Heritage Commerce price target lowered to $11.50 from $12.50 at Keefe Bruyette

Keefe Bruyette analyst Wood Lay lowered the firm’s price target on Heritage Commerce (HTBK) to $11.50 from $12.50 and keeps an Outperform rating on the shares. Heritage Commerce’s Q4 results were better than expected due to better net interest income, partially offset by higher expenses, the analyst tells investors in a research note.