Heritage Commerce Corp (NASDAQ:HTBK) to Issue Quarterly Dividend of $0.13

Heritage Commerce Corp (NASDAQ:HTBK) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Thursday, November 7th will be paid a dividend of 0.13 per share by the financial services provider on Thursday, November 21st. This represents a $0.52 annualized dividend and a dividend yield of 5.44%. The ex-dividend date is Thursday, November 7th.

Heritage Commerce has a payout ratio of 73.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Heritage Commerce to earn $0.74 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 70.3%.

Heritage Commerce Trading Down 0.9 %

Shares of HTBK opened at $9.56 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $585.93 million, a P/E ratio of 13.46 and a beta of 0.93. The stock’s fifty day simple moving average is $9.84 and its 200 day simple moving average is $9.15. Heritage Commerce has a twelve month low of $7.66 and a twelve month high of $10.99.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $63.68 million for the quarter, compared to analyst estimates of $43.14 million. Heritage Commerce had a return on equity of 6.39% and a net margin of 17.61%. On average, equities research analysts forecast that Heritage Commerce will post 0.66 earnings per share for the current year.

Analyst Ratings Changes

HTBK has been the topic of several research reports. Keefe, Bruyette & Woods raised their price objective on Heritage Commerce from $10.50 to $11.50 and gave the company an “outperform” rating in a research report on Friday, July 26th. Piper Sandler boosted their price objective on Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, StockNews.com cut Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th.

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. 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.