Heritage Commerce (NASDAQ:HTBK) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Heritage Commerce Corp (NASDAQ:HTBK) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.61 and traded as high as $9.90. Heritage Commerce shares last traded at $9.83, with a volume of 201,664 shares.

Wall Street Analyst Weigh In

HTBK has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Heritage Commerce in a report on Wednesday. Wall Street Zen downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.67.

Heritage Commerce Trading Down 0.2%

The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $9.96 and its 200 day simple moving average is $9.61. The stock has a market capitalization of $604.02 million, a P/E ratio of 15.60 and a beta of 0.85.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. Heritage Commerce had a net margin of 15.00% and a return on equity of 6.61%. The firm had revenue of $47.78 million for the quarter, compared to analysts’ expectations of $47.17 million. Equities research analysts anticipate that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 5.3%. The ex-dividend date was Thursday, August 7th. Heritage Commerce’s payout ratio is presently 82.54%.

Insider Transactions at Heritage Commerce

In related news, COO Thomas A. Sa acquired 20,000 shares of the business’s stock in a transaction on Friday, August 1st. The shares were purchased at an average price of $9.25 per share, for a total transaction of $185,000.00. Following the acquisition, the chief operating officer owned 20,000 shares in the company, valued at approximately $185,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.71% of the company’s stock.

Institutional Trading of Heritage Commerce

Several institutional investors and hedge funds have recently bought and sold shares of HTBK. HoldCo Asset Management LP acquired a new stake in Heritage Commerce during the 2nd quarter worth about $16,121,000. Wellington Management Group LLP raised its holdings in Heritage Commerce by 64.9% during the 1st quarter. Wellington Management Group LLP now owns 3,796,472 shares of the financial services provider’s stock worth $36,142,000 after buying an additional 1,493,857 shares during the period. Rhino Investment Partners Inc acquired a new stake in Heritage Commerce during the 1st quarter worth about $5,222,000. Hotchkis & Wiley Capital Management LLC raised its holdings in Heritage Commerce by 69.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,277,630 shares of the financial services provider’s stock worth $12,163,000 after buying an additional 525,060 shares during the period. Finally, Nuveen LLC acquired a new stake in Heritage Commerce during the 1st quarter worth about $4,861,000. Institutional investors and hedge funds own 75.55% of the company’s stock.

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.