Heritage Commerce Corp. (NASDAQ:HTBK) Director Jack W. Conner acquired 7,879 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were bought at an average cost of $12.24 per share, for a total transaction of $96,438.96. Following the completion of the acquisition, the director now owns 85,432 shares of the company’s stock, valued at $1,045,687.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of NASDAQ:HTBK traded up $0.26 during midday trading on Friday, hitting $12.22. The company’s stock had a trading volume of 11,680 shares, compared to its average volume of 156,203. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.10. The company has a market cap of $531.58 million, a P/E ratio of 11.55, a P/E/G ratio of 1.51 and a beta of 0.87. Heritage Commerce Corp. has a 12-month low of $10.84 and a 12-month high of $18.10.
Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.28 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. The firm had revenue of $33.51 million for the quarter, compared to the consensus estimate of $35.23 million. Heritage Commerce had a net margin of 26.62% and a return on equity of 13.01%. On average, analysts expect that Heritage Commerce Corp. will post 1.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend was Wednesday, May 8th. Heritage Commerce’s dividend payout ratio is currently 45.28%.
Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in shares of Heritage Commerce in the fourth quarter worth about $25,000. Marshall Wace North America L.P. purchased a new position in shares of Heritage Commerce in the first quarter worth about $56,000. Legal & General Group Plc increased its position in Heritage Commerce by 12.8% during the fourth quarter. Legal & General Group Plc now owns 7,135 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 811 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Heritage Commerce by 63,869.2% during the first quarter. BNP Paribas Arbitrage SA now owns 8,316 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 8,303 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its position in Heritage Commerce by 333.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,780 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 9,829 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.
HTBK has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a report on Friday, January 25th. BidaskClub downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. ValuEngine downgraded shares of Heritage Commerce from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 20th. Finally, Brean Capital reissued a “buy” rating on shares of Heritage Commerce in a research note on Tuesday, February 26th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $16.33.
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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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