Heritage Commerce (NASDAQ:HTBK) Shares Gap Down - What's Next?

Heritage Commerce Corp (NASDAQ:HTBK - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $10.65, but opened at $10.21. Heritage Commerce shares last traded at $10.61, with a volume of 23,487 shares changing hands.

Wall Street Analyst Weigh In

HTBK has been the subject of several recent analyst reports. Stephens raised Heritage Commerce from an "equal weight" rating to an "overweight" rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods decreased 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. Finally, StockNews.com raised Heritage Commerce from a "sell" rating to a "hold" rating in a research note on Wednesday, December 4th.

Heritage Commerce Stock Down 2.3 %

The business's 50 day simple moving average is $9.69 and its 200-day simple moving average is $9.92. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $643.65 million, a price-to-earnings ratio of 15.91 and a beta of 0.96.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last released its quarterly earnings data 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%. Sell-side analysts expect that Heritage Commerce Corp will post 0.8 earnings per share for the current year.

Heritage Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid 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 4.95%. Heritage Commerce's payout ratio is 78.79%.

Hedge Funds Weigh In On Heritage Commerce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HTBK. State Street Corp grew its position in Heritage Commerce by 3.2% in the third quarter. State Street Corp now owns 1,965,643 shares of the financial services provider's stock worth $19,421,000 after acquiring an additional 61,630 shares in the last quarter. Barclays PLC lifted its stake in shares of Heritage Commerce by 7.2% in the 3rd quarter. Barclays PLC now owns 216,439 shares of the financial services provider's stock valued at $2,139,000 after purchasing an additional 14,466 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Heritage Commerce by 58.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider's stock worth $4,350,000 after purchasing an additional 170,989 shares in the last quarter. Jane Street Group LLC increased its position in Heritage Commerce by 55.6% during the third quarter. Jane Street Group LLC now owns 103,596 shares of the financial services provider's stock worth $1,024,000 after buying an additional 36,997 shares during the last quarter. Finally, FMR LLC raised its holdings in 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 in the last quarter. Institutional investors own 75.55% of the company's stock.

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.