Heritage Commerce Corp (NASDAQ:HTBK) Director Jack W. Conner Sells 4,000 Shares

Heritage Commerce Corp (NASDAQ:HTBK - Get Free Report) Director Jack W. Conner sold 4,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $10.52, for a total transaction of $42,080.00. Following the completion of the transaction, the director now owns 108,512 shares in the company, valued at approximately $1,141,546.24. The trade was a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Heritage Commerce Stock Performance

Heritage Commerce stock traded down $0.09 during midday trading on Thursday, reaching $9.99. 449,251 shares of the stock traded hands, compared to its average volume of 414,292. Heritage Commerce Corp has a fifty-two week low of $7.66 and a fifty-two week high of $11.27. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. The firm has a market cap of $612.42 million, a price-to-earnings ratio of 15.14 and a beta of 0.96. The firm has a fifty day moving average price of $9.80 and a two-hundred day moving average price of $9.96.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. On average, equities research analysts forecast that Heritage Commerce Corp will post 0.8 earnings per share for the current year.

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Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders 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 5.21%. Heritage Commerce's payout ratio is 78.79%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Quarry LP lifted its holdings in Heritage Commerce by 562.4% in the fourth quarter. Quarry LP now owns 3,153 shares of the financial services provider's stock worth $30,000 after purchasing an additional 2,677 shares during the period. US Bancorp DE lifted its stake in shares of Heritage Commerce by 64.8% in the 4th quarter. US Bancorp DE now owns 3,473 shares of the financial services provider's stock worth $33,000 after acquiring an additional 1,365 shares during the period. FMR LLC lifted its stake in shares of Heritage Commerce by 103.7% in the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider's stock worth $77,000 after acquiring an additional 3,987 shares during the period. Two Sigma Securities LLC bought a new position in shares of Heritage Commerce in the fourth quarter valued at approximately $97,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Heritage Commerce during the fourth quarter valued at approximately $99,000. 75.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of Heritage Commerce from a "sell" rating to a "hold" rating in a report 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 on the stock in a report on Friday, January 24th. Finally, Stephens upgraded Heritage Commerce from a "hold" rating to a "strong-buy" rating in a research report on Monday.

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.