Heritage Commerce Corp (HTBK) To Go Ex-Dividend on March 25th

Heritage Commerce Corp (NASDAQ:HTBK) announced a quarterly dividend on Wednesday, March 11th. Investors of record on Wednesday, March 25th will be paid a dividend of 0.13 per share by the financial services provider on Wednesday, April 8th. This represents a c) annualized dividend and a yield of 4.3%. The ex-dividend date is Wednesday, March 25th.

Heritage Commerce has a dividend payout ratio of 60.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Heritage Commerce to earn $0.90 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 57.8%.

Heritage Commerce Stock Down 1.6%

HTBK stock opened at $12.05 on Monday. The company has a market cap of $742.20 million, a price-to-earnings ratio of 15.45 and a beta of 0.79. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. Heritage Commerce has a 12 month low of $8.09 and a 12 month high of $13.82. The firm has a 50-day moving average of $12.80 and a two-hundred day moving average of $11.53.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.05. Heritage Commerce had a return on equity of 8.07% and a net margin of 17.77%.The business had revenue of $104.04 million for the quarter, compared to analysts’ expectations of $50.78 million. As a group, analysts forecast that Heritage Commerce will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Zacks Research raised Heritage Commerce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. Janney Montgomery Scott downgraded Heritage Commerce from a “buy” rating to a “neutral” rating and raised their target price for the stock from $12.00 to $14.00 in a research note on Monday, December 22nd. Raymond James Financial lowered Heritage Commerce from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 7th. DA Davidson reissued a “neutral” rating and issued a $14.50 price objective on shares of Heritage Commerce in a report on Wednesday, February 4th. Finally, Wall Street Zen cut shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.25.

About Heritage Commerce

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.