Heritage Commerce Corp (NASDAQ:HTBK) EVP Sells $15,587.46 in Stock

Heritage Commerce Corp (NASDAQ:HTBK) EVP Susan Svensson Just sold 1,602 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.73, for a total value of $15,587.46. Following the completion of the sale, the executive vice president now owns 10,774 shares in the company, valued at $104,831.02. This trade represents a 12.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Heritage Commerce Stock Down 1.7 %

HTBK stock opened at $9.45 on Wednesday. The stock’s 50 day simple moving average is $9.83 and its 200 day simple moving average is $9.97. Heritage Commerce Corp has a fifty-two week low of $7.66 and a fifty-two week high of $11.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $579.31 million, a P/E ratio of 14.32 and a beta of 0.92.

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

Heritage Commerce Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have commented on HTBK. StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods reduced their price target 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 a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd.

Institutional Trading of Heritage Commerce

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP grew its holdings in shares of Heritage Commerce by 562.4% in the fourth quarter. Quarry LP now owns 3,153 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 2,677 shares in the last quarter. US Bancorp DE grew its holdings in shares of Heritage Commerce by 64.8% in the fourth 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 in the last quarter. FMR LLC grew its holdings in shares of Heritage Commerce by 103.7% in the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 3,987 shares in the last quarter. Two Sigma Securities LLC bought a new position in shares of Heritage Commerce in the fourth quarter valued at approximately $97,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Heritage Commerce in the fourth quarter valued at approximately $99,000. 75.55% of the stock is 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.