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Heritage Commerce (NASDAQ:HTBK) Stock Price Passes Above 200 Day Moving Average - Here's Why

Heritage Commerce logo with Finance background

Heritage Commerce Corp (NASDAQ:HTBK - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.89 and traded as high as $10.79. Heritage Commerce shares last traded at $10.65, with a volume of 474,646 shares.

Analyst Ratings Changes

Several brokerages have recently weighed in on HTBK. Keefe, Bruyette & Woods dropped their price objective on shares of Heritage Commerce from $12.50 to $11.50 and set an "outperform" rating on the stock in a report on Friday, January 24th. Stephens raised Heritage Commerce from an "equal weight" rating to an "overweight" rating in a research note on Friday, February 7th. Finally, StockNews.com raised Heritage Commerce from a "sell" rating to a "hold" rating in a research note on Wednesday, December 4th.

Get Our Latest Stock Analysis on HTBK

Heritage Commerce Price Performance

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 stock has a market capitalization of $656.22 million, a price-to-earnings ratio of 16.20 and a beta of 0.96. The business's fifty day moving average price is $9.67 and its 200-day moving average price is $9.89.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last released 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%. On average, research analysts forecast that Heritage Commerce Corp will post 0.8 EPS for the current year.

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a yield of 4.86%. Heritage Commerce's dividend payout ratio (DPR) is currently 78.79%.

Hedge Funds Weigh In On Heritage Commerce

Institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Heritage Commerce by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,920 shares of the financial services provider's stock worth $318,000 after buying an additional 1,115 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Heritage Commerce by 3.5% during the fourth quarter. First Trust Advisors LP now owns 38,379 shares of the financial services provider's stock valued at $360,000 after buying an additional 1,297 shares during the last quarter. Franklin Resources Inc. lifted its position in Heritage Commerce by 2.9% in the third quarter. Franklin Resources Inc. now owns 46,089 shares of the financial services provider's stock valued at $449,000 after purchasing an additional 1,302 shares during the last quarter. US Bancorp DE boosted its position in Heritage Commerce by 64.8% during the 4th quarter. US Bancorp DE now owns 3,473 shares of the financial services provider's stock valued at $33,000 after buying an additional 1,365 shares during the period. Finally, Princeton Capital Management LLC grew its stake in shares of Heritage Commerce by 13.3% in the fourth quarter. Princeton Capital Management LLC now owns 17,041 shares of the financial services provider's stock worth $160,000 after purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 75.55% of the company's stock.

Heritage Commerce Company Profile

(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.

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