Heritage Commerce Corp (HTBK) to Issue Quarterly Dividend of $0.13 on November 21st

Heritage Commerce Corp (NASDAQ:HTBK) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Thursday, November 7th will be given a dividend of 0.13 per share by the financial services provider on Thursday, November 21st. This represents a $0.52 annualized dividend and a yield of 5.44%. The ex-dividend date is Thursday, November 7th.

Heritage Commerce has a payout ratio of 73.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Heritage Commerce to earn $0.74 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 70.3%.

Heritage Commerce Stock Down 0.9 %

Shares of NASDAQ HTBK opened at $9.56 on Tuesday. Heritage Commerce has a 1 year low of $7.66 and a 1 year high of $10.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $585.93 million, a price-to-earnings ratio of 13.46 and a beta of 0.93. The business has a 50-day moving average of $9.84 and a two-hundred day moving average of $9.15.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Heritage Commerce had a return on equity of 6.39% and a net margin of 17.61%. The firm had revenue of $63.68 million during the quarter, compared to the consensus estimate of $43.14 million. On average, analysts forecast that Heritage Commerce will post 0.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. StockNews.com cut Heritage Commerce from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Keefe, Bruyette & Woods increased their target price on Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Piper Sandler increased their target price on Heritage Commerce from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, July 26th.

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.