Heritage Commerce (NASDAQ:HTBK) Shares Gap Down – What’s Next?

Heritage Commerce Corp (NASDAQ:HTBK)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $10.56, but opened at $10.17. Heritage Commerce shares last traded at $10.55, with a volume of 17,304 shares.

Analyst Ratings Changes

HTBK has been the subject of several analyst reports. StockNews.com raised Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Stephens raised shares of Heritage Commerce from an “equal weight” rating to an “overweight” rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating on the stock in a report on Friday, January 24th.

Heritage Commerce Stock Down 0.2 %

The stock has a 50-day moving average price of $9.70 and a 200-day moving average price of $9.93. The company has a market capitalization of $645.83 million, a P/E ratio of 15.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. On average, research analysts predict that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a yield of 4.94%. Heritage Commerce’s dividend payout ratio (DPR) is presently 78.79%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of Heritage Commerce by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,392,688 shares of the financial services provider’s stock worth $31,823,000 after acquiring an additional 130,144 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Heritage Commerce by 13.2% during the fourth quarter. Wellington Management Group LLP now owns 2,302,615 shares of the financial services provider’s stock valued at $21,599,000 after buying an additional 268,900 shares during the last quarter. State Street Corp grew its holdings in Heritage Commerce by 3.2% during the third quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock worth $19,421,000 after buying an additional 61,630 shares in the last quarter. Boston Partners raised its position in Heritage Commerce by 1.7% in the 4th quarter. Boston Partners now owns 1,564,741 shares of the financial services provider’s stock valued at $14,620,000 after buying an additional 26,442 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Heritage Commerce by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,426,816 shares of the financial services provider’s stock valued at $13,386,000 after acquiring an additional 4,756 shares in the last quarter. 75.55% of the stock is owned by institutional investors.

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.