Heritage Commerce Corp (HTBK) To Go Ex-Dividend on February 5th

Heritage Commerce Corp (NASDAQ:HTBK) declared a quarterly dividend on Thursday, January 22nd. Investors of record on Thursday, February 5th will be paid a dividend of 0.13 per share by the financial services provider on Thursday, February 19th. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, February 5th.

Heritage Commerce has raised its dividend by an average of 0.0%annually over the last three years. Heritage Commerce has a dividend payout ratio of 60.5% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of HTBK opened at $12.88 on Friday. The company has a market cap of $788.98 million, a P/E ratio of 16.51 and a beta of 0.80. Heritage Commerce has a fifty-two week low of $8.09 and a fifty-two week high of $13.64. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average price is $11.92 and its 200 day moving average price is $10.72.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly 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 net margin of 17.77% and a return on equity of 8.10%. The business had revenue of $53.62 million during the quarter, compared to the consensus estimate of $50.78 million. On average, research analysts forecast that Heritage Commerce will post 0.8 earnings per share for the current fiscal year.

Institutional Trading of Heritage Commerce

Several institutional investors have recently modified their holdings of HTBK. HoldCo Asset Management LP purchased a new position in shares of Heritage Commerce in the 2nd quarter valued at $16,121,000. Boston Partners boosted its stake in Heritage Commerce by 52.1% in the third quarter. Boston Partners now owns 1,676,777 shares of the financial services provider’s stock valued at $16,636,000 after acquiring an additional 574,070 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Heritage Commerce during the fourth quarter worth about $5,010,000. Vanguard Group Inc. grew its holdings in shares of Heritage Commerce by 11.0% during the third quarter. Vanguard Group Inc. now owns 3,946,682 shares of the financial services provider’s stock worth $39,191,000 after purchasing an additional 390,978 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Heritage Commerce by 979.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 360,543 shares of the financial services provider’s stock worth $3,580,000 after purchasing an additional 327,138 shares in the last quarter. Hedge funds and other institutional investors own 75.55% of the company’s stock.

About Heritage Commerce

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.