Heritage Commerce (HTBK) Hits New 12-Month Low at $13.65

Heritage Commerce Corp. (NASDAQ:HTBK) reached a new 52-week low during trading on Tuesday . The company traded as low as $13.65 and last traded at $13.54, with a volume of 6480 shares traded. The stock had previously closed at $14.23.

HTBK has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Heritage Commerce from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 8th. Brean Capital reissued a “buy” rating on shares of Heritage Commerce in a research report on Monday, August 27th. Finally, ValuEngine downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. Three investment analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $18.50.

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $618.46 million, a PE ratio of 16.56, a price-to-earnings-growth ratio of 2.08 and a beta of 0.46.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Heritage Commerce had a net margin of 17.74% and a return on equity of 12.45%. The firm had revenue of $34.66 million during the quarter, compared to the consensus estimate of $34.56 million. As a group, equities analysts anticipate that Heritage Commerce Corp. will post 0.98 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, November 5th. Heritage Commerce’s payout ratio is 55.00%.

In other news, Director Jason Philip Dinapoli bought 10,000 shares of the stock in a transaction that occurred on Tuesday, October 30th. The shares were bought at an average price of $14.69 per share, for a total transaction of $146,900.00. Following the purchase, the director now owns 20,000 shares in the company, valued at $293,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Keith Wilton sold 5,649 shares of Heritage Commerce stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $14.36, for a total transaction of $81,119.64. Following the transaction, the chief operating officer now owns 94,058 shares in the company, valued at approximately $1,350,672.88. The disclosure for this sale can be found here. In the last three months, insiders have bought 22,173 shares of company stock valued at $322,049. Insiders own 5.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its stake in shares of Heritage Commerce by 100.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,088 shares of the financial services provider’s stock valued at $106,000 after buying an additional 3,549 shares in the last quarter. Stevens Capital Management LP purchased a new position in shares of Heritage Commerce during the 3rd quarter valued at $161,000. Engineers Gate Manager LP purchased a new position in shares of Heritage Commerce during the 2nd quarter valued at $241,000. MetLife Investment Advisors LLC lifted its stake in shares of Heritage Commerce by 55.1% during the 3rd quarter. MetLife Investment Advisors LLC now owns 27,683 shares of the financial services provider’s stock valued at $413,000 after buying an additional 9,829 shares in the last quarter. Finally, Globeflex Capital L P lifted its stake in shares of Heritage Commerce by 18.3% during the 2nd quarter. Globeflex Capital L P now owns 32,900 shares of the financial services provider’s stock valued at $559,000 after buying an additional 5,100 shares in the last quarter. Institutional investors own 73.77% of the company’s stock.

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Heritage Commerce Company Profile (NASDAQ:HTBK)

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. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.

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