Robertson Clay Jones, Jr. Sells 5,145 Shares of Heritage Commerce Corp (NASDAQ:HTBK) Stock

Heritage Commerce Corp (NASDAQ:HTBK) CEO Robertson Clay Jones, Jr. sold 5,145 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.73, for a total value of $50,060.85. Following the transaction, the chief executive officer now directly owns 254,227 shares in the company, valued at $2,473,628.71. This trade represents a 1.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Heritage Commerce Trading Down 1.7 %

Heritage Commerce stock traded down $0.16 during trading on Tuesday, hitting $9.45. The company had a trading volume of 339,501 shares, compared to its average volume of 364,117. The stock has a market cap of $579.31 million, a price-to-earnings ratio of 14.32 and a beta of 0.92. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a 1-year low of $7.66 and a 1-year high of $11.27. The company’s 50 day simple moving average is $9.83 and its 200-day simple moving average is $9.97.

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

Heritage Commerce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.13 dividend. 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 5.50%. Heritage Commerce’s dividend payout ratio (DPR) is presently 78.79%.

Analyst Ratings Changes

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

Institutional Trading of Heritage Commerce

Hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Heritage Commerce by 3.2% in the 3rd quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock valued at $19,421,000 after purchasing an additional 61,630 shares during the last quarter. Barclays PLC grew its stake in shares of Heritage Commerce by 7.2% during the third quarter. Barclays PLC now owns 216,439 shares of the financial services provider’s stock worth $2,139,000 after purchasing an additional 14,466 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Heritage Commerce by 58.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider’s stock valued at $4,350,000 after buying an additional 170,989 shares during the last quarter. Jane Street Group LLC increased its holdings in Heritage Commerce by 55.6% in the third quarter. Jane Street Group LLC now owns 103,596 shares of the financial services provider’s stock valued at $1,024,000 after buying an additional 36,997 shares during the last quarter. Finally, FMR LLC lifted its holdings in Heritage Commerce by 103.7% during the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after buying an additional 3,987 shares during the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

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.