Heritage Commerce (NASDAQ:HTBK) Share Price Passes Above Two Hundred Day Moving Average of $8.67

Shares of Heritage Commerce Corp (NASDAQ:HTBK - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.67 and traded as high as $10.20. Heritage Commerce shares last traded at $10.18, with a volume of 490,100 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of Heritage Commerce from $10.50 to $11.50 and gave the company an "outperform" rating in a research note on Friday, July 26th. StockNews.com downgraded Heritage Commerce from a "hold" rating to a "sell" rating in a research report on Wednesday, July 10th. Finally, Piper Sandler lifted their price target on Heritage Commerce from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th.

Heritage Commerce Price Performance

The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. The stock's 50 day moving average price is $9.55 and its two-hundred day moving average price is $8.67. The stock has a market cap of $623.59 million, a price-to-earnings ratio of 11.07 and a beta of 0.94.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last released its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.04). The company had revenue of $61.35 million for the quarter, compared to analysts' expectations of $43.35 million. Heritage Commerce had a net margin of 19.82% and a return on equity of 7.21%. Equities research analysts forecast that Heritage Commerce Corp will post 0.66 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend was Thursday, August 8th. Heritage Commerce's dividend payout ratio (DPR) is 56.52%.

Institutional Investors Weigh In On Heritage Commerce

A number of institutional investors have recently modified their holdings of HTBK. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Heritage Commerce by 94.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,381 shares of the financial services provider's stock valued at $182,000 after purchasing an additional 8,905 shares during the period. Victory Capital Management Inc. increased its holdings in Heritage Commerce by 6.7% in the 4th quarter. Victory Capital Management Inc. now owns 97,600 shares of the financial services provider's stock worth $968,000 after acquiring an additional 6,100 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Heritage Commerce by 150.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 212,680 shares of the financial services provider's stock valued at $2,110,000 after purchasing an additional 127,730 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Heritage Commerce by 64.1% during the fourth quarter. BNP Paribas Financial Markets now owns 64,167 shares of the financial services provider's stock valued at $637,000 after purchasing an additional 25,055 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Heritage Commerce by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,959,913 shares of the financial services provider's stock valued at $29,363,000 after purchasing an additional 202,504 shares during the period. 75.55% of the stock is currently owned by institutional investors and hedge funds.

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.