Heritage Commerce Corp (NASDAQ:HTBK) EVP Sells $15,587.46 in Stock

Heritage Commerce Corp (NASDAQ:HTBK) EVP Susan Svensson Just sold 1,602 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.73, for a total value of $15,587.46. Following the sale, the executive vice president now owns 10,774 shares in the company, valued at approximately $104,831.02. The trade was a 12.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Heritage Commerce Price Performance

NASDAQ:HTBK opened at $9.49 on Friday. Heritage Commerce Corp has a 12 month low of $7.66 and a 12 month high of $11.27. The stock has a 50 day moving average of $9.83 and a two-hundred day moving average of $9.96. 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 firm has a market cap of $581.77 million, a P/E ratio of 14.38 and a beta of 0.92.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. On average, analysts expect that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.13 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.48%. Heritage Commerce’s dividend payout ratio (DPR) is presently 78.79%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HTBK. StockNews.com raised Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Stephens raised Heritage Commerce from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods decreased their price objective on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a report on Friday, January 24th.

Institutional Investors Weigh In On Heritage Commerce

Large investors have recently made changes to their positions in the stock. Quarry LP grew its position in shares of Heritage Commerce by 562.4% in the fourth quarter. Quarry LP now owns 3,153 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 2,677 shares in the last quarter. US Bancorp DE grew its position in Heritage Commerce by 64.8% in the fourth quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 1,365 shares during the period. FMR LLC grew its position in Heritage Commerce by 103.7% in the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 3,987 shares during the period. Two Sigma Securities LLC purchased a new position in Heritage Commerce in the fourth quarter worth approximately $97,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Heritage Commerce in the fourth quarter worth approximately $99,000. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

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.