News articles about Heritage Commerce (NASDAQ:HTBK) have trended somewhat positive recently, according to Accern. The research group rates the sentiment of news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Heritage Commerce earned a coverage optimism score of 0.05 on Accern’s scale. Accern also gave news articles about the financial services provider an impact score of 46.3438655616307 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
HTBK has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Heritage Commerce from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 17th. BidaskClub downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Brean Capital restated a “buy” rating and set a $17.50 target price on shares of Heritage Commerce in a report on Monday, January 29th. DA Davidson upgraded shares of Heritage Commerce from a “neutral” rating to a “buy” rating in a report on Monday, February 12th. Finally, Keefe, Bruyette & Woods upgraded shares of Heritage Commerce from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.50.
HTBK stock traded up $0.12 during mid-day trading on Thursday, hitting $16.93. 2,503 shares of the company were exchanged, compared to its average volume of 136,916. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $675.89 million, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 1.67 and a beta of 0.59. Heritage Commerce has a 1-year low of $16.74 and a 1-year high of $16.88.
Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Thursday, April 26th. The financial services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The company had revenue of $28.54 million for the quarter, compared to analyst estimates of $29.45 million. Heritage Commerce had a return on equity of 12.22% and a net margin of 21.93%. analysts forecast that Heritage Commerce will post 1 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 24th. Shareholders of record on Thursday, May 10th will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, May 9th. This represents a $0.44 annualized dividend and a yield of 2.60%. Heritage Commerce’s dividend payout ratio (DPR) is currently 55.00%.
In other Heritage Commerce news, Director Jack W. Conner sold 23,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $16.98, for a total transaction of $390,540.00. Following the sale, the director now directly owns 61,812 shares in the company, valued at approximately $1,049,567.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.40% of the company’s stock.
About Heritage Commerce
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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