Heritage Commerce Corp. (NASDAQ:HTBK) Director Jack W. Conner sold 24,500 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $15.47, for a total value of $379,015.00. Following the completion of the transaction, the director now owns 83,324 shares in the company, valued at approximately $1,289,022.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Heritage Commerce Corp. (NASDAQ HTBK) opened at $15.70 on Wednesday. The stock has a market capitalization of $588.29, a P/E ratio of 25.32, a P/E/G ratio of 1.51 and a beta of 0.61. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.77. Heritage Commerce Corp. has a 12 month low of $12.76 and a 12 month high of $16.80.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Thursday, February 8th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Wednesday, February 7th. This is an increase from Heritage Commerce’s previous quarterly dividend of $0.10. Heritage Commerce’s dividend payout ratio (DPR) is currently 70.97%.

A number of research analysts have recently commented on HTBK shares. Zacks Investment Research downgraded Heritage Commerce from a “buy” rating to a “hold” rating in a report on Monday, October 30th. BidaskClub downgraded Heritage Commerce from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Brean Capital set a $16.00 price target on Heritage Commerce and gave the stock a “buy” rating in a research note on Monday, October 23rd. DA Davidson upgraded Heritage Commerce from a “neutral” rating to a “buy” rating in a research note on Monday. Finally, ValuEngine downgraded Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. One 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 has an average rating of “Hold” and a consensus target price of $17.25.

A number of large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its stake in Heritage Commerce by 20.4% during the 2nd quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock worth $109,000 after buying an additional 1,339 shares during the last quarter. Bank of Montreal Can grew its stake in Heritage Commerce by 40.8% during the 4th quarter. Bank of Montreal Can now owns 13,042 shares of the financial services provider’s stock worth $200,000 after buying an additional 3,782 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its stake in Heritage Commerce by 27.8% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 17,737 shares of the financial services provider’s stock worth $245,000 after buying an additional 3,856 shares during the last quarter. TD Asset Management Inc. grew its stake in Heritage Commerce by 9.9% during the 3rd quarter. TD Asset Management Inc. now owns 48,553 shares of the financial services provider’s stock worth $691,000 after buying an additional 4,384 shares during the last quarter. Finally, Kennedy Capital Management Inc. grew its stake in Heritage Commerce by 1.4% during the 4th quarter. Kennedy Capital Management Inc. now owns 349,330 shares of the financial services provider’s stock worth $5,352,000 after buying an additional 4,765 shares during the last quarter. Hedge funds and other institutional investors own 70.20% of the company’s stock.

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Heritage Commerce 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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