Jack W. Conner Buys 2,828 Shares of Heritage Commerce Corp. (HTBK) Stock

Heritage Commerce Corp. (NASDAQ:HTBK) Director Jack W. Conner bought 2,828 shares of the company’s stock in a transaction dated Tuesday, December 4th. The shares were purchased at an average cost of $13.67 per share, with a total value of $38,658.76. Following the acquisition, the director now directly owns 74,106 shares of the company’s stock, valued at approximately $1,013,029.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

HTBK stock opened at $13.27 on Friday. The stock has a market capitalization of $576.05 million, a P/E ratio of 16.59, a P/E/G ratio of 1.94 and a beta of 0.46. Heritage Commerce Corp. has a 52 week low of $12.57 and a 52 week high of $18.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.70 and a quick ratio of 0.70.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.01. The business had revenue of $34.66 million during the quarter, compared to the consensus estimate of $34.56 million. Heritage Commerce had a return on equity of 12.45% and a net margin of 17.74%. On average, sell-side analysts predict that Heritage Commerce Corp. will post 0.98 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Monday, November 5th. Heritage Commerce’s dividend payout ratio (DPR) is presently 55.00%.

A number of equities research analysts have recently weighed in on the company. Brean Capital reissued a “buy” rating on shares of Heritage Commerce in a report on Sunday, September 30th. BidaskClub downgraded Heritage Commerce from a “sell” rating to a “strong sell” rating in a report on Saturday, September 15th. Finally, ValuEngine downgraded Heritage Commerce from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. Three investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $18.50.

A number of hedge funds have recently bought and sold shares of HTBK. First Trust Advisors LP raised its stake in Heritage Commerce by 30.7% during the second quarter. First Trust Advisors LP now owns 103,996 shares of the financial services provider’s stock worth $1,767,000 after acquiring an additional 24,413 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Heritage Commerce by 10.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 194,303 shares of the financial services provider’s stock worth $3,302,000 after buying an additional 17,853 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Heritage Commerce by 446.8% during the 2nd quarter. Bank of America Corp DE now owns 161,283 shares of the financial services provider’s stock worth $2,740,000 after buying an additional 131,787 shares in the last quarter. Stieven Capital Advisors L.P. bought a new position in shares of Heritage Commerce during the 3rd quarter worth approximately $4,900,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Heritage Commerce by 36.0% during the 2nd quarter. Renaissance Technologies LLC now owns 788,900 shares of the financial services provider’s stock worth $13,403,000 after buying an additional 208,700 shares in the last quarter. 73.77% of the stock is owned by institutional investors and hedge funds.

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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. 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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Insider Buying and Selling by Quarter for Heritage Commerce (NASDAQ:HTBK)

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