Heritage Commerce Corp (HTBK) To Go Ex-Dividend on May 8th

Heritage Commerce Corp (NASDAQ:HTBK) announced a quarterly dividend on Thursday, April 24th, RTT News reports. Stockholders of record on Thursday, May 8th will be given a dividend of 0.13 per share by the financial services provider on Thursday, May 22nd. This represents a $0.52 annualized dividend and a dividend yield of 5.63%. The ex-dividend date of this dividend is Thursday, May 8th.

Heritage Commerce has a dividend payout ratio of 60.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Heritage Commerce to earn $0.90 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 57.8%.

Heritage Commerce Stock Performance

NASDAQ:HTBK opened at $9.24 on Tuesday. Heritage Commerce has a fifty-two week low of $7.74 and a fifty-two week high of $11.27. 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 50 day moving average price of $9.26 and a 200 day moving average price of $9.74. The stock has a market capitalization of $569.29 million, a P/E ratio of 14.00 and a beta of 0.77.

Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. The firm had revenue of $46.06 million during the quarter, compared to analysts’ expectations of $45.89 million. Equities research analysts forecast that Heritage Commerce will post 0.8 EPS for the current year.

Insider Transactions at Heritage Commerce

In related news, Director Jack W. Conner sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $10.52, for a total value of $42,080.00. Following the sale, the director now directly owns 108,512 shares in the company, valued at $1,141,546.24. The trade was a 3.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.73, for a total transaction of $50,060.85. Following the transaction, the chief executive officer now owns 254,227 shares of the company’s stock, valued at $2,473,628.71. This trade represents a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,747 shares of company stock worth $107,728. Company insiders own 2.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on HTBK. Stephens reaffirmed an “overweight” rating and issued a $11.00 target price on shares of Heritage Commerce in a research report on Monday, April 28th. Raymond James set a $10.00 target price on shares of Heritage Commerce in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Heritage Commerce from $11.50 to $11.00 and set an “outperform” rating for the company in a research report on Friday, April 25th.

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.