Heritage Commerce Corp (HTBK) EVP Michael Eugene Benito Sells 6,000 Shares

Heritage Commerce Corp (NASDAQ:HTBK) EVP Michael Eugene Benito sold 6,000 shares of Heritage Commerce stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $17.00, for a total value of $102,000.00. Following the completion of the sale, the executive vice president now owns 41,600 shares of the company’s stock, valued at $707,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of HTBK stock traded down $0.07 on Friday, hitting $17.02. The stock had a trading volume of 198,252 shares, compared to its average volume of 151,110. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $686.33 million, a P/E ratio of 21.28, a PEG ratio of 1.70 and a beta of 0.59. Heritage Commerce Corp has a one year low of $12.76 and a one year high of $17.43.

Heritage Commerce (NASDAQ:HTBK) last posted its earnings results on Thursday, April 26th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.01). Heritage Commerce had a net margin of 21.93% and a return on equity of 12.22%. The company had revenue of $28.54 million during the quarter, compared to analysts’ expectations of $29.45 million. analysts anticipate that Heritage Commerce Corp will post 1 earnings per share for the current fiscal year.



The business also recently announced a quarterly dividend, which was paid on Thursday, May 24th. Shareholders of record on Thursday, May 10th were paid a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, May 9th. This represents a $0.44 annualized dividend and a yield of 2.59%. Heritage Commerce’s dividend payout ratio (DPR) is presently 55.00%.

A number of institutional investors and hedge funds have recently bought and sold shares of HTBK. Wells Fargo & Company MN grew its stake in Heritage Commerce by 48.9% in the third quarter. Wells Fargo & Company MN now owns 53,696 shares of the financial services provider’s stock valued at $765,000 after purchasing an additional 17,627 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Heritage Commerce by 40.8% during the fourth quarter. Bank of Montreal Can now owns 13,042 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 3,782 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Heritage Commerce by 26.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 163,700 shares of the financial services provider’s stock worth $2,508,000 after acquiring an additional 33,864 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Heritage Commerce during the fourth quarter worth about $195,000. Finally, Victory Capital Management Inc. grew its stake in shares of Heritage Commerce by 8.0% during the fourth quarter. Victory Capital Management Inc. now owns 94,569 shares of the financial services provider’s stock worth $1,449,000 after acquiring an additional 6,994 shares during the last quarter. Institutional investors own 69.16% of the company’s stock.

Several research firms recently weighed in on HTBK. Brean Capital restated a “buy” rating on shares of Heritage Commerce in a report on Monday, April 16th. BidaskClub downgraded Heritage Commerce from a “buy” rating to a “hold” rating in a report on Monday, May 14th. ValuEngine downgraded Heritage Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, April 18th. Zacks Investment Research downgraded Heritage Commerce from a “buy” rating to a “hold” rating in a report on Saturday, March 31st. Finally, DA Davidson upgraded Heritage Commerce from a “neutral” rating to a “buy” rating in a report on Monday, February 12th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $18.50.

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. 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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