Heritage Commerce Corp (NASDAQ:HTBK) Director J Philip Dinapoli Buys 5,000 Shares
Heritage Commerce Corp (NASDAQ:HTBK) Director J Philip Dinapoli purchased 5,000 shares of Heritage Commerce Corp stock in a transaction on Thursday, August 10th. The stock was bought at an average price of $13.53 per share, for a total transaction of $67,650.00. Following the completion of the acquisition, the director now owns 163,376 shares in the company, valued at approximately $2,210,477.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Heritage Commerce Corp (NASDAQ:HTBK) opened at 13.68 on Tuesday. The firm has a 50-day moving average of $13.79 and a 200-day moving average of $13.89. The company has a market capitalization of $521.62 million, a P/E ratio of 18.77 and a beta of 0.52. Heritage Commerce Corp has a one year low of $10.23 and a one year high of $14.87.
Heritage Commerce Corp (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. The business had revenue of $27.23 million for the quarter, compared to the consensus estimate of $27.90 million. Heritage Commerce Corp had a net margin of 25.75% and a return on equity of 10.61%. Analysts forecast that Heritage Commerce Corp will post $0.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, August 8th. Heritage Commerce Corp’s payout ratio is 54.79%.
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A number of analysts have issued reports on the stock. Brean Capital reiterated a “buy” rating on shares of Heritage Commerce Corp in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Heritage Commerce Corp from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub downgraded shares of Heritage Commerce Corp from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, ValuEngine upgraded shares of Heritage Commerce Corp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Heritage Commerce Corp currently has an average rating of “Hold” and an average target price of $15.50.
Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its position in Heritage Commerce Corp by 20.4% in the second quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,339 shares during the last quarter. IFP Advisors Inc bought a new position in Heritage Commerce Corp during the second quarter valued at about $132,000. Two Sigma Securities LLC bought a new position in Heritage Commerce Corp during the first quarter valued at about $150,000. Principal Financial Group Inc. bought a new position in Heritage Commerce Corp during the second quarter valued at about $175,000. Finally, Voya Investment Management LLC bought a new position in Heritage Commerce Corp during the second quarter valued at about $189,000. 67.80% of the stock is currently owned by institutional investors and hedge funds.
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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