Heritage Commerce Corp. (NASDAQ:HTBK) Director Jack W. Conner sold 24,500 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $15.47, for a total value of $379,015.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Heritage Commerce Corp. (NASDAQ HTBK) traded up $0.07 on Monday, reaching $15.40. The company had a trading volume of 149,800 shares, compared to its average volume of 168,339. Heritage Commerce Corp. has a fifty-two week low of $12.76 and a fifty-two week high of $16.80. The company has a market capitalization of $588.29, a price-to-earnings ratio of 24.84, a PEG ratio of 1.51 and a beta of 0.61. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.14.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Thursday, February 8th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.86%. The ex-dividend date is Wednesday, February 7th. This is a positive change from Heritage Commerce’s previous quarterly dividend of $0.10. Heritage Commerce’s dividend payout ratio is presently 70.97%.
HTBK has been the subject of a number of research analyst reports. Zacks Investment Research cut Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. BidaskClub cut Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Brean Capital set a $16.00 target price on Heritage Commerce and gave the company a “buy” rating in a research note on Monday, October 23rd. Finally, ValuEngine lowered Heritage Commerce from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $17.25.
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About Heritage Commerce
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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