Some Traders Are Very Bullish on Heritage Commerce Corp (HTBK) After Forming Bullish Double Top

May 16, 2018 - By Mari Anderson

Investors sentiment increased to 1.33 in Q4 2017. Its up 0.03, from 1.3 in 2017Q3. It increased, as 7 investors sold Heritage Commerce Corp shares while 32 reduced holdings. 19 funds opened positions while 33 raised stakes. 26.41 million shares or 1.53% more from 26.01 million shares in 2017Q3 were reported.
Zacks Invest holds 0.04% or 112,418 shares in its portfolio. Stieven Cap L P invested in 321,509 shares or 0.87% of the stock. Jpmorgan Chase reported 66,212 shares. Fincl Bank Of Ny Mellon owns 241,157 shares for 0% of their portfolio. Moreover, Meeder Asset Management has 0.01% invested in Heritage Commerce Corp (NASDAQ:HTBK) for 8,100 shares. Td Asset Mgmt Incorporated holds 0% or 51,353 shares. Ameritas Partners owns 3,178 shares or 0% of their US portfolio. Aqr Capital Lc stated it has 27,829 shares. Alliancebernstein Limited Partnership accumulated 21,921 shares. Martingale Asset Mngmt L P invested in 0.02% or 95,412 shares. Deutsche Commercial Bank Ag stated it has 140,516 shares. Kennedy reported 349,330 shares stake. Stone Ridge Asset Mngmt Ltd Company has invested 0.05% in Heritage Commerce Corp (NASDAQ:HTBK). Menta Cap Limited Company holds 0.28% of its portfolio in Heritage Commerce Corp (NASDAQ:HTBK) for 92,698 shares. Goldman Sachs Inc, a New York-based fund reported 77,538 shares.

Since February 8, 2018, it had 0 insider purchases, and 2 selling transactions for $769,384 activity.

The chart of Heritage Commerce Corp (HTBK) shows a double top with $17.49 target or 4.00 % above today’s $16.82 share price. The 6 months chart pattern indicates low risk for the $723.02 million company. It was reported on May, 16 by Finviz.com. If the $17.49 price target is reached, the company will be worth $28.92M more. Double tops are rare but powerful chart patterns.

The stock decreased 0.06% or $0.01 during the last trading session, reaching $16.82. About 10,538 shares traded. Heritage Commerce Corp (NASDAQ:HTBK) has risen 21.47% since May 16, 2017 and is uptrending. It has outperformed by 9.92% the S&P500.

Analysts await Heritage Commerce Corp (NASDAQ:HTBK) to report earnings on July, 26. They expect $0.20 EPS, up 5.26 % or $0.01 from last year’s $0.19 per share. HTBK’s profit will be $8.60 million for 21.03 P/E if the $0.20 EPS becomes a reality. After $0.23 actual EPS reported by Heritage Commerce Corp for the previous quarter, Wall Street now forecasts -13.04 % negative EPS growth.

Heritage Commerce Corp (NASDAQ:HTBK) Ratings Coverage

Among 4 analysts covering Heritage Commerce Corp (NASDAQ:HTBK), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Heritage Commerce Corp had 19 analyst reports since December 1, 2017 according to SRatingsIntel. The firm has “Buy” rating given on Tuesday, March 13 by Keefe Bruyette & Woods. As per Friday, May 11, the company rating was maintained by Brean Capital. The rating was maintained by Brean Capital with “Buy” on Friday, January 12. The firm has “Buy” rating given on Tuesday, January 2 by Brean Capital. The stock of Heritage Commerce Corp (NASDAQ:HTBK) earned “Buy” rating by Brean Capital on Monday, April 16. The stock has “Buy” rating by Brean Capital on Friday, January 26. On Monday, April 30 the stock rating was maintained by DA Davidson with “Buy”. Brean Capital maintained Heritage Commerce Corp (NASDAQ:HTBK) on Friday, December 1 with “Buy” rating. The stock of Heritage Commerce Corp (NASDAQ:HTBK) has “Buy” rating given on Monday, February 5 by Brean Capital. The company was maintained on Monday, February 26 by Keefe Bruyette & Woods.

More news for Heritage Commerce Corp (NASDAQ:HTBK) were recently published by: Globenewswire.com, which released: “Heritage Commerce Corp Earns $8.8 Million in the First Quarter of 2018” on April 26, 2018. Nasdaq.com‘s article titled: “Heritage Commerce Corp Declares Quarterly Cash Dividend of $0.11 Per Share” and published on April 26, 2018 is yet another important article.

Heritage Commerce Corp operates as the bank holding firm for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. The company has market cap of $723.02 million. It offers a range of deposit products for business banking and retail markets, including checking accounts, savings accounts, demand deposits, money market accounts, and time deposits. It has a 24.74 P/E ratio. The firm also provides various loan products comprising commercial loans, such as operating secured and unsecured loans advanced for working capital, equipment purchases, and other business purposes; commercial real estate loans; commercial construction loans for rental properties, commercial buildings, and homes; home equity lines of credit; consumer loans consisting of loans for financing automobiles, various consumer goods, and other personal purposes; and small business administration loans.

Heritage Commerce Corp (NASDAQ:HTBK) Institutional Positions Chart

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