Heritage Commerce Corp. (NASDAQ:HTBK) Director Jack W. Conner sold 24,500 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was 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 of the company’s stock, valued at $1,289,022.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of Heritage Commerce Corp. (HTBK) opened at $15.71 on Tuesday. The company has a market capitalization of $600.11, a price-to-earnings ratio of 25.34, a PEG ratio of 1.51 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.14. Heritage Commerce Corp. has a 12-month low of $12.76 and a 12-month high of $16.80.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Wednesday, February 7th. This is a boost from Heritage Commerce’s previous quarterly dividend of $0.10. Heritage Commerce’s dividend payout ratio (DPR) is 70.97%.

Several research firms have recently weighed in on HTBK. Zacks Investment Research lowered Heritage Commerce from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Brean Capital set a $18.00 price objective on Heritage Commerce and gave the stock a “buy” rating in a research note on Friday, January 12th. BidaskClub raised Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. ValuEngine lowered Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Finally, DA Davidson raised Heritage Commerce from a “neutral” rating to a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Heritage Commerce currently has a consensus rating of “Hold” and a consensus target price of $17.25.

Institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. boosted its position in shares of Heritage Commerce by 79.7% in the second quarter. Alliancebernstein L.P. now owns 24,126 shares of the financial services provider’s stock worth $332,000 after buying an additional 10,700 shares during the period. Vanguard Group Inc. boosted its position in shares of Heritage Commerce by 11.2% in the second quarter. Vanguard Group Inc. now owns 1,550,961 shares of the financial services provider’s stock worth $21,373,000 after buying an additional 155,957 shares during the period. State Street Corp boosted its position in shares of Heritage Commerce by 36.1% in the second quarter. State Street Corp now owns 558,166 shares of the financial services provider’s stock worth $7,693,000 after buying an additional 148,073 shares during the period. Swiss National Bank acquired a new stake in shares of Heritage Commerce in the second quarter worth $827,000. Finally, Northern Trust Corp boosted its position in shares of Heritage Commerce by 27.2% in the second quarter. Northern Trust Corp now owns 383,857 shares of the financial services provider’s stock worth $5,289,000 after buying an additional 82,186 shares during the period. 70.20% of the stock is owned by institutional investors and hedge funds.

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Heritage Commerce Company Profile

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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