Price Don’t Lie: Heritage Commerce Corp. Surges to 52-Week High, Is Now Top Performer

Price Don't Lie: Heritage Commerce Corp. Surges to 52 Week High, Is Now Top Performer

The stock of Heritage Commerce Corp. (NASDAQ:HTBK) hit a new 52-week high and has $24.51 target or 93.00% above today’s $12.70 share price. The 5 months bullish chart indicates low risk for the $498.93 million company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $24.51 price target is reached, the company will be worth $464.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 78,613 shares traded hands. Heritage Commerce Corp. (NASDAQ:HTBK) has risen 19.63% since April 19, 2016 and is uptrending. It has outperformed by 15.77% the S&P500.

Heritage Commerce Corp. (NASDAQ:HTBK) Ratings Coverage

Out of 4 analysts covering Heritage Commerce (NASDAQ:HTBK), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Heritage Commerce has been the topic of 7 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Sandler O’Neill given on Monday, September 28. On Monday, November 23 the stock rating was upgraded by Sandler O’Neill to “Buy”. FIG Partners downgraded Heritage Commerce Corp. (NASDAQ:HTBK) on Tuesday, October 27 to “Market Perform” rating.

According to Zacks Investment Research, “Heritage Commerce Corp. is the holding company of Heritage Bank of Commerce, Heritage Bank East Bay, Heritage Bank South Valley and Bank of Los Altos. The company offers a range of loans, primarily commercial, including real estate, construction, Small Business Administration), inventory and accounts receivable, and equipment loans. The company also accepts checking, savings, and time deposits; NOW and money market deposit accounts; and provides travelers’ checks, safe deposit, and other customary non-deposit banking services.”

Insitutional Activity: The institutional sentiment increased to 1.74 in Q2 2016. Its up 0.57, from 1.17 in 2016Q1. The ratio is positive, as 7 funds sold all Heritage Commerce Corp. shares owned while 28 reduced positions. 12 funds bought stakes while 29 increased positions. They now own 19.52 million shares or 1.13% more from 19.30 million shares in 2016Q1.
Penn Capital Mgmt holds 0.1% or 169,751 shares in its portfolio. Blackrock Llc accumulated 0% or 12,800 shares. Credit Suisse Ag has 0% invested in the company for 12,493 shares. Mai Capital holds 0.04% or 43,716 shares in its portfolio. Blackrock Gp Ltd owns 22,827 shares or 0% of their US portfolio. Moreover, State Common Retirement Fund has 0% invested in Heritage Commerce Corp. (NASDAQ:HTBK) for 61,546 shares. Vanguard Gp reported 1.33 million shares or 0% of all its holdings. Globeflex Cap L P holds 0.09% or 32,151 shares in its portfolio. Castle Creek Cap Prns Iv Lp accumulated 1.31 million shares or 6.63% of the stock. Dalton Greiner Hartman Maher & reported 104,336 shares or 0.07% of all its holdings. Susquehanna Intl Limited Liability Partnership accumulated 0% or 17,467 shares. Alliancebernstein L P reported 165,046 shares or 0% of all its holdings. Phocas Corporation, a California-based fund reported 504,683 shares. Emerald Mutual Fund Advisers Trust, a Pennsylvania-based fund reported 138,670 shares. Teton Advisors holds 26,000 shares or 0.02% of its portfolio.

Insider Transactions: Since May 25, 2016, the stock had 2 insider purchases, and 19 insider sales for $37.06 million net activity. Shares for $10.71M were sold by EGGEMEYER JOHN M III on Monday, August 29. BIAGINI KOMAS JULIANNE M sold $26,875 worth of Heritage Commerce Corp. (NASDAQ:HTBK) on Wednesday, May 25. DINAPOLI J PHILIP bought $10,778 worth of stock. $445,224 worth of shares were sold by WYCOFF W KIRK on Thursday, September 1. Conner Jack W had sold 300 shares worth $3,462.

More notable recent Heritage Commerce Corp. (NASDAQ:HTBK) news were published by: Reuters.com which released: “BRIEF-Heritage Commerce Corp posts Q3 earnings per share $0.18” on October 28, 2016, also Globenewswire.com with their article: “Heritage Commerce Corp Named to Sandler O’Neill Bank and Thrift Sm-All Stars …” published on September 28, 2016, Nasdaq.com published: “Heritage Commerce Corp (HTBK) Ex-Dividend Date Scheduled for November 04, 2016” on November 03, 2016. More interesting news about Heritage Commerce Corp. (NASDAQ:HTBK) were released by: Globenewswire.com and their article: “Heritage Commerce Corp and Focus Business Bank Plan to Merge” published on April 23, 2015 as well as Globenewswire.com‘s news article titled: “Heritage Commerce Corp Announces the Completion of Its Merger With Focus …” with publication date: August 21, 2015.

HTBK Company Profile

Heritage Commerce Corp, incorporated on October 9, 1997, 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. The Firm operates through approximately 10 service branch offices located in the southern and eastern regions of the general San Francisco Bay Area of California in the counties of Santa Clara, Alameda, Contra Costa and San Benito. The Company’s subsidiary BVF/CSNK Acquisition Corp. provides business-essential working capital factoring financing to various industries across the United States.

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