Heritage Commerce Corp (NASDAQ:HTBK) Plans $0.13 Quarterly Dividend

Heritage Commerce Corp (NASDAQ:HTBK) announced a quarterly dividend on Wednesday, March 11th. Stockholders of record on Wednesday, March 25th will be paid a dividend of 0.13 per share by the financial services provider on Wednesday, April 8th. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, March 25th.

Heritage Commerce has a payout ratio of 60.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Heritage Commerce to earn $0.90 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 57.8%.

Heritage Commerce Stock Performance

HTBK opened at $12.15 on Thursday. The stock’s 50 day simple moving average is $12.82 and its 200-day simple moving average is $11.43. The company has a current ratio of 0.74, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $747.95 million, a PE ratio of 15.58 and a beta of 0.79. Heritage Commerce has a 1 year low of $8.09 and a 1 year high of $13.82.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.23 by $0.05. Heritage Commerce had a return on equity of 8.07% and a net margin of 17.77%.The firm had revenue of $104.04 million during the quarter, compared to analysts’ expectations of $50.78 million. Sell-side analysts forecast that Heritage Commerce will post 0.8 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HTBK shares. Stephens restated an “equal weight” rating on shares of Heritage Commerce in a research note on Monday, January 5th. Zacks Research lowered shares of Heritage Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Wall Street Zen cut shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Saturday, December 20th. DA Davidson reissued a “neutral” rating and issued a $14.50 price target on shares of Heritage Commerce in a research report on Wednesday, February 4th. Finally, Raymond James Financial cut shares of Heritage Commerce from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.25.

Heritage Commerce Company Profile

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.