Heritage Commerce Corp. (NASDAQ:HTBK) Director Robert Moles sold 40,000 shares of the company’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $13.39, for a total value of $535,600.00. Following the completion of the transaction, the director now directly owns 41,782 shares in the company, valued at $559,460.98. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of NASDAQ HTBK opened at $14.43 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11. Heritage Commerce Corp. has a one year low of $10.84 and a one year high of $18.10. The firm has a market capitalization of $624.53 million, a price-to-earnings ratio of 13.61, a PEG ratio of 1.66 and a beta of 0.87.
Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Thursday, January 24th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. The company had revenue of $35.45 million for the quarter, compared to analyst estimates of $35.17 million. Heritage Commerce had a return on equity of 13.49% and a net margin of 25.34%. Equities analysts forecast that Heritage Commerce Corp. will post 1.22 earnings per share for the current fiscal year.
HTBK has been the topic of a number of research reports. ValuEngine lowered Heritage Commerce from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. Zacks Investment Research lowered Heritage Commerce from a “hold” rating to a “sell” rating in a report on Saturday, January 19th. BidaskClub raised Heritage Commerce from a “strong sell” rating to a “sell” rating in a report on Saturday, January 5th. Finally, Brean Capital reaffirmed a “buy” rating on shares of Heritage Commerce in a report on Monday, October 29th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $18.25.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HTBK. Acadian Asset Management LLC acquired a new stake in shares of Heritage Commerce during the 4th quarter worth $25,000. Legal & General Group Plc grew its holdings in shares of Heritage Commerce by 12.8% during the 4th quarter. Legal & General Group Plc now owns 7,135 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 811 shares in the last quarter. Meeder Asset Management Inc. grew its holdings 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 worth $106,000 after purchasing an additional 3,549 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of Heritage Commerce by 333.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,780 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 9,829 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new stake in shares of Heritage Commerce during the 3rd quarter worth $161,000. 71.22% of the stock is currently owned by institutional investors.
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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. 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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