Insider Selling: Heritage Commerce Corp (NASDAQ:HTBK) CEO Sells 5,145 Shares of Stock

Heritage Commerce Corp (NASDAQ:HTBK - Get Free Report) CEO Robertson Clay Jones, Jr. sold 5,145 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.73, for a total value of $50,060.85. Following the completion of the sale, the chief executive officer now directly owns 254,227 shares of the company's stock, valued at approximately $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 is available through the SEC website.

Heritage Commerce Trading Down 0.1 %

Shares of NASDAQ:HTBK traded down $0.01 during trading hours on Thursday, hitting $9.53. 88,666 shares of the company's stock traded hands, compared to its average volume of 363,008. The business has a fifty day moving average price of $9.83 and a 200-day moving average price of $9.96. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year high of $11.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $583.97 million, a P/E ratio of 14.47 and a beta of 0.92.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. Equities analysts expect that Heritage Commerce Corp will post 0.8 earnings per share for the current year.

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Heritage Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders 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 annualized dividend and a dividend yield of 5.46%. Heritage Commerce's dividend payout ratio is currently 78.79%.

Hedge Funds Weigh In On Heritage Commerce

Several institutional investors have recently bought and sold shares of HTBK. Dimensional Fund Advisors LP raised its position in shares of Heritage Commerce by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,392,688 shares of the financial services provider's stock worth $31,823,000 after acquiring an additional 130,144 shares in the last quarter. Wellington Management Group LLP grew its stake in Heritage Commerce by 13.2% during the 4th quarter. Wellington Management Group LLP now owns 2,302,615 shares of the financial services provider's stock worth $21,599,000 after buying an additional 268,900 shares during the last quarter. State Street Corp increased its position in Heritage Commerce by 3.2% during 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 buying an additional 61,630 shares in the last quarter. Boston Partners boosted its holdings in Heritage Commerce by 1.7% in the fourth quarter. Boston Partners now owns 1,564,741 shares of the financial services provider's stock worth $14,620,000 after acquiring an additional 26,442 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Heritage Commerce by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,426,816 shares of the financial services provider's stock worth $13,386,000 after acquiring an additional 4,756 shares during the last quarter. 75.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Stephens raised Heritage Commerce from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 3rd. StockNews.com raised shares of Heritage Commerce from a "sell" rating to a "hold" rating in a report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Heritage Commerce from $12.50 to $11.50 and set an "outperform" rating for the company in a research report on Friday, January 24th.

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.