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Shares of Heritage Commerce Corp (NASDAQ:HTBK – Get Rating) hit a new 52-week high on Tuesday after an insider bought additional shares in the company. The company traded as high as $14.46 and last traded at $14.34, with a volume of 183 shares trading hands. The stock had previously closed at $14.14.Specifically, CEO Walter Theodore Kaczmarek sold 21,419 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $11.63, for a total transaction of $249,102.97. Following the sale, the chief executive officer now owns 108,206 shares in the company, valued at $1,258,435.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Walter Theodore Kaczmarek sold 21,419 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $11.63, for a total value of $249,102.97. Following the completion of the sale, the chief executive officer now owns 108,206 shares in the company, valued at approximately $1,258,435.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jason Philip Dinapoli purchased 6,175 shares of Heritage Commerce stock in a transaction on Thursday, November 10th. The shares were acquired at an average price of $14.35 per share, for a total transaction of $88,611.25. Following the completion of the transaction, the director now directly owns 333,475 shares of the company’s stock, valued at $4,785,366.25. The disclosure for this purchase can be found here. 4.05% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on HTBK shares. StockNews.com assumed coverage on Heritage Commerce in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Raymond James lowered Heritage Commerce from a “strong-buy” rating to an “outperform” rating in a research report on Monday, October 31st. Piper Sandler boosted their price objective on Heritage Commerce to $15.00 in a research report on Tuesday, November 1st. Finally, DA Davidson increased their price objective on Heritage Commerce to $16.50 in a research note on Tuesday, November 1st.
Heritage Commerce Price Performance
The firm has a market cap of $871.33 million, a P/E ratio of 14.43 and a beta of 1.01. The business has a 50-day simple moving average of $12.54 and a 200 day simple moving average of $11.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.69 and a current ratio of 0.69.
Heritage Commerce Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Monday, November 7th. Heritage Commerce’s payout ratio is 53.06%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in HTBK. Price T Rowe Associates Inc. MD boosted its holdings in shares of Heritage Commerce by 0.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,912,961 shares of the financial services provider’s stock valued at $63,210,000 after buying an additional 50,779 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Heritage Commerce by 3.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,936,998 shares of the financial services provider’s stock valued at $33,306,000 after purchasing an additional 105,682 shares in the last quarter. FJ Capital Management LLC increased its position in Heritage Commerce by 39.6% during the 1st quarter. FJ Capital Management LLC now owns 2,233,573 shares of the financial services provider’s stock valued at $25,128,000 after buying an additional 633,573 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Heritage Commerce by 0.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,090,718 shares of the financial services provider’s stock worth $23,521,000 after purchasing an additional 6,747 shares during the last quarter. Finally, Granite Investment Partners LLC lifted its position in Heritage Commerce by 14.0% in the 1st quarter. Granite Investment Partners LLC now owns 1,606,625 shares of the financial services provider’s stock valued at $18,075,000 after acquiring an additional 197,301 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.
About Heritage Commerce
(Get Rating)
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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