Jack W. Conner Sells 4,000 Shares of Heritage Commerce Corp (NASDAQ:HTBK) Stock

Heritage Commerce Corp (NASDAQ:HTBK) Director Jack W. Conner sold 4,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $10.52, for a total value of $42,080.00. Following the completion of the sale, the director now directly owns 108,512 shares in the company, valued at approximately $1,141,546.24. The trade was a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Heritage Commerce Stock Down 1.9 %

NASDAQ:HTBK traded down $0.21 on Monday, reaching $10.41. 287,001 shares of the stock traded hands, compared to its average volume of 404,302. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $637.86 million, a price-to-earnings ratio of 15.77 and a beta of 0.96. Heritage Commerce Corp has a 12 month low of $7.66 and a 12 month high of $11.27. The company’s fifty day simple moving average is $9.76 and its 200 day simple moving average is $9.96.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share 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%. Equities analysts predict that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, February 6th. This represents a $0.52 annualized dividend and a yield of 5.00%. Heritage Commerce’s dividend payout ratio (DPR) is presently 78.79%.

Institutional Trading of Heritage Commerce

A number of hedge funds and other institutional investors have recently bought and sold shares of HTBK. Wealth Enhancement Advisory Services LLC grew its stake in shares of Heritage Commerce by 27.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider’s stock valued at $161,000 after acquiring an additional 3,529 shares during the period. GSA Capital Partners LLP raised its holdings in Heritage Commerce by 49.4% during the third quarter. GSA Capital Partners LLP now owns 127,528 shares of the financial services provider’s stock valued at $1,260,000 after acquiring an additional 42,167 shares during the period. Empowered Funds LLC lifted its position in shares of Heritage Commerce by 5.3% in the third quarter. Empowered Funds LLC now owns 150,733 shares of the financial services provider’s stock valued at $1,489,000 after acquiring an additional 7,638 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Heritage Commerce in the third quarter worth about $116,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Heritage Commerce by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 496,190 shares of the financial services provider’s stock worth $4,902,000 after acquiring an additional 6,884 shares during the period. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Wall Street Analyst Weigh In

HTBK has been the topic of a number of recent research reports. Stephens upgraded shares of Heritage Commerce from an “equal weight” rating to an “overweight” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods cut their price target on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th.

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.