Robertson Clay Jones, Jr. Sells 5,145 Shares of Heritage Commerce Corp (NASDAQ:HTBK) Stock

Heritage Commerce Corp (NASDAQ:HTBK) CEO Robertson Clay Jones, Jr. sold 5,145 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.73, for a total value of $50,060.85. Following the completion of the transaction, the chief executive officer now directly owns 254,227 shares in the company, valued at $2,473,628.71. This represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Heritage Commerce Stock Performance

NASDAQ HTBK opened at $9.54 on Thursday. The company has a market cap of $584.83 million, a PE ratio of 14.45 and a beta of 0.92. The stock’s 50 day simple moving average is $9.83 and its 200-day simple moving average is $9.96. Heritage Commerce Corp has a 1-year low of $7.66 and a 1-year high of $11.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73.

Heritage Commerce (NASDAQ:HTBK) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. As a group, equities research analysts anticipate that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.13 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.45%. Heritage Commerce’s payout ratio is presently 78.79%.

Analysts Set New Price Targets

HTBK has been the topic of several analyst reports. Keefe, Bruyette & Woods dropped their target price on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating on the stock in a report on Friday, January 24th. StockNews.com raised Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Finally, Stephens raised Heritage Commerce from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd.

Institutional Investors Weigh In On Heritage Commerce

Institutional investors have recently modified their holdings of the company. State Street Corp grew its stake in shares of Heritage Commerce by 3.2% in the third quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock valued at $19,421,000 after buying an additional 61,630 shares in the last quarter. Barclays PLC grew its stake in shares of Heritage Commerce by 7.2% in the third quarter. Barclays PLC now owns 216,439 shares of the financial services provider’s stock valued at $2,139,000 after buying an additional 14,466 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Heritage Commerce by 58.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider’s stock valued at $4,350,000 after buying an additional 170,989 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Heritage Commerce by 55.6% in the third quarter. Jane Street Group LLC now owns 103,596 shares of the financial services provider’s stock valued at $1,024,000 after buying an additional 36,997 shares in the last quarter. Finally, FMR LLC grew 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 valued at $77,000 after buying an additional 3,987 shares in the last quarter. 75.55% of the stock is 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.