Heritage Commerce Corp’s (HTBK) “Buy” Rating Reaffirmed at Brean Capital
A number of other research firms also recently issued reports on HTBK. Zacks Investment Research raised Heritage Commerce Corp from a hold rating to a buy rating and set a $16.00 price objective on the stock in a research note on Wednesday, September 27th. BidaskClub downgraded Heritage Commerce Corp from a sell rating to a strong sell rating in a research report on Tuesday, August 22nd. Finally, ValuEngine downgraded Heritage Commerce Corp from a buy rating to a hold rating in a research report on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $15.67.
Heritage Commerce Corp (NASDAQ:HTBK) traded up 1.92% on Monday, hitting $15.38. 195,779 shares of the company traded hands. The firm’s 50 day moving average price is $14.30 and its 200 day moving average price is $13.91. The firm has a market capitalization of $586.44 million, a PE ratio of 21.10 and a beta of 0.51. Heritage Commerce Corp has a 1-year low of $10.23 and a 1-year high of $15.41.
Heritage Commerce Corp (NASDAQ:HTBK) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $28.78 million for the quarter, compared to the consensus estimate of $28.70 million. Heritage Commerce Corp had a return on equity of 11.27% and a net margin of 26.40%. Equities research analysts predict that Heritage Commerce Corp will post $0.81 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Monday, November 6th. Heritage Commerce Corp’s payout ratio is currently 51.95%.
In related news, Director J Philip Dinapoli purchased 5,000 shares of Heritage Commerce Corp stock in a transaction dated Thursday, August 10th. The stock was purchased at an average cost of $13.53 per share, with a total value of $67,650.00. Following the transaction, the director now owns 163,376 shares in the company, valued at approximately $2,210,477.28. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Komas Julianne M. Biagini sold 3,650 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $13.65, for a total value of $49,822.50. Following the completion of the transaction, the director now directly owns 25,696 shares of the company’s stock, valued at $350,750.40. The disclosure for this sale can be found here. 5.69% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in HTBK. Legal & General Group Plc increased its position in Heritage Commerce Corp by 20.4% during the 2nd 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 in the last quarter. IFP Advisors Inc acquired a new position in shares of Heritage Commerce Corp in the second quarter valued at about $132,000. Principal Financial Group Inc. acquired a new position in shares of Heritage Commerce Corp in the second quarter valued at about $175,000. Voya Investment Management LLC acquired a new position in shares of Heritage Commerce Corp in the second quarter valued at about $189,000. Finally, CAPROCK Group Inc. acquired a new position in shares of Heritage Commerce Corp in the second quarter valued at about $198,000. 69.47% of the stock is currently owned by institutional investors.
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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