Susan Svensson Just Sells 1,602 Shares of Heritage Commerce Corp (NASDAQ:HTBK) Stock

Heritage Commerce Corp (NASDAQ:HTBK) EVP Susan Svensson Just sold 1,602 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was 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 $104,831.02. This trade represents a 12.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Heritage Commerce Trading Up 1.0 %

NASDAQ:HTBK opened at $9.54 on Thursday. The business’s 50-day moving average is $9.83 and its two-hundred day moving average is $9.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. Heritage Commerce Corp has a 12 month low of $7.66 and a 12 month high of $11.27. The firm has a market capitalization of $584.83 million, a PE ratio of 14.45 and a beta of 0.92.

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

Heritage Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date was Thursday, February 6th. Heritage Commerce’s payout ratio is 78.79%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Heritage Commerce

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp increased its position in shares of Heritage Commerce by 3.2% during the third 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. Barclays PLC increased its holdings in Heritage Commerce by 7.2% in the third quarter. Barclays PLC now owns 216,439 shares of the financial services provider’s stock valued at $2,139,000 after buying an additional 14,466 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Heritage Commerce by 58.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider’s stock valued at $4,350,000 after buying an additional 170,989 shares during the last quarter. Jane Street Group LLC increased its holdings in Heritage Commerce by 55.6% in the third quarter. Jane Street Group LLC now owns 103,596 shares of the financial services provider’s stock valued at $1,024,000 after buying an additional 36,997 shares during the last quarter. Finally, FMR LLC increased its holdings in Heritage Commerce by 103.7% in the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock valued at $77,000 after buying an additional 3,987 shares during the last quarter. 75.55% of the stock is 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.