Shares of Heritage Commerce Corp. (NASDAQ:HTBK) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation. Heritage Commerce’s rating score has improved by 50% in the last 90 days as a result of various analysts’ ratings changes.
Brokerages have set a one year consensus price objective of $17.17 for the company and are expecting that the company will post $0.25 EPS for the current quarter, according to Zacks. Zacks has also given Heritage Commerce an industry rank of 70 out of 265 based on the ratings given to its competitors.
A number of equities research analysts have issued reports on HTBK shares. Zacks Investment Research downgraded Heritage Commerce from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. BidaskClub downgraded Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Brean Capital reissued a “buy” rating on shares of Heritage Commerce in a research report on Tuesday, January 2nd. DA Davidson raised Heritage Commerce from a “neutral” rating to a “buy” rating in a research report on Monday, February 12th. Finally, ValuEngine downgraded Heritage Commerce from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th.
Shares of Heritage Commerce (HTBK) opened at $16.07 on Wednesday. The company has a market capitalization of $621.53, a price-to-earnings ratio of 25.92, a PEG ratio of 1.60 and a beta of 0.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.77 and a quick ratio of 0.76. Heritage Commerce has a 1 year low of $12.76 and a 1 year high of $16.80.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Wednesday, February 7th. This is a boost from Heritage Commerce’s previous quarterly dividend of $0.10. Heritage Commerce’s payout ratio is currently 70.97%.
In other Heritage Commerce news, Director Jack W. Conner sold 24,500 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $15.47, for a total transaction of $379,015.00. Following the transaction, the director now owns 83,324 shares in the company, valued at $1,289,022.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.69% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. MetLife Investment Advisors LLC acquired a new position in shares of Heritage Commerce during the fourth quarter worth about $274,000. Millennium Management LLC lifted its stake in shares of Heritage Commerce by 237.4% during the fourth quarter. Millennium Management LLC now owns 613,489 shares of the financial services provider’s stock worth $9,399,000 after purchasing an additional 431,652 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of Heritage Commerce by 7.3% during the fourth quarter. Two Sigma Investments LP now owns 98,542 shares of the financial services provider’s stock worth $1,510,000 after purchasing an additional 6,693 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Heritage Commerce by 95.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 77,538 shares of the financial services provider’s stock worth $1,188,000 after purchasing an additional 37,947 shares in the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new position in shares of Heritage Commerce during the fourth quarter worth about $728,000. Institutional investors own 67.85% of the company’s stock.
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Heritage Commerce Company Profile
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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