Heritage Commerce Corp (NASDAQ:HTBK) Director Sells $61,940.48 in Stock

Heritage Commerce Corp (NASDAQ:HTBKGet Free Report) Director Jack W. Conner sold 6,944 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $8.92, for a total transaction of $61,940.48. Following the completion of the sale, the director now owns 102,501 shares of the company’s stock, valued at approximately $914,308.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Heritage Commerce Price Performance

NASDAQ:HTBK opened at $8.53 on Friday. Heritage Commerce Corp has a 52 week low of $6.69 and a 52 week high of $12.69. The stock’s fifty day moving average is $9.40 and its two-hundred day moving average is $8.98. The company has a market capitalization of $521.10 million, a P/E ratio of 8.05 and a beta of 0.92. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.06.

Heritage Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date of this dividend is Wednesday, February 7th. Heritage Commerce’s dividend payout ratio is presently 49.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler increased their price target on Heritage Commerce from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Keefe, Bruyette & Woods cut their target price on Heritage Commerce from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. StockNews.com cut shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Finally, Raymond James raised their price objective on shares of Heritage Commerce from $9.50 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Heritage Commerce presently has an average rating of “Hold” and a consensus price target of $10.75.

View Our Latest Report on Heritage Commerce

Hedge Funds Weigh In On Heritage Commerce

A number of hedge funds and other institutional investors have recently bought and sold shares of HTBK. Captrust Financial Advisors lifted its holdings in Heritage Commerce by 132.4% during the 2nd quarter. Captrust Financial Advisors now owns 3,596 shares of the financial services provider’s stock worth $38,000 after buying an additional 2,049 shares in the last quarter. Signaturefd LLC raised its stake in shares of Heritage Commerce by 279.6% in the second quarter. Signaturefd LLC now owns 5,140 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 3,786 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Heritage Commerce by 47.7% in the fourth quarter. Lindbrook Capital LLC now owns 4,780 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,543 shares during the period. GAMMA Investing LLC acquired a new position in Heritage Commerce during the 4th quarter worth $49,000. Finally, Great West Life Assurance Co. Can increased its holdings in Heritage Commerce by 35.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 6,253 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 1,646 shares during the period. 72.80% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Commerce Company Profile

(Get Free Report)

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.

Further Reading

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