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

Heritage Commerce Corp (NASDAQ:HTBK)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.02 and traded as high as $13.41. Heritage Commerce shares last traded at $13.30, with a volume of 380,941 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. DA Davidson reaffirmed a “neutral” rating and set a $14.50 price target on shares of Heritage Commerce in a research note on Wednesday, February 4th. Raymond James Financial downgraded shares of Heritage Commerce from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 7th. Stephens reiterated an “equal weight” rating on shares of Heritage Commerce in a research report on Monday, January 5th. Wall Street Zen lowered shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Saturday, December 20th. Finally, Janney Montgomery Scott lowered shares of Heritage Commerce from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $12.00 to $14.00 in a report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Heritage Commerce has a consensus rating of “Hold” and an average price target of $12.25.

Heritage Commerce Trading Up 0.5%

The company’s fifty day simple moving average is $12.61 and its two-hundred day simple moving average is $11.03. The company has a market capitalization of $818.75 million, a price-to-earnings ratio of 17.05 and a beta of 0.80. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.05. Heritage Commerce had a return on equity of 8.10% and a net margin of 17.77%.The company had revenue of $53.62 million during the quarter, compared to the consensus estimate of $50.78 million. Research analysts forecast that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Thursday, February 5th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, February 5th. Heritage Commerce’s dividend payout ratio (DPR) is currently 66.67%.

Institutional Trading of Heritage Commerce

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Heritage Commerce by 11.0% in the third quarter. Vanguard Group Inc. now owns 3,946,682 shares of the financial services provider’s stock valued at $39,191,000 after purchasing an additional 390,978 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Heritage Commerce by 2.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,883,705 shares of the financial services provider’s stock valued at $18,705,000 after acquiring an additional 44,948 shares in the last quarter. Boston Partners raised its holdings in Heritage Commerce by 52.1% during the third quarter. Boston Partners now owns 1,676,777 shares of the financial services provider’s stock worth $16,636,000 after acquiring an additional 574,070 shares in the last quarter. HoldCo Asset Management LP acquired a new position in Heritage Commerce during the second quarter valued at approximately $16,121,000. Finally, Geode Capital Management LLC boosted its position in Heritage Commerce by 5.9% during the second quarter. Geode Capital Management LLC now owns 1,565,168 shares of the financial services provider’s stock valued at $15,544,000 after purchasing an additional 87,229 shares during the last quarter. Institutional investors own 75.55% of the company’s stock.

About Heritage Commerce

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.