Insider Buying: Heritage Commerce Corp. (HTBK) Director Buys 1,755 Shares of Stock

Heritage Commerce Corp. (NASDAQ:HTBK) Director Jack W. Conner acquired 1,755 shares of the stock in a transaction dated Wednesday, November 21st. The shares were acquired at an average cost of $14.20 per share, with a total value of $24,921.00. Following the completion of the transaction, the director now owns 70,511 shares in the company, valued at approximately $1,001,256.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of NASDAQ HTBK traded up $0.12 during trading hours on Monday, reaching $14.35. The stock had a trading volume of 80,900 shares, compared to its average volume of 177,959. The stock has a market cap of $615.86 million, a PE ratio of 17.91, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11. Heritage Commerce Corp. has a fifty-two week low of $13.67 and a fifty-two week high of $18.10.

Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Thursday, October 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $34.66 million during the quarter, compared to analysts’ expectations of $34.56 million. Heritage Commerce had a return on equity of 12.45% and a net margin of 17.74%. Sell-side analysts anticipate that Heritage Commerce Corp. will post 0.98 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th were given a $0.11 dividend. The ex-dividend date of this dividend was Monday, November 5th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.07%. Heritage Commerce’s dividend payout ratio (DPR) is presently 55.00%.

A number of brokerages recently issued reports on HTBK. Brean Capital reissued a “buy” rating and issued a $17.00 target price on shares of Heritage Commerce in a research report on Monday, October 22nd. ValuEngine cut Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. Finally, BidaskClub cut Heritage Commerce from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 15th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $18.50.

Several hedge funds and other institutional investors have recently made changes to their positions in HTBK. Vanguard Group Inc. grew its holdings in Heritage Commerce by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,816,670 shares of the financial services provider’s stock valued at $27,105,000 after buying an additional 40,494 shares during the last quarter. Morgan Stanley grew its holdings in Heritage Commerce by 11.3% during the 3rd quarter. Morgan Stanley now owns 531,143 shares of the financial services provider’s stock valued at $7,924,000 after buying an additional 53,946 shares during the last quarter. Phocas Financial Corp. acquired a new stake in Heritage Commerce during the 3rd quarter valued at $5,243,000. Summit Global Investments grew its holdings in Heritage Commerce by 21.2% during the 3rd quarter. Summit Global Investments now owns 45,100 shares of the financial services provider’s stock valued at $673,000 after buying an additional 7,900 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in Heritage Commerce by 10.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,540,414 shares of the financial services provider’s stock valued at $22,983,000 after buying an additional 149,213 shares during the last quarter. 73.61% of the stock is owned by hedge funds and other institutional investors.

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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. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.

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Insider Buying and Selling by Quarter for Heritage Commerce (NASDAQ:HTBK)

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