Thomas A. Sa Acquires 20,000 Shares of Heritage Commerce Corp (NASDAQ:HTBK) Stock

Key Points

• Thomas A. Sa, COO of Heritage Commerce Corp, purchased 20,000 shares at $9.25 each, totaling $185,000, significantly increasing his ownership stake in the company.
• Heritage Commerce recently reported earnings of $0.21 per share, exceeding analysts' expectations and demonstrating a net margin of 15% on revenue of $47.78 million for the quarter.
• A quarterly dividend of $0.13 was declared, reflecting an annual yield of **5.6%** with a dividend payout ratio of **82.54%**.

Heritage Commerce Corp (NASDAQ:HTBK - Get Free Report) COO Thomas A. Sa acquired 20,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average cost of $9.25 per share, for a total transaction of $185,000.00. Following the purchase, the chief operating officer directly owned 20,000 shares of the company's stock, valued at $185,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Heritage Commerce Stock Down 0.2%

HTBK stock traded down $0.02 during midday trading on Friday, hitting $9.30. The company's stock had a trading volume of 519,853 shares, compared to its average volume of 668,930. The firm's 50-day moving average is $9.78 and its 200-day moving average is $9.60. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a 12 month low of $8.09 and a 12 month high of $11.27. The company has a market cap of $572.88 million, a PE ratio of 14.76 and a beta of 0.85.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. Heritage Commerce had a return on equity of 6.62% and a net margin of 15.00%. The firm had revenue of $47.78 million for the quarter, compared to the consensus estimate of $47.17 million. On average, equities research analysts forecast that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be paid a $0.13 dividend. The ex-dividend date is Thursday, August 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.6%. Heritage Commerce's payout ratio is currently 82.54%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Creative Planning boosted its holdings in Heritage Commerce by 38.5% in the second quarter. Creative Planning now owns 173,005 shares of the financial services provider's stock worth $1,718,000 after purchasing an additional 48,130 shares during the last quarter. Geode Capital Management LLC raised its stake in Heritage Commerce by 5.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,565,168 shares of the financial services provider's stock valued at $15,544,000 after buying an additional 87,229 shares during the last quarter. Boston Partners lifted its holdings in shares of Heritage Commerce by 2.1% during the 2nd quarter. Boston Partners now owns 1,102,707 shares of the financial services provider's stock valued at $10,818,000 after buying an additional 22,264 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of Heritage Commerce during the 2nd quarter valued at $389,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Heritage Commerce in the 2nd quarter worth $107,000. 75.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on HTBK. Raymond James Financial set a $10.00 target price on Heritage Commerce in a report on Monday, April 28th. Wall Street Zen lowered Heritage Commerce from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Stephens reissued an "overweight" rating and set a $11.00 price objective on shares of Heritage Commerce in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Heritage Commerce from $11.50 to $11.00 and set an "outperform" rating for the company in a research note on Friday, April 25th.

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.