Heritage Commerce (NASDAQ:HTBK) Share Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Shares of Heritage Commerce Corp (NASDAQ:HTBK - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-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 trading hands.

Wall Street Analyst Weigh In

Several brokerages have commented on HTBK. Wall Street Zen upgraded Heritage Commerce from a "sell" rating to a "hold" rating in a report on Friday. Stephens restated an "overweight" rating and issued a $11.00 price objective on shares of Heritage Commerce in a research note on Monday, April 28th. Raymond James Financial set a $10.00 price objective on shares of Heritage Commerce in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Heritage Commerce from $11.50 to $11.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th.

Heritage Commerce Stock Performance

The stock has a market capitalization of $611.69 million, a P/E ratio of 14.60 and a beta of 0.79. The firm has a 50-day moving average of $9.31 and a 200 day moving average of $9.47. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $46.06 million during the quarter, compared to analysts' expectations of $45.89 million. Heritage Commerce had a return on equity of 6.11% and a net margin of 16.38%. Research analysts anticipate that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were given a $0.13 dividend. The ex-dividend date was Thursday, May 8th. This represents a $0.52 annualized dividend and a yield of 5.24%. Heritage Commerce's dividend payout ratio (DPR) is currently 76.47%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Heritage Commerce by 143.5% during the first quarter. PNC Financial Services Group Inc. now owns 2,851 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 1,680 shares during the period. Quarry LP lifted its holdings in shares of Heritage Commerce by 562.4% during the fourth quarter. Quarry LP now owns 3,153 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 2,677 shares during the period. US Bancorp DE lifted its holdings in shares of 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 acquiring an additional 1,365 shares during the period. Two Sigma Securities LLC bought a new position in shares of Heritage Commerce during the fourth quarter valued at $97,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Heritage Commerce during the fourth quarter valued at $99,000. 75.55% of the stock is owned by institutional investors.

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.

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