Susan Svensson Just Sells 1,602 Shares of Heritage Commerce Corp (NASDAQ:HTBK) Stock

Heritage Commerce Corp (NASDAQ:HTBK) EVP Susan Svensson Just sold 1,602 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $9.73, for a total value of $15,587.46. Following the sale, the executive vice president now owns 10,774 shares in the company, valued at approximately $104,831.02. This trade represents a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Heritage Commerce Stock Performance

Shares of NASDAQ:HTBK traded down $0.16 during midday trading on Tuesday, reaching $9.45. The company had a trading volume of 339,501 shares, compared to its average volume of 364,117. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. The stock has a market cap of $579.31 million, a P/E ratio of 14.32 and a beta of 0.92. The company’s 50 day moving average price is $9.83 and its 200 day moving average price is $9.97. Heritage Commerce Corp has a 52-week low of $7.66 and a 52-week high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. As a group, sell-side analysts anticipate that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.13 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.50%. Heritage Commerce’s dividend payout ratio (DPR) is currently 78.79%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Quarry LP raised its holdings in shares of Heritage Commerce by 562.4% in the 4th quarter. Quarry LP now owns 3,153 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 2,677 shares in the last quarter. US Bancorp DE raised its position in Heritage Commerce by 64.8% in the 4th quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 1,365 shares during the period. FMR LLC grew its stake in shares of Heritage Commerce by 103.7% during the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock valued at $77,000 after buying an additional 3,987 shares during the last quarter. Two Sigma Securities LLC purchased a new position in shares of Heritage Commerce in the fourth quarter worth about $97,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Heritage Commerce in the 4th quarter valued at about $99,000. 75.55% of the stock is owned by institutional investors.

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.