Heritage Commerce Corp (NASDAQ:HTBK - Get Free Report) was the recipient of a large growth in short interest in February. As of February 15th, there was short interest totalling 551,700 shares, a growth of 30.2% from the January 31st total of 423,800 shares. Based on an average daily volume of 369,300 shares, the short-interest ratio is currently 1.5 days. Approximately 0.9% of the shares of the company are sold short.
Insider Transactions at Heritage Commerce
In other news, Director Jack W. Conner sold 4,000 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $10.52, for a total value of $42,080.00. Following the completion of the sale, the director now directly owns 108,512 shares in the company, valued at $1,141,546.24. This represents a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.99% of the stock is currently owned by company insiders.
Institutional Trading of Heritage Commerce
A number of large investors have recently modified their holdings of HTBK. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Heritage Commerce by 27.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,262 shares of the financial services provider's stock valued at $161,000 after purchasing an additional 3,529 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Heritage Commerce by 49.4% in the third quarter. GSA Capital Partners LLP now owns 127,528 shares of the financial services provider's stock valued at $1,260,000 after purchasing an additional 42,167 shares during the period. Empowered Funds LLC boosted its holdings in shares of Heritage Commerce by 5.3% in the third quarter. Empowered Funds LLC now owns 150,733 shares of the financial services provider's stock valued at $1,489,000 after purchasing an additional 7,638 shares during the period. Intech Investment Management LLC bought a new position in Heritage Commerce in the third quarter worth approximately $116,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Heritage Commerce by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 496,190 shares of the financial services provider's stock worth $4,902,000 after buying an additional 6,884 shares in the last quarter. Hedge funds and other institutional investors own 75.55% of the company's stock.
Analyst Ratings Changes
A number of brokerages have issued reports on HTBK. StockNews.com upgraded Heritage Commerce from a "sell" rating to a "hold" rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods cut their price target on Heritage Commerce from $12.50 to $11.50 and set an "outperform" rating for the company in a research note on Friday, January 24th. Finally, Stephens upgraded Heritage Commerce from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 3rd.
Get Our Latest Analysis on HTBK
Heritage Commerce Trading Up 0.3 %
Shares of NASDAQ:HTBK traded up $0.03 during trading hours on Friday, hitting $10.02. 362,626 shares of the company's stock traded hands, compared to its average volume of 413,116. Heritage Commerce has a 1 year low of $7.66 and a 1 year high of $11.27. The business has a fifty day moving average price of $9.82 and a 200-day moving average price of $9.97. The firm has a market capitalization of $614.26 million, a P/E ratio of 15.18 and a beta of 0.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73.
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 will post 0.8 earnings per share for the current year.
Heritage Commerce Announces Dividend
The company also recently declared 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 dividend yield of 5.19%. Heritage Commerce's payout ratio is 78.79%.
About Heritage Commerce
(
Get Free Report)
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.
Further Reading
Before you consider Heritage Commerce, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Heritage Commerce wasn't on the list.
While Heritage Commerce currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
