Raymond James Keeps Their Buy Rating on Heritage Commerce (HTBK)

In a report released today, David Feaster from Raymond James maintained a Buy rating on Heritage Commerce (HTBKResearch Report), with a price target of $13.00. The company’s shares opened today at $11.85.

Feaster covers the Financial sector, focusing on stocks such as Axos Financial, Heritage Commerce, and Banner. According to TipRanks, Feaster has an average return of 27.5% and a 69.88% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Heritage Commerce with a $13.00 average price target.

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Based on Heritage Commerce’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $50.82 million and a net profit of $18.07 million. In comparison, last year the company earned a revenue of $40.59 million and had a net profit of $13.72 million

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HTBK in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Heritage Commerce Corp. is a holding company which provides banking services through their subsidiary. It operates through the following segments: Banking and Factoring. The Banking segment includes holding company’s results of operations. The Factoring segment focuses on factoring originated by bay view funding. The company was founded in 1997 and is headquartered in San Jose, CA.

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