Heritage Commerce Corp (NASDAQ:HTBK) to Issue Quarterly Dividend of $0.13

Heritage Commerce Corp (NASDAQ:HTBK) announced a quarterly dividend on Thursday, January 23rd,RTT News reports. Shareholders of record on Thursday, February 6th will be given a dividend of 0.13 per share by the financial services provider on Thursday, February 20th. This represents a $0.52 annualized dividend and a yield of 5.66%.

Heritage Commerce has a payout ratio of 63.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Heritage Commerce to earn $0.72 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 72.2%.

Heritage Commerce Stock Performance

Shares of NASDAQ:HTBK traded up $0.07 on Thursday, hitting $9.19. The company had a trading volume of 309,596 shares, compared to its average volume of 318,769. The stock has a 50 day moving average price of $9.89 and a 200 day moving average price of $9.87. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. The stock has a market cap of $563.35 million, a price-to-earnings ratio of 12.94 and a beta of 0.96. Heritage Commerce has a 1-year low of $7.66 and a 1-year high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. Analysts expect that Heritage Commerce will post 0.66 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th.

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.