Heritage Commerce (NASDAQ:HTBK) Shares Pass Above 200 Day Moving Average - What's Next?

Heritage Commerce Corp (NASDAQ:HTBK - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.47 and traded as high as $10.00. Heritage Commerce shares last traded at $9.93, with a volume of 1,091,154 shares changing hands.

Wall Street Analyst Weigh In

HTBK has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Heritage Commerce from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Keefe, Bruyette & Woods reduced their target price 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. Stephens reiterated an "overweight" rating and set a $11.00 target price on shares of Heritage Commerce in a report on Monday, April 28th. Finally, Raymond James Financial set a $10.00 price target on Heritage Commerce in a research note on Monday, April 28th.

Heritage Commerce Stock Up 1.1%

The stock's fifty day moving average price is $9.43 and its 200-day moving average price is $9.49. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $658.20 million, a price-to-earnings ratio of 15.71 and a beta of 0.81.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Heritage Commerce had a net margin of 16.38% and a return on equity of 6.11%. The firm had revenue of $46.06 million for the quarter, compared to analyst estimates of $45.89 million. On average, sell-side analysts predict that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $0.52 annualized dividend and a yield of 4.87%. Heritage Commerce's dividend payout ratio (DPR) is presently 76.47%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HTBK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Heritage Commerce by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,920 shares of the financial services provider's stock valued at $318,000 after buying an additional 1,115 shares during the last quarter. First Trust Advisors LP lifted its stake in Heritage Commerce by 3.5% in the 4th quarter. First Trust Advisors LP now owns 38,379 shares of the financial services provider's stock valued at $360,000 after purchasing an additional 1,297 shares during the last quarter. US Bancorp DE raised its stake in Heritage Commerce by 64.8% in 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. SummerHaven Investment Management LLC lifted its position in shares of Heritage Commerce by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 90,202 shares of the financial services provider's stock valued at $859,000 after buying an additional 1,484 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Heritage Commerce by 143.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,851 shares of the financial services provider's stock worth $27,000 after acquiring an additional 1,680 shares during the period. Institutional investors and hedge funds own 75.55% of the company's stock.

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.