Heritage Commerce Corp (NASDAQ:HTBK) CEO Robertson Clay Jones, Jr. Sells 5,145 Shares of Stock

Heritage Commerce Corp (NASDAQ:HTBK) CEO Robertson Clay Jones, Jr. sold 5,145 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.73, for a total transaction of $50,060.85. Following the completion of the transaction, the chief executive officer now owns 254,227 shares of the company’s stock, valued at approximately $2,473,628.71. This represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Heritage Commerce Stock Performance

NASDAQ:HTBK opened at $9.45 on Wednesday. The company has a fifty day moving average of $9.83 and a two-hundred day moving average of $9.97. Heritage Commerce Corp has a fifty-two week low of $7.66 and a fifty-two week high of $11.27. The stock has a market capitalization of $579.31 million, a PE ratio of 14.32 and a beta of 0.92. 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 released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. As a group, research analysts forecast that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.52 annualized dividend and a dividend yield of 5.50%. Heritage Commerce’s dividend payout ratio (DPR) is presently 78.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Stephens upgraded shares of Heritage Commerce from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods reduced their price target on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, StockNews.com raised Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th.

Institutional Trading of Heritage Commerce

Several large investors have recently made changes to their positions in HTBK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Heritage Commerce by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,920 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 1,115 shares in the last quarter. First Trust Advisors LP boosted its position in Heritage Commerce by 3.5% during the fourth quarter. First Trust Advisors LP now owns 38,379 shares of the financial services provider’s stock worth $360,000 after acquiring an additional 1,297 shares during the last quarter. Franklin Resources Inc. grew its stake in Heritage Commerce by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 46,089 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 1,302 shares in the last quarter. US Bancorp DE raised its holdings in 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 acquiring an additional 1,365 shares during the last quarter. Finally, Princeton Capital Management LLC lifted its stake in Heritage Commerce by 13.3% in the 4th quarter. Princeton Capital Management LLC now owns 17,041 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 2,000 shares in the last quarter. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

About Heritage Commerce

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.