Insider Selling: Heritage Commerce Corp (NASDAQ:HTBK) CEO Sells 5,145 Shares of Stock

Heritage Commerce Corp (NASDAQ:HTBK) CEO Robertson Clay Jones, Jr. sold 5,145 shares of Heritage Commerce stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.73, for a total value of $50,060.85. Following the completion of the transaction, the chief executive officer now owns 254,227 shares of the company’s stock, valued at approximately $2,473,628.71. This trade represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Heritage Commerce Stock Up 1.0 %

Shares of NASDAQ HTBK opened at $9.54 on Thursday. The company has a market capitalization of $584.83 million, a price-to-earnings ratio of 14.45 and a beta of 0.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. The business has a 50-day moving average of $9.83 and a two-hundred day moving average of $9.96. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. On average, analysts forecast that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend was Thursday, February 6th. Heritage Commerce’s payout ratio is currently 78.79%.

Institutional Trading of Heritage Commerce

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Heritage Commerce by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,392,688 shares of the financial services provider’s stock valued at $31,823,000 after purchasing an additional 130,144 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Heritage Commerce by 13.2% in the 4th quarter. Wellington Management Group LLP now owns 2,302,615 shares of the financial services provider’s stock valued at $21,599,000 after purchasing an additional 268,900 shares during the last quarter. State Street Corp lifted its holdings in shares of Heritage Commerce by 3.2% in the 3rd quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock valued at $19,421,000 after purchasing an additional 61,630 shares during the last quarter. Boston Partners lifted its holdings in shares of Heritage Commerce by 1.7% in the 4th quarter. Boston Partners now owns 1,564,741 shares of the financial services provider’s stock valued at $14,620,000 after purchasing an additional 26,442 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Heritage Commerce by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,426,816 shares of the financial services provider’s stock valued at $13,386,000 after purchasing an additional 4,756 shares during the last quarter. 75.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HTBK shares. StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Stephens raised Heritage Commerce from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods decreased their price target on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a report on Friday, January 24th.

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. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.