Insider Selling: Heritage Commerce Corp (NASDAQ:HTBK) EVP Sells 1,602 Shares of Stock

Heritage Commerce Corp (NASDAQ:HTBK) EVP Susan Svensson Just sold 1,602 shares of Heritage Commerce stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.73, for a total value of $15,587.46. Following the completion of the transaction, the executive vice president now owns 10,774 shares of the company’s stock, valued at approximately $104,831.02. The trade was a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Heritage Commerce Price Performance

Shares of NASDAQ:HTBK opened at $9.54 on Thursday. Heritage Commerce Corp has a 12 month low of $7.66 and a 12 month high of $11.27. The stock has a market cap of $584.83 million, a price-to-earnings ratio of 14.45 and a beta of 0.92. The stock’s 50 day moving average price is $9.83 and its 200 day moving average price 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 (NASDAQ:HTBK) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. Equities research analysts anticipate that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.52 annualized dividend and a dividend yield of 5.45%. Heritage Commerce’s dividend payout ratio is currently 78.79%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Heritage Commerce by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,920 shares of the financial services provider’s stock valued at $318,000 after buying an additional 1,115 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Heritage Commerce by 3.5% in the fourth quarter. First Trust Advisors LP now owns 38,379 shares of the financial services provider’s stock valued at $360,000 after buying an additional 1,297 shares in the last quarter. Franklin Resources Inc. raised its stake in Heritage Commerce by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 46,089 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 1,302 shares during the period. US Bancorp DE raised its stake in Heritage Commerce by 64.8% during the 4th quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,365 shares during the period. Finally, Princeton Capital Management LLC raised its stake in Heritage Commerce by 13.3% during the 4th quarter. Princeton Capital Management LLC now owns 17,041 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 75.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on HTBK shares. StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods reduced their price objective on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, Stephens upgraded Heritage Commerce from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 3rd.

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.