Heritage Commerce (NASDAQ:HTBK) Hits New 52-Week High – Still a Buy?

Heritage Commerce Corp (NASDAQ:HTBK)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $11.21 and last traded at $11.15, with a volume of 19850 shares changing hands. The stock had previously closed at $10.91.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Heritage Commerce from a “hold” rating to a “sell” rating in a report on Tuesday.

Heritage Commerce Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $657.75 million, a price-to-earnings ratio of 15.11 and a beta of 0.93. The stock’s 50 day simple moving average is $10.03 and its 200-day simple moving average is $9.42.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $63.68 million during the quarter, compared to analyst estimates of $43.14 million. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. On average, analysts expect that Heritage Commerce Corp will post 0.66 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date was Thursday, November 7th. Heritage Commerce’s dividend payout ratio is 73.24%.

Institutional Investors Weigh In On Heritage Commerce

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC acquired a new position in Heritage Commerce during the third quarter valued at approximately $73,000. FMR LLC lifted its stake in shares of Heritage Commerce by 103.7% in the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after buying an additional 3,987 shares during the last quarter. CWM LLC boosted its holdings in shares of Heritage Commerce by 148.0% during the 2nd quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock worth $86,000 after buying an additional 5,929 shares during the period. ProShare Advisors LLC acquired a new position in Heritage Commerce in the 1st quarter valued at $91,000. Finally, One Wealth Advisors LLC bought a new position in Heritage Commerce in the 3rd quarter worth $99,000. 75.55% of the stock is currently owned by institutional investors and hedge funds.

About Heritage Commerce

Heritage Commerce Corp operates as the bank holding company for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.