Heritage Commerce Corp (NASDAQ:HTBK) Director Sells $42,080.00 in Stock

Heritage Commerce Corp (NASDAQ:HTBK) Director Jack W. Conner sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $10.52, for a total value of $42,080.00. Following the completion of the sale, the director now owns 108,512 shares of the company’s stock, valued at approximately $1,141,546.24. This represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Heritage Commerce Price Performance

Heritage Commerce stock opened at $10.12 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market cap of $620.39 million, a price-to-earnings ratio of 15.33 and a beta of 0.96. The firm has a 50-day moving average of $9.78 and a two-hundred day moving average of $9.96. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. On average, research analysts forecast that Heritage Commerce Corp will post 0.8 earnings per share for the current year.

Heritage Commerce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date of this dividend was Thursday, February 6th. Heritage Commerce’s payout ratio is 78.79%.

Wall Street Analysts Forecast Growth

HTBK has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a report on Friday, January 24th. Stephens upgraded Heritage Commerce from an “equal weight” rating to an “overweight” rating in a research report on Friday, February 7th. Finally, StockNews.com raised Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th.

Hedge Funds Weigh In On Heritage Commerce

Several institutional investors have recently made changes to their positions in HTBK. Quarry LP grew its holdings in Heritage Commerce by 562.4% during the 4th quarter. Quarry LP now owns 3,153 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 2,677 shares in the last quarter. US Bancorp DE raised its holdings in shares of Heritage Commerce by 64.8% in the 4th quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,365 shares in the last quarter. FMR LLC lifted its position in shares of Heritage Commerce by 103.7% in the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 3,987 shares during the period. Two Sigma Securities LLC bought a new position in shares of Heritage Commerce during the fourth quarter valued at approximately $97,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Heritage Commerce during the fourth quarter valued at approximately $99,000. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Heritage Commerce Company Profile

Heritage Commerce Corp operates as the bank holding company for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.