity and an attractive earnings profile (lower tax rate helps too), positions the company to continue pursuing external growth as a complement to healthy organic expansion prospects.””
  • 12/19/2017 – Heritage Commerce was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 12/9/2017 – Heritage Commerce was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 12/5/2017 – Heritage Commerce had its “buy” rating reaffirmed by analysts at Brean Capital.

Heritage Commerce Corp. (HTBK) opened at $16.25 on Friday. The company has a market capitalization of $611.57, a price-to-earnings ratio of 21.10, a PEG ratio of 1.52 and a beta of 0.51. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.14. Heritage Commerce Corp. has a fifty-two week low of $12.76 and a fifty-two week high of $16.63.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $28.78 million for the quarter, compared to analyst estimates of $28.70 million. Heritage Commerce had a return on equity of 11.15% and a net margin of 26.40%. sell-side analysts predict that Heritage Commerce Corp. will post 0.82 EPS for the current fiscal year.

Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.

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