Heritage Commerce Corp. (HTBK) Director Sells $379,015.00 in Stock

Heritage Commerce Corp. (NASDAQ:HTBK) Director Jack W. Conner sold 24,500 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $15.47, for a total value of $379,015.00. Following the sale, the director now directly owns 83,324 shares in the company, valued at $1,289,022.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Heritage Commerce Corp. (NASDAQ:HTBK) opened at $15.88 on Thursday. Heritage Commerce Corp. has a twelve month low of $12.76 and a twelve month high of $16.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.77 and a quick ratio of 0.76. The stock has a market capitalization of $599.75, a PE ratio of 19.63, a PEG ratio of 1.54 and a beta of 0.60.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.77%. This is a boost from Heritage Commerce’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, February 7th. Heritage Commerce’s payout ratio is 70.97%.

Several hedge funds have recently modified their holdings of HTBK. Legal & General Group Plc increased its holdings in shares of Heritage Commerce by 20.4% in the second quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,339 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Heritage Commerce by 471.6% in the fourth quarter. Meeder Asset Management Inc. now owns 8,100 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 6,683 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Heritage Commerce in the third quarter worth about $146,000. UBS Asset Management Americas Inc. bought a new stake in shares of Heritage Commerce in the fourth quarter worth about $172,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Heritage Commerce in the second quarter worth about $175,000. 70.20% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have commented on HTBK. Brean Capital reissued a “buy” rating on shares of Heritage Commerce in a report on Tuesday, January 2nd. BidaskClub cut Heritage Commerce from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. ValuEngine cut Heritage Commerce from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. Zacks Investment Research cut Heritage Commerce from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, DA Davidson raised Heritage Commerce from a “neutral” rating to a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $17.25.

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About Heritage Commerce

Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.

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