Heritage Commerce Corp (NASDAQ:HTBK – Get Free Report) declared a quarterly dividend on Thursday, July 25th, Zacks reports. Stockholders of record on Thursday, August 8th will be given a dividend of 0.13 per share by the financial services provider on Thursday, August 22nd. This represents a $0.52 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend is Thursday, August 8th.
Heritage Commerce has a payout ratio of 64.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Heritage Commerce to earn $0.82 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 63.4%.
Heritage Commerce Stock Performance
Shares of NASDAQ HTBK opened at $10.66 on Friday. The company has a market cap of $652.99 million, a P/E ratio of 11.59 and a beta of 0.94. Heritage Commerce has a 52-week low of $7.66 and a 52-week high of $10.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The firm’s fifty day moving average is $8.60 and its two-hundred day moving average is $8.52.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the company. Piper Sandler upped their price objective on Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday. StockNews.com cut shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.13.
Check Out Our Latest Report on HTBK
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. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.
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