John M. Eggemeyer III Sells 1,786,744 Shares of Heritage Commerce Corp. (HTBK) Stock
Heritage Commerce Corp. (NASDAQ:HTBK) Director John M. Eggemeyer III sold 1,786,744 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $11.76, for a total transaction of $21,012,109.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Heritage Commerce Corp. (NASDAQ:HTBK) traded up 2.30% during mid-day trading on Friday, reaching $12.43. 1,206,808 shares of the company traded hands. The stock has a market capitalization of $471.28 million, a price-to-earnings ratio of 19.09 and a beta of 0.64. Heritage Commerce Corp. has a 52-week low of $8.84 and a 52-week high of $12.44. The company’s 50 day moving average is $11.06 and its 200 day moving average is $10.91.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Friday, November 4th. Heritage Commerce Corp.’s payout ratio is 55.39%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC boosted its position in shares of Heritage Commerce Corp. by 1.3% in the second quarter. Parametric Portfolio Associates LLC now owns 11,873 shares of the financial services provider’s stock worth $125,000 after buying an additional 156 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Heritage Commerce Corp. during the second quarter worth $130,000. BlackRock Advisors LLC boosted its position in shares of Heritage Commerce Corp. by 3.2% in the second quarter. BlackRock Advisors LLC now owns 12,800 shares of the financial services provider’s stock worth $135,000 after buying an additional 396 shares in the last quarter. CAPROCK Group Inc. purchased a new position in shares of Heritage Commerce Corp. during the second quarter worth $151,000. Finally, First Trust Advisors LP purchased a new position in shares of Heritage Commerce Corp. during the third quarter worth $162,000. Institutional investors and hedge funds own 53.70% of the company’s stock.
Separately, Zacks Investment Research cut shares of Heritage Commerce Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd.
Heritage Commerce Corp. Company Profile
Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
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