Heritage Commerce (NASDAQ:HTBK) Reaches New 52-Week High at $12.66

Heritage Commerce Corp (NASDAQ:HTBK)’s share price hit a new 52-week high on Friday . The company traded as high as $12.66 and last traded at $12.65, with a volume of 3274 shares trading hands. The stock had previously closed at $12.50.

A number of brokerages recently weighed in on HTBK. DA Davidson raised shares of Heritage Commerce from a “neutral” rating to a “buy” rating and set a $13.50 price target on the stock in a research note on Tuesday, December 14th. Zacks Investment Research lowered shares of Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, November 3rd. Finally, Stephens began coverage on shares of Heritage Commerce in a research note on Tuesday, December 28th. They issued an “overweight” rating and a $13.50 price target on the stock.

The stock’s fifty day moving average price is $11.70 and its 200-day moving average price is $11.47. The firm has a market cap of $763.02 million, a price-to-earnings ratio of 16.45 and a beta of 1.18. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.07.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings results on Thursday, October 28th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. The business had revenue of $40.59 million during the quarter, compared to the consensus estimate of $39.58 million. Heritage Commerce had a net margin of 28.64% and a return on equity of 7.81%. Analysts predict that Heritage Commerce Corp will post 0.8 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 23rd. Stockholders of record on Tuesday, November 9th were issued a dividend of $0.13 per share. The ex-dividend date was Monday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.11%. Heritage Commerce’s dividend payout ratio is currently 68.42%.

In related news, Director Stephen G. Heitel sold 27,350 shares of Heritage Commerce stock in a transaction that occurred on Monday, November 8th. The shares were sold at an average price of $12.15, for a total value of $332,302.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jason Philip Dinapoli bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 4th. The stock was bought at an average price of $12.11 per share, with a total value of $60,550.00. The disclosure for this purchase can be found here. Insiders have bought a total of 12,706 shares of company stock valued at $150,881 in the last 90 days. Insiders own 4.43% of the company’s stock.

A number of institutional investors have recently bought and sold shares of HTBK. Berman Capital Advisors LLC increased its holdings in Heritage Commerce by 125.2% in the 3rd quarter. Berman Capital Advisors LLC now owns 3,727 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 2,072 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in Heritage Commerce in the 1st quarter valued at approximately $56,000. XTX Topco Ltd acquired a new position in shares of Heritage Commerce in the second quarter worth $114,000. Metropolitan Life Insurance Co NY grew its stake in shares of Heritage Commerce by 64,406.3% in the second quarter. Metropolitan Life Insurance Co NY now owns 10,321 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 10,305 shares in the last quarter. Finally, Eqis Capital Management Inc. acquired a new position in shares of Heritage Commerce in the second quarter worth $121,000. Hedge funds and other institutional investors own 70.93% of the company’s stock.

About Heritage Commerce (NASDAQ:HTBK)

Heritage Commerce Corp. is a holding company, which engages in the provision of banking. It operates through the following Banking and Factoring segments. The Banking segment includes holding company’s results of operations. The Factoring segment focuses on factoring originated by bay view funding. The company was founded in 1997 and is headquartered in San Jose, CA.

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