Heritage Commerce Corp. (NASDAQ:HTBK) Director Acquires $60,050.00 in Stock

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.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2019/06/12/heritage-commerce-corp-nasdaqhtbk-director-acquires-60050-00-in-stock.html.

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.

See Also: The primary rules of Elliott Wave theory

Insider Buying and Selling by Quarter for Heritage Commerce (NASDAQ:HTBK)

Receive News & Ratings for Heritage Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heritage Commerce and related companies with MarketBeat.com's FREE daily email newsletter.