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 Heritage Commerce stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $10.52, for a total value of $42,080.00. Following the transaction, the director now owns 108,512 shares of the company’s stock, valued at $1,141,546.24. The trade was a 3.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Heritage Commerce Stock Down 3.2 %

HTBK stock opened at $10.12 on Wednesday. Heritage Commerce Corp has a 1-year low of $7.66 and a 1-year high of $11.27. The business has a fifty day moving average price of $9.78 and a 200-day moving average price of $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. The stock has a market capitalization of $620.39 million, a P/E ratio of 15.33 and a beta of 0.96.

Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. Equities analysts forecast that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.52 annualized dividend and a yield of 5.14%. Heritage Commerce’s payout ratio is presently 78.79%.

Hedge Funds Weigh In On Heritage Commerce

Several institutional investors and hedge funds have recently bought and sold shares of HTBK. State Street Corp boosted its holdings in Heritage Commerce by 3.2% in the 3rd quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock worth $19,421,000 after buying an additional 61,630 shares during the period. Barclays PLC boosted its holdings in shares of Heritage Commerce by 7.2% during the 3rd quarter. Barclays PLC now owns 216,439 shares of the financial services provider’s stock valued at $2,139,000 after purchasing an additional 14,466 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Heritage Commerce by 58.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider’s stock valued at $4,350,000 after purchasing an additional 170,989 shares in the last quarter. Jane Street Group LLC increased its stake in Heritage Commerce by 55.6% in the 3rd quarter. Jane Street Group LLC now owns 103,596 shares of the financial services provider’s stock worth $1,024,000 after acquiring an additional 36,997 shares during the last quarter. Finally, FMR LLC raised its stake in Heritage Commerce by 103.7% during the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 3,987 shares in the last quarter. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HTBK shares. Stephens raised Heritage Commerce from an “equal weight” rating to an “overweight” rating in a research report on Friday, February 7th. StockNews.com upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating on the stock in a research note on Friday, January 24th.

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.