Heritage Commerce Corp (HTBK) To Go Ex-Dividend on November 7th

Heritage Commerce Corp (NASDAQ:HTBK) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Thursday, November 7th will be given a dividend of 0.13 per share by the financial services provider on Thursday, November 21st. This represents a $0.52 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend is Thursday, November 7th.

Heritage Commerce has a dividend payout ratio of 72.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Heritage Commerce to earn $0.74 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 70.3%.

Heritage Commerce Trading Down 1.9 %

Shares of NASDAQ:HTBK traded down $0.18 during midday trading on Friday, reaching $9.51. The company’s stock had a trading volume of 255,574 shares, compared to its average volume of 300,651. The firm has a 50 day moving average price of $9.83 and a two-hundred day moving average price of $9.07. Heritage Commerce has a fifty-two week low of $7.66 and a fifty-two week high of $10.99. The firm has a market capitalization of $582.87 million, a price-to-earnings ratio of 11.89 and a beta of 0.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). The company had revenue of $61.35 million for the quarter, compared to analyst estimates of $43.35 million. Heritage Commerce had a net margin of 19.82% and a return on equity of 7.21%. As a group, analysts forecast that Heritage Commerce will post 0.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a research report on Friday, July 26th. StockNews.com lowered Heritage Commerce from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Finally, Piper Sandler lifted their target price on shares of Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th.

Heritage Commerce Company Profile

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.