Insider Selling: Heritage Commerce Corp (NASDAQ:HTBK) EVP Sells 1,602 Shares of Stock

Heritage Commerce Corp (NASDAQ:HTBK) EVP Susan Svensson Just sold 1,602 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.73, for a total value of $15,587.46. Following the completion of the sale, the executive vice president now owns 10,774 shares of the company’s stock, valued at $104,831.02. The trade was a 12.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Heritage Commerce Trading Down 1.7 %

HTBK stock traded down $0.16 during midday trading on Tuesday, hitting $9.45. 339,501 shares of the company’s stock were exchanged, compared to its average volume of 364,117. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s fifty day moving average price is $9.83 and its 200-day moving average price is $9.97. Heritage Commerce Corp has a one year low of $7.66 and a one year high of $11.27. The company has a market cap of $579.31 million, a PE ratio of 14.32 and a beta of 0.92.

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

Heritage Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.52 annualized dividend and a yield of 5.50%. Heritage Commerce’s dividend payout ratio is 78.79%.

Analysts Set New Price Targets

A number of research firms recently commented on HTBK. Keefe, Bruyette & Woods dropped their price objective on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating on the stock in a report on Friday, January 24th. StockNews.com upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Finally, Stephens raised shares of Heritage Commerce from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd.

Institutional Investors Weigh In On Heritage Commerce

A number of large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC raised its position in shares of Heritage Commerce by 27.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 3,529 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Heritage Commerce by 49.4% during the third quarter. GSA Capital Partners LLP now owns 127,528 shares of the financial services provider’s stock worth $1,260,000 after acquiring an additional 42,167 shares during the period. Empowered Funds LLC grew its position in shares of Heritage Commerce by 5.3% in the third quarter. Empowered Funds LLC now owns 150,733 shares of the financial services provider’s stock valued at $1,489,000 after purchasing an additional 7,638 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Heritage Commerce during the third quarter worth approximately $116,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Heritage Commerce by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 496,190 shares of the financial services provider’s stock worth $4,902,000 after purchasing an additional 6,884 shares during the last quarter. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Company Profile

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.