Heritage Commerce Corp (NASDAQ:HTBK - Get Free Report) Director Jack W. Conner sold 4,000 shares of Heritage Commerce 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 transaction, the director now owns 108,512 shares in the company, valued at $1,141,546.24. The trade was 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 at this link.
Heritage Commerce Stock Performance
Shares of Heritage Commerce stock opened at $10.45 on Tuesday. The stock has a market cap of $640.62 million, a PE ratio of 15.83 and a beta of 0.96. The business has a fifty day simple moving average of $9.78 and a 200-day simple moving average of $9.96. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a 12 month low of $7.66 and a 12 month high of $11.27.
Heritage Commerce (NASDAQ:HTBK - Get Free Report) last released its quarterly earnings data 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, sell-side analysts anticipate that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.
Heritage Commerce Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a yield of 4.98%. Heritage Commerce's payout ratio is 78.79%.
Institutional Trading of Heritage Commerce
Institutional investors have recently bought and sold shares of the company. State Street Corp boosted its position in Heritage Commerce by 3.2% during the third quarter. State Street Corp now owns 1,965,643 shares of the financial services provider's stock valued at $19,421,000 after purchasing an additional 61,630 shares during the last quarter. Barclays PLC boosted its position in Heritage Commerce by 7.2% during the third quarter. Barclays PLC now owns 216,439 shares of the financial services provider's stock valued at $2,139,000 after purchasing an additional 14,466 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Heritage Commerce by 58.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider's stock valued at $4,350,000 after buying an additional 170,989 shares in the last quarter. Jane Street Group LLC raised its holdings in Heritage Commerce by 55.6% during the third quarter. Jane Street Group LLC now owns 103,596 shares of the financial services provider's stock valued at $1,024,000 after buying an additional 36,997 shares in the last quarter. Finally, FMR LLC raised its holdings in Heritage Commerce by 103.7% during the third quarter. FMR LLC now owns 7,832 shares of the financial services provider's stock valued at $77,000 after buying an additional 3,987 shares in the last quarter. Institutional investors and hedge funds own 75.55% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Keefe, Bruyette & Woods decreased their target price on Heritage Commerce from $12.50 to $11.50 and set an "outperform" rating for the company in a research report on Friday, January 24th. Stephens raised 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 report on Wednesday, December 4th.
Read Our Latest Research Report on HTBK
Heritage Commerce Company Profile
(
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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.
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