Heritage Commerce Corp (NASDAQ:HTBK) Director Jack W. Conner Sells 4,000 Shares

Heritage Commerce Corp (NASDAQ:HTBK) Director Jack W. Conner sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were 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 in the company, valued at approximately $1,141,546.24. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Heritage Commerce Stock Down 1.5 %

Shares of HTBK stock opened at $10.45 on Tuesday. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year high of $11.27. The stock has a market cap of $640.62 million, a PE ratio of 15.83 and a beta of 0.96. The business’s fifty day moving average is $9.78 and its 200-day moving average is $9.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73.

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

Heritage Commerce Dividend Announcement

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 annualized dividend and a dividend yield of 4.98%. The ex-dividend date was Thursday, February 6th. Heritage Commerce’s dividend payout ratio (DPR) is presently 78.79%.

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods lowered their target price on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, Stephens upgraded Heritage Commerce from an “equal weight” rating to an “overweight” rating in a research report on Friday, February 7th.

Hedge Funds Weigh In On Heritage Commerce

Several hedge funds have recently modified their holdings of HTBK. Wealth Enhancement Advisory Services LLC increased its position in shares of Heritage Commerce by 27.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 3,529 shares during the period. GSA Capital Partners LLP grew its holdings in shares of Heritage Commerce by 49.4% in the 3rd quarter. GSA Capital Partners LLP now owns 127,528 shares of the financial services provider’s stock worth $1,260,000 after acquiring an additional 42,167 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Heritage Commerce by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 150,733 shares of the financial services provider’s stock worth $1,489,000 after acquiring an additional 7,638 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Heritage Commerce in the 3rd quarter worth $116,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Heritage Commerce by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 496,190 shares of the financial services provider’s stock worth $4,902,000 after acquiring an additional 6,884 shares during the last quarter. 75.55% of the stock is currently owned by institutional investors and hedge funds.

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.