Heritage Commerce (NASDAQ:HTBK) Sets New 1-Year High – Here’s What Happened

Heritage Commerce Corp (NASDAQ:HTBK)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $11.21 and last traded at $11.15, with a volume of 19850 shares. The stock had previously closed at $10.91.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Tuesday.

Heritage Commerce Price Performance

The company has a fifty day simple moving average of $10.03 and a 200-day simple moving average of $9.42. The company has a market cap of $657.75 million, a P/E ratio of 15.11 and a beta of 0.93. 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 (NASDAQ:HTBK) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. Heritage Commerce had a return on equity of 6.37% and a net margin of 17.61%. The company had revenue of $63.68 million for the quarter, compared to analyst estimates of $43.14 million. On average, sell-side analysts predict that Heritage Commerce Corp will post 0.66 earnings per share for the current year.

Heritage Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend was Thursday, November 7th. Heritage Commerce’s dividend payout ratio (DPR) is currently 73.24%.

Institutional Investors Weigh In On Heritage Commerce

Hedge funds have recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Heritage Commerce during the 3rd quarter valued at $73,000. FMR LLC lifted its stake in Heritage Commerce by 103.7% in the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 3,987 shares in the last quarter. CWM LLC boosted its position in Heritage Commerce by 148.0% during the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 5,929 shares during the period. ProShare Advisors LLC purchased a new position in Heritage Commerce during the 1st quarter valued at about $91,000. Finally, One Wealth Advisors LLC acquired a new position in shares of Heritage Commerce in the 3rd quarter valued at about $99,000. Hedge funds and other institutional investors own 75.55% 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. 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.