Heritage Commerce Corp (NASDAQ:HTBK) Announces $0.13 Quarterly Dividend

Heritage Commerce Corp (NASDAQ:HTBK) announced a quarterly dividend on Thursday, October 23rd. Investors of record on Thursday, November 6th will be given a dividend of 0.13 per share by the financial services provider on Thursday, November 20th. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Thursday, November 6th.

Heritage Commerce has a payout ratio of 60.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Heritage Commerce to earn $0.90 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 57.8%.

Heritage Commerce Stock Performance

HTBK opened at $9.74 on Friday. Heritage Commerce has a 52-week low of $8.09 and a 52-week high of $11.27. The firm has a market capitalization of $598.49 million, a PE ratio of 15.46 and a beta of 0.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77. The business’s 50-day simple moving average is $10.01 and its 200 day simple moving average is $9.64.

Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Thursday, October 23rd. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.03. Heritage Commerce had a return on equity of 6.61% and a net margin of 15.00%.The business had revenue of $50.01 million for the quarter, compared to analyst estimates of $48.90 million. As a group, sell-side analysts expect that Heritage Commerce will post 0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HTBK has been the topic of several research analyst reports. Piper Sandler initiated coverage on Heritage Commerce in a research note on Friday, October 10th. They issued an “overweight” rating and a $11.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Heritage Commerce in a research note on Wednesday, October 8th. Zacks Research lowered Heritage Commerce from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, Wall Street Zen lowered Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Heritage Commerce has a consensus rating of “Hold” and an average target price of $10.75.

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.