Heritage Commerce Corp. (NASDAQ:HTBK) EVP Michael Eugene Benito sold 6,250 shares of the firm’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $6.81, for a total transaction of $42,562.50. Following the completion of the sale, the executive vice president now owns 70,037 shares in the company, valued at $476,951.97. The sale was disclosed in a document filed with the SEC, which is available at this link.

Shares of Heritage Commerce stock opened at $6.78 on Friday. Heritage Commerce Corp. has a 1 year low of $6.04 and a 1 year high of $13.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $405.02 million, a P/E ratio of 8.58 and a beta of 1.14. The company’s fifty day moving average is $7.15 and its two-hundred day moving average is $8.75.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.06. The business had revenue of $37.02 million for the quarter, compared to the consensus estimate of $38.46 million. Heritage Commerce had a net margin of 17.94% and a return on equity of 8.15%. As a group, equities analysts expect that Heritage Commerce Corp. will post 0.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 7.67%. The ex-dividend date of this dividend is Wednesday, August 5th. Heritage Commerce’s payout ratio is 48.60%.

Several large investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Heritage Commerce by 6.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 19,572 shares of the financial services provider’s stock valued at $251,000 after acquiring an additional 1,250 shares in the last quarter. Swiss National Bank lifted its stake in shares of Heritage Commerce by 1.5% in the first quarter. Swiss National Bank now owns 109,100 shares of the financial services provider’s stock valued at $837,000 after purchasing an additional 1,600 shares during the period. Stone Ridge Asset Management LLC lifted its stake in shares of Heritage Commerce by 16.4% in the first quarter. Stone Ridge Asset Management LLC now owns 14,892 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 2,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Heritage Commerce by 88.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,506 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 2,583 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Heritage Commerce by 72.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,476 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 3,970 shares during the period. 69.62% of the stock is currently owned by institutional investors and hedge funds.

HTBK has been the topic of a number of recent analyst reports. Raymond James increased their target price on shares of Heritage Commerce from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. BidaskClub downgraded shares of Heritage Commerce from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 13th. ValuEngine raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Janney Montgomery Scott increased their target price on shares of Heritage Commerce from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $9.00 target price on shares of Heritage Commerce in a research report on Monday, June 29th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $10.75.

About Heritage Commerce

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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