Jack W. Conner Acquires 7,879 Shares of Heritage Commerce Corp. (HTBK) Stock

Heritage Commerce Corp. (NASDAQ:HTBK) Director Jack W. Conner bought 7,879 shares of the stock in a transaction on Wednesday, May 22nd. The shares were purchased at an average price of $12.24 per share, with a total value of $96,438.96. Following the acquisition, the director now owns 85,432 shares in the company, valued at approximately $1,045,687.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

NASDAQ:HTBK traded down $0.20 during mid-day trading on Thursday, reaching $11.96. The stock had a trading volume of 128,159 shares, compared to its average volume of 156,203. The stock has a market capitalization of $531.58 million, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 1.51 and a beta of 0.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.72 and a quick ratio of 0.72. Heritage Commerce Corp. has a 12 month low of $10.84 and a 12 month high of $18.10.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. Heritage Commerce had a net margin of 26.62% and a return on equity of 13.01%. The firm had revenue of $33.51 million for the quarter, compared to analyst estimates of $35.23 million. As a group, analysts anticipate that Heritage Commerce Corp. will post 1.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Wednesday, May 8th. Heritage Commerce’s payout ratio is currently 45.28%.

Several equities analysts have recently weighed in on the company. ValuEngine cut Heritage Commerce from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 20th. Zacks Investment Research upgraded shares of Heritage Commerce from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Wednesday, March 27th. BidaskClub downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Finally, Brean Capital reiterated a “buy” rating on shares of Heritage Commerce in a research report on Tuesday, February 26th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $16.33.

Several hedge funds have recently made changes to their positions in HTBK. Acadian Asset Management LLC purchased a new stake in shares of Heritage Commerce during the 4th quarter valued at approximately $25,000. Marshall Wace North America L.P. purchased a new stake in shares of Heritage Commerce during the 1st quarter valued at approximately $56,000. Legal & General Group Plc lifted its stake in shares of Heritage Commerce by 12.8% during the 4th quarter. Legal & General Group Plc now owns 7,135 shares of the financial services provider’s stock valued at $81,000 after buying an additional 811 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Heritage Commerce by 63,869.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,316 shares of the financial services provider’s stock valued at $101,000 after buying an additional 8,303 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its stake in shares of Heritage Commerce by 333.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,780 shares of the financial services provider’s stock valued at $145,000 after buying an additional 9,829 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.

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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. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.

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