Heritage Commerce Corp. (NASDAQ:HTBK) Director Jack W. Conner bought 7,879 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were acquired at an average cost of $12.24 per share, for a total transaction of $96,438.96. Following the completion of the acquisition, the director now directly owns 85,432 shares of the company’s stock, valued at approximately $1,045,687.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NASDAQ:HTBK opened at $12.24 on Friday. The firm has a market cap of $530.29 million, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.51 and a beta of 0.87. Heritage Commerce Corp. has a 1-year low of $10.84 and a 1-year high of $18.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.72 and a current ratio of 0.72.
Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.28 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.28. The company had revenue of $33.51 million for the quarter, compared to analysts’ expectations of $35.23 million. Heritage Commerce had a net margin of 26.62% and a return on equity of 13.01%. As a group, equities research analysts anticipate that Heritage Commerce Corp. will post 1.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, May 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.92%. Heritage Commerce’s dividend payout ratio (DPR) is 45.28%.
HTBK has been the topic of a number of research reports. Brean Capital reissued a “buy” rating and set a $16.00 target price on shares of Heritage Commerce in a report on Friday, January 25th. Zacks Investment Research raised shares of Heritage Commerce from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Wednesday, March 27th. BidaskClub cut shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Finally, ValuEngine cut shares of Heritage Commerce from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 20th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. Heritage Commerce presently has a consensus rating of “Hold” and a consensus price target of $16.33.
Large investors have recently modified their holdings of the business. QS Investors LLC grew its position in shares of Heritage Commerce by 3.0% during the fourth quarter. QS Investors LLC now owns 27,244 shares of the financial services provider’s stock worth $309,000 after acquiring an additional 800 shares during the last quarter. Legal & General Group Plc grew its position in shares of Heritage Commerce by 12.8% during the fourth quarter. Legal & General Group Plc now owns 7,135 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 811 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Heritage Commerce by 1.1% during the fourth quarter. Victory Capital Management Inc. now owns 89,569 shares of the financial services provider’s stock worth $1,016,000 after acquiring an additional 1,000 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Heritage Commerce by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 246,121 shares of the financial services provider’s stock worth $2,791,000 after acquiring an additional 1,054 shares during the last quarter. Finally, Palouse Capital Management Inc. grew its position in shares of Heritage Commerce by 10.8% during the first quarter. Palouse Capital Management Inc. now owns 21,153 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 2,061 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.
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. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.
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