Brean Capital Sticks to Their Buy Rating for Heritage Commerce Corp

By Ryan Adsit

Brean Capital analyst Blair Brantley reiterated a Buy rating on Heritage Commerce Corp (NASDAQ: HTBK) today. The company’s shares opened today at $16.30.

According to TipRanks.com, Brantley is a 3-star analyst with an average return of 3.8% and a 64.3% success rate. Brantley covers the Financial sector, focusing on stocks such as Union First Market Bankshares Corp, Carolina Financial Corporation, and Community Bankers Trust Corp.

Heritage Commerce Corp has an analyst consensus of Strong Buy, with a price target consensus of $18.50.

Based on Heritage Commerce Corp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $30.72 million and quarterly net profit of $1.38 million. In comparison, last year the company earned revenue of $26.99 million and had a net profit of $6.54 million.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock.

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Heritage Commerce Corp. is a holding company which provides banking services through their subsidiary. It operates through the Banking and Factoring segments. The Banking segment includes holding company’s results of operations. The Factoring segment focuses on factoring originated by bay view funding.