Heritage Commerce Corp. (NASDAQ: HTBK)’s stock price has gone decline by -3.25 in comparison to its previous close of 8.18, however, the company has experienced a -2.53% decrease in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-25 that Although the revenue and EPS for Heritage Commerce (HTBK) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Is It Worth Investing in Heritage Commerce Corp. (NASDAQ: HTBK) Right Now?
Heritage Commerce Corp. (NASDAQ: HTBK) has a higher price-to-earnings ratio of 7.53x compared to its average ratio. HTBK has 36-month beta value of 0.89. Analysts have mixed views on the stock, with 1 analysts rating it as a “buy,” 2 as “overweight,” 2 as “hold,” and 0 as “sell.”
The public float for HTBK is 58.70M, and currently, short sellers hold a 1.29% ratio of that float. The average trading volume of HTBK on April 26, 2024 was 397.53K shares.
HTBK’s Market Performance
The stock of Heritage Commerce Corp. (HTBK) has seen a -2.53% decrease in the past week, with a -7.22% drop in the past month, and a -13.88% fall in the past quarter. The volatility ratio for the week is 2.65%, and the volatility levels for the past 30 days are at 2.47% for HTBK. The simple moving average for the past 20 days is -2.72% for HTBK’s stock, with a -9.60% simple moving average for the past 200 days.
Analysts’ Opinion of HTBK
Many brokerage firms have already submitted their reports for HTBK stocks, with Stephens repeating the rating for HTBK by listing it as a “Equal-Weight.” The predicted price for HTBK in the upcoming period, according to Stephens is $10 based on the research report published on August 11, 2023 of the previous year 2023.
Raymond James, on the other hand, stated in their research note that they expect to see HTBK reach a price target of $15, previously predicting the price at $13. The rating they have provided for HTBK stocks is “Outperform” according to the report published on October 31st, 2022.
Stephens gave a rating of “Overweight” to HTBK, setting the target price at $13.50 in the report published on December 28th of the previous year.
HTBK Trading at -4.03% from the 50-Day Moving Average
After a stumble in the market that brought HTBK to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -22.56% of loss for the given period.
Volatility was left at 2.47%, however, over the last 30 days, the volatility rate increased by 2.65%, as shares sank -8.22% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.26% lower at present.
During the last 5 trading sessions, HTBK fell by -3.02%, which changed the moving average for the period of 200-days by -9.38% in comparison to the 20-day moving average, which settled at $8.10. In addition, Heritage Commerce Corp. saw -20.22% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at HTBK starting from Conner Jack W, who sale 6,944 shares at the price of $8.92 back on Jan 31 ’24. After this action, Conner Jack W now owns 102,501 shares of Heritage Commerce Corp., valued at $61,941 using the latest closing price.
Conner Jack W, the Director of Heritage Commerce Corp., purchase 5,000 shares at $7.37 during a trade that took place back on May 05 ’23, which means that Conner Jack W is holding 44,344 shares at $36,844 based on the most recent closing price.
Stock Fundamentals for HTBK
Current profitability levels for the company are sitting at:
- 0.16 for the present operating margin
- 0.25 for the gross margin
The net margin for Heritage Commerce Corp. stands at 0.31. The total capital return value is set at 0.01. Equity return is now at value 9.87, with 1.25 for asset returns.
Based on Heritage Commerce Corp. (HTBK), the company’s capital structure generated 0.06 points at debt to capital in total, while cash flow to debt ratio is standing at 1.61. The debt to equity ratio resting at 0.07. The interest coverage ratio of the stock is 0.94.
Currently, EBITDA for the company is 90419.0 with net debt to EBITDA at -10.01. When we switch over and look at the enterprise to sales, we see a ratio of 0.73. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.19.
Conclusion
To put it simply, Heritage Commerce Corp. (HTBK) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
