Heritage Commerce (NASDAQ:HTBK) Sets New 52-Week High – Time to Buy?

Shares of Heritage Commerce Corp (NASDAQ:HTBK) reached a new 52-week high on Monday . The stock traded as high as $11.21 and last traded at $11.15, with a volume of 19850 shares traded. The stock had previously closed at $10.91.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Monday, November 18th.

Heritage Commerce Price Performance

The business’s 50 day moving average is $10.01 and its two-hundred day moving average is $9.40. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market capitalization of $676.79 million, a PE ratio of 15.37 and a beta of 0.93.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $63.68 million for the quarter, compared to analysts’ expectations of $43.14 million. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. Equities research analysts anticipate that Heritage Commerce Corp will post 0.66 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.52 annualized dividend and a yield of 4.71%. Heritage Commerce’s dividend payout ratio is currently 73.24%.

Institutional Trading of Heritage Commerce

Several institutional investors and hedge funds have recently bought and sold shares of HTBK. Vanguard Group Inc. increased its holdings in shares of Heritage Commerce by 3.9% in the first quarter. Vanguard Group Inc. now owns 3,309,141 shares of the financial services provider’s stock worth $28,392,000 after purchasing an additional 123,973 shares during the period. Wellington Management Group LLP bought a new position in Heritage Commerce in the 3rd quarter worth about $20,093,000. State Street Corp increased its stake in Heritage Commerce by 3.2% in the 3rd quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock worth $19,421,000 after acquiring an additional 61,630 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Heritage Commerce by 830.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,024,377 shares of the financial services provider’s stock valued at $8,912,000 after acquiring an additional 914,249 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Heritage Commerce by 21.2% during the 2nd quarter. American Century Companies Inc. now owns 921,389 shares of the financial services provider’s stock valued at $8,016,000 after acquiring an additional 160,977 shares during the last quarter. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

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.