Heritage Commerce Corp (NASDAQ:HTBK) to Issue Quarterly Dividend of $0.13

Heritage Commerce Corp (NASDAQ:HTBK) declared a quarterly dividend on Wednesday, March 11th. Investors of record on Wednesday, March 25th will be paid a dividend of 0.13 per share by the financial services provider on Wednesday, April 8th. This represents a c) annualized dividend and a yield of 4.3%. The ex-dividend date is Wednesday, March 25th.

Heritage Commerce has a payout ratio of 60.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Heritage Commerce to earn $0.90 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 57.8%.

Heritage Commerce Price Performance

Shares of Heritage Commerce stock opened at $12.15 on Thursday. The firm has a market cap of $747.95 million, a P/E ratio of 15.58 and a beta of 0.79. The firm’s 50-day simple moving average is $12.82 and its 200-day simple moving average is $11.43. Heritage Commerce has a twelve month low of $8.09 and a twelve month high of $13.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.74.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05. Heritage Commerce had a return on equity of 8.07% and a net margin of 17.77%.The company had revenue of $104.04 million for the quarter, compared to analyst estimates of $50.78 million. As a group, research analysts expect that Heritage Commerce will post 0.8 EPS for the current fiscal year.

Heritage Commerce Company Profile

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.