Heritage Commerce Corp (HTBK) Director Sells $49,822.50 in Stock
Heritage Commerce Corp (NASDAQ:HTBK) Director Komas Julianne M. Biagini sold 3,650 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $13.65, for a total transaction of $49,822.50. Following the sale, the director now owns 25,696 shares in the company, valued at $350,750.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Heritage Commerce Corp (HTBK) traded up 0.15% during mid-day trading on Friday, reaching $13.42. 3,477 shares of the company’s stock were exchanged. The stock has a market cap of $511.70 million, a price-to-earnings ratio of 18.41 and a beta of 0.52. The stock has a 50 day moving average price of $13.68 and a 200 day moving average price of $13.84. Heritage Commerce Corp has a 52 week low of $10.23 and a 52 week high of $14.87.
Heritage Commerce Corp (NASDAQ:HTBK) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $27.23 million for the quarter, compared to the consensus estimate of $27.90 million. Heritage Commerce Corp had a return on equity of 10.61% and a net margin of 25.75%. Equities research analysts predict that Heritage Commerce Corp will post $0.78 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.40 annualized dividend and a dividend yield of 2.99%. Heritage Commerce Corp’s payout ratio is currently 54.79%.
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Several large investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its stake in shares of Heritage Commerce Corp by 20.4% in the second quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,339 shares during the last quarter. IFP Advisors Inc bought a new stake in shares of Heritage Commerce Corp during the second quarter valued at approximately $132,000. Two Sigma Securities LLC bought a new stake in shares of Heritage Commerce Corp during the first quarter valued at approximately $150,000. Principal Financial Group Inc. bought a new stake in shares of Heritage Commerce Corp during the second quarter valued at approximately $175,000. Finally, Voya Investment Management LLC bought a new stake in shares of Heritage Commerce Corp during the second quarter valued at approximately $189,000. Institutional investors and hedge funds own 69.47% of the company’s stock.
A number of analysts have issued reports on HTBK shares. Zacks Investment Research lowered shares of Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research note on Monday, July 3rd. ValuEngine upgraded shares of Heritage Commerce Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Brean Capital set a $16.00 price target on shares of Heritage Commerce Corp and gave the stock a “buy” rating in a research note on Friday, July 28th. Finally, BidaskClub lowered shares of Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Heritage Commerce Corp has an average rating of “Hold” and a consensus price target of $15.50.
Heritage Commerce Corp 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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