Heritage Commerce Corp. (NASDAQ:HTBK) Director Jason Philip Dinapoli bought 5,000 shares of the stock in a transaction dated Friday, June 7th. The shares were purchased at an average price of $12.01 per share, for a total transaction of $60,050.00. Following the purchase, the director now owns 22,261 shares of the company’s stock, valued at approximately $267,354.61. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Heritage Commerce stock traded down $0.06 during mid-day trading on Wednesday, reaching $12.19. 1,315 shares of the company were exchanged, compared to its average volume of 159,562. Heritage Commerce Corp. has a 12 month low of $10.84 and a 12 month high of $17.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market cap of $517.29 million, a PE ratio of 11.46, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86.
Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.28 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.28. Heritage Commerce had a return on equity of 13.01% and a net margin of 26.62%. The firm had revenue of $33.51 million for the quarter, compared to analyst estimates of $35.23 million. Sell-side analysts expect that Heritage Commerce Corp. will post 1.16 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, May 8th. This represents a $0.48 dividend on an annualized basis and a yield of 3.94%. Heritage Commerce’s dividend payout ratio (DPR) is presently 45.28%.
A number of brokerages have recently weighed in on HTBK. Zacks Investment Research lowered Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Thursday, May 2nd. ValuEngine lowered Heritage Commerce from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 20th. Brean Capital lowered Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Finally, BidaskClub upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $16.33.
A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in shares of Heritage Commerce by 3.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 245,067 shares of the financial services provider’s stock valued at $3,656,000 after purchasing an additional 8,302 shares during the last quarter. Morgan Stanley raised its position in shares of Heritage Commerce by 11.3% in the 3rd quarter. Morgan Stanley now owns 531,143 shares of the financial services provider’s stock worth $7,924,000 after acquiring an additional 53,946 shares in the last quarter. Vanguard Group Inc. increased its position in Heritage Commerce by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,816,670 shares of the financial services provider’s stock valued at $27,105,000 after buying an additional 40,494 shares in the last quarter. Rhumbline Advisers increased its position in Heritage Commerce by 49.0% in the 4th quarter. Rhumbline Advisers now owns 51,784 shares of the financial services provider’s stock valued at $587,000 after buying an additional 17,022 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Heritage Commerce by 1.1% in the 4th quarter. Victory Capital Management Inc. now owns 89,569 shares of the financial services provider’s stock valued at $1,016,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 74.66% of the company’s stock.
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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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