Heritage Commerce Corp (NASDAQ:HTBK) announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01, Bloomberg Earnings reports. The business had revenue of $28.78 million during the quarter, compared to the consensus estimate of $28.70 million. Heritage Commerce Corp had a net margin of 26.40% and a return on equity of 11.15%.
Shares of Heritage Commerce Corp (NASDAQ:HTBK) traded up $0.03 during mid-day trading on Friday, hitting $14.72. 38,900 shares of the stock traded hands, compared to its average volume of 91,482. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.77. Heritage Commerce Corp has a 12 month low of $11.67 and a 12 month high of $15.55. The stock has a market cap of $562.30, a price-to-earnings ratio of 19.12, a P/E/G ratio of 1.83 and a beta of 0.49.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $0.40 annualized dividend and a yield of 2.72%. Heritage Commerce Corp’s dividend payout ratio (DPR) is 51.95%.
In other news, Director Komas Julianne M. Biagini sold 3,650 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $13.65, for a total transaction of $49,822.50. Following the completion of the sale, the director now owns 25,696 shares in the company, valued at approximately $350,750.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.69% of the company’s stock.
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A number of analysts recently weighed in on the company. Zacks Investment Research raised shares of Heritage Commerce Corp from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Tuesday, October 31st. Brean Capital reissued a “buy” rating on shares of Heritage Commerce Corp in a research report on Monday, October 30th. BidaskClub cut shares of Heritage Commerce Corp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Finally, ValuEngine cut shares of Heritage Commerce Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Heritage Commerce Corp currently has an average rating of “Hold” and a consensus target price of $16.00.
About Heritage Commerce Corp
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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