Jack W. Conner Buys 2,828 Shares of Heritage Commerce Corp. (HTBK) Stock

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Heritage Commerce Corp. (NASDAQ:HTBK) Director Jack W. Conner purchased 2,828 shares of the stock in a transaction that occurred on Tuesday, December 4th. The stock was bought at an average cost of $13.67 per share, with a total value of $38,658.76. Following the completion of the transaction, the director now directly owns 74,106 shares in the company, valued at approximately $1,013,029.02. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

NASDAQ HTBK opened at $13.27 on Friday. The firm has a market capitalization of $576.05 million, a P/E ratio of 16.59, a P/E/G ratio of 1.94 and a beta of 0.46. Heritage Commerce Corp. has a 12 month low of $12.57 and a 12 month high of $18.10. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $34.66 million during the quarter, compared to the consensus estimate of $34.56 million. Heritage Commerce had a return on equity of 12.45% and a net margin of 17.74%. Equities analysts expect that Heritage Commerce Corp. will post 0.98 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Tuesday, November 6th were paid a $0.11 dividend. The ex-dividend date was Monday, November 5th. This represents a $0.44 dividend on an annualized basis and a yield of 3.32%. Heritage Commerce’s dividend payout ratio (DPR) is presently 55.00%.

HTBK has been the subject of a number of analyst reports. Brean Capital reissued a “buy” rating on shares of Heritage Commerce in a research report on Sunday, September 30th. BidaskClub raised Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Friday, October 12th. Finally, ValuEngine lowered Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. Three investment analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Heritage Commerce presently has a consensus rating of “Hold” and a consensus price target of $18.50.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in Heritage Commerce by 2.2% in the 3rd quarter. BlackRock Inc. now owns 3,449,386 shares of the financial services provider’s stock valued at $51,465,000 after purchasing an additional 74,188 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Heritage Commerce by 5.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,144,984 shares of the financial services provider’s stock valued at $32,003,000 after buying an additional 101,831 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Heritage Commerce by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,816,670 shares of the financial services provider’s stock valued at $27,105,000 after buying an additional 40,494 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Heritage Commerce by 10.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,540,414 shares of the financial services provider’s stock valued at $22,983,000 after buying an additional 149,213 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Heritage Commerce by 7.0% during the 3rd quarter. Renaissance Technologies LLC now owns 844,100 shares of the financial services provider’s stock valued at $12,594,000 after buying an additional 55,200 shares in the last quarter. Hedge funds and other institutional investors own 73.77% of the company’s stock.

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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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