BidaskClub upgraded shares of Heritage Commerce (NASDAQ:HTBK) from a sell rating to a hold rating in a research report sent to investors on Monday, February 25th.
Other research analysts have also recently issued reports about the company. Brean Capital reaffirmed a buy rating on shares of Heritage Commerce in a research note on Monday, October 29th. Zacks Investment Research cut Heritage Commerce from a hold rating to a sell rating in a research note on Tuesday, January 8th. Finally, ValuEngine lowered shares of Heritage Commerce from a hold rating to a sell rating in a report on Tuesday, November 6th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Heritage Commerce presently has an average rating of Hold and an average target price of $18.00.
Shares of NASDAQ:HTBK traded down $0.66 during trading on Monday, hitting $11.57. 157,396 shares of the company were exchanged, compared to its average volume of 118,334. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.72 and a quick ratio of 0.72. Heritage Commerce has a 52-week low of $10.84 and a 52-week high of $18.10. The company has a market cap of $529.55 million, a P/E ratio of 10.92, a P/E/G ratio of 1.44 and a beta of 0.90.
Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Thursday, January 24th. The financial services provider reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. Heritage Commerce had a return on equity of 13.05% and a net margin of 25.34%. The business had revenue of $35.45 million for the quarter, compared to analysts’ expectations of $35.17 million. On average, analysts expect that Heritage Commerce will post 1.22 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 21st. Stockholders of record on Thursday, February 7th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.15%. This is a positive change from Heritage Commerce’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 6th. Heritage Commerce’s dividend payout ratio (DPR) is presently 45.28%.
In other news, CEO Walter Theodore Kaczmarek sold 40,500 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $13.50, for a total transaction of $546,750.00. Following the sale, the chief executive officer now directly owns 74,427 shares in the company, valued at approximately $1,004,764.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack W. Conner bought 3,500 shares of the firm’s stock in a transaction dated Thursday, January 31st. The shares were acquired at an average price of $12.99 per share, for a total transaction of $45,465.00. Following the completion of the transaction, the director now directly owns 82,606 shares in the company, valued at approximately $1,073,051.94. The disclosure for this purchase can be found here. 5.40% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of HTBK. BlackRock Inc. grew its stake in Heritage Commerce by 2.2% in the 3rd quarter. BlackRock Inc. now owns 3,449,386 shares of the financial services provider’s stock worth $51,465,000 after acquiring an additional 74,188 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Heritage Commerce by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,221,513 shares of the financial services provider’s stock valued at $25,192,000 after acquiring an additional 76,529 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Heritage Commerce by 35.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 2,091,730 shares of the financial services provider’s stock valued at $23,720,000 after acquiring an additional 551,316 shares during the last quarter. Vanguard Group Inc. lifted its position in Heritage Commerce by 2.3% during the third quarter. Vanguard Group Inc. now owns 1,816,670 shares of the financial services provider’s stock valued at $27,105,000 after acquiring an additional 40,494 shares during the last quarter. Finally, Vanguard Group Inc lifted its position in Heritage Commerce by 2.3% during the third quarter. Vanguard Group Inc now owns 1,816,670 shares of the financial services provider’s stock valued at $27,105,000 after acquiring an additional 40,494 shares during the last quarter. Institutional investors own 73.48% of the company’s stock.
Heritage Commerce Company Profile
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. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.
See Also: Systematic Risk
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