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

Heritage Commerce Corp (NASDAQ:HTBK) declared a quarterly dividend on Thursday, January 23rd,RTT News reports. Investors 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 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Thursday, February 6th.

Heritage Commerce has a payout ratio of 63.4% meaning 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 Price Performance

Shares of Heritage Commerce stock opened at $9.54 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $584.80 million, a price-to-earnings ratio of 13.44 and a beta of 0.96. The company has a 50-day simple moving average of $9.84 and a two-hundred day simple moving average of $9.87. Heritage Commerce has a twelve month low of $7.66 and a twelve month high of $11.27.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HTBK. Keefe, Bruyette & Woods reduced their target price on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a research report on Friday. StockNews.com raised shares of 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.