Heritage Commerce Corp (HTBK) to Issue Quarterly Dividend of $0.13 on August 22nd

Heritage Commerce Corp (NASDAQ:HTBK) declared a quarterly dividend on Thursday, July 25th, Zacks reports. Investors of record on Thursday, August 8th will be given a dividend of 0.13 per share by the financial services provider on Thursday, August 22nd. This represents a $0.52 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Thursday, August 8th.

Heritage Commerce has a dividend payout ratio of 64.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Heritage Commerce to earn $0.82 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 63.4%.

Heritage Commerce Stock Down 0.5 %

Shares of NASDAQ:HTBK traded down $0.05 during midday trading on Friday, hitting $10.66. 1,513,407 shares of the company’s stock traded hands, compared to its average volume of 429,297. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $652.99 million, a PE ratio of 11.59 and a beta of 0.94. The firm’s fifty day moving average price is $8.60 and its two-hundred day moving average price is $8.52. Heritage Commerce has a twelve month low of $7.66 and a twelve month high of $10.99.

Heritage Commerce (NASDAQ:HTBK) last posted its earnings results on Friday, April 26th. The financial services provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). The business had revenue of $59.60 million for the quarter, compared to analyst estimates of $43.83 million. Heritage Commerce had a net margin of 19.82% and a return on equity of 7.24%. On average, equities research analysts anticipate that Heritage Commerce will post 0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HTBK has been the topic of several recent research reports. StockNews.com lowered shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Piper Sandler boosted their price objective on shares of Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Heritage Commerce from $10.50 to $11.50 and gave the stock an “outperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Heritage Commerce presently has a consensus rating of “Hold” and a consensus target price of $11.13.

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.