Heritage Commerce Corp. (NASDAQ:HTBK) Director Jack W. Conner sold 24,500 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $15.47, for a total value of $379,015.00. Following the sale, the director now owns 83,324 shares in the company, valued at approximately $1,289,022.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Heritage Commerce Corp. (NASDAQ:HTBK) opened at $15.70 on Wednesday. Heritage Commerce Corp. has a 1-year low of $12.76 and a 1-year high of $16.80. The company has a market capitalization of $588.29, a PE ratio of 25.32, a PEG ratio of 1.51 and a beta of 0.61. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.77 and a quick ratio of 0.76.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, February 7th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.80%. This is an increase from Heritage Commerce’s previous quarterly dividend of $0.10. Heritage Commerce’s dividend payout ratio is presently 70.97%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HTBK. Legal & General Group Plc increased its holdings in shares of Heritage Commerce by 20.4% in the 2nd quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 1,339 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Heritage Commerce by 471.6% in the 4th quarter. Meeder Asset Management Inc. now owns 8,100 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 6,683 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Heritage Commerce in the 3rd quarter valued at about $146,000. UBS Asset Management Americas Inc. purchased a new position in shares of Heritage Commerce in the 4th quarter valued at about $172,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Heritage Commerce in the 2nd quarter valued at about $175,000. Institutional investors and hedge funds own 70.20% of the company’s stock.
Several brokerages have weighed in on HTBK. Zacks Investment Research downgraded Heritage Commerce from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 17th. Brean Capital set a $18.00 price target on Heritage Commerce and gave the stock a “buy” rating in a report on Friday, January 12th. BidaskClub upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. ValuEngine downgraded Heritage Commerce from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. Finally, DA Davidson upgraded Heritage Commerce from a “neutral” rating to a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $17.25.
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About Heritage Commerce
Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
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