Heritage Commerce (NASDAQ:HTBK) Shares Gap Down – Here’s What Happened

Heritage Commerce Corp (NASDAQ:HTBKGet Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $10.65, but opened at $10.21. Heritage Commerce shares last traded at $10.61, with a volume of 23,487 shares changing hands.

Analyst Upgrades and Downgrades

HTBK has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of 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 upgraded Heritage Commerce from an “equal weight” rating to an “overweight” rating in a report on Friday, February 7th.

Read Our Latest Report on HTBK

Heritage Commerce Stock 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 company’s fifty day moving average price is $9.68 and its 200 day moving average price is $9.90. The company has a market cap of $658.98 million, a PE ratio of 16.29 and a beta of 0.96.

Heritage Commerce (NASDAQ:HTBKGet Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. On average, equities research analysts predict that Heritage Commerce Corp will post 0.8 earnings per share for the current year.

Heritage Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, February 6th. This represents a $0.52 dividend on an annualized basis and a yield of 4.84%. Heritage Commerce’s dividend payout ratio (DPR) is currently 78.79%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HTBK. Quarry LP increased its position in shares of Heritage Commerce by 562.4% during the 4th quarter. Quarry LP now owns 3,153 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 2,677 shares during the last quarter. US Bancorp DE grew its position in Heritage Commerce by 64.8% during the fourth quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock valued at $33,000 after buying an additional 1,365 shares during the period. FMR LLC increased its holdings in Heritage Commerce by 103.7% during 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. Two Sigma Securities LLC purchased a new stake in Heritage Commerce during the fourth quarter worth about $97,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Heritage Commerce in the fourth quarter worth about $99,000. Hedge funds and other institutional investors own 75.55% of the company’s stock.

About Heritage Commerce

(Get Free Report)

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.

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