Heritage Commerce - HTBK Stock Forecast, Price & News

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. The company's loan portfolio comprises commercial loans, such as operating secured and unsecured loans advanced for working capital, equipment purchases, and other business purposes; commercial real estate loans; commercial construction loans for rental properties, commercial buildings, and homes; small business administration loans; home equity lines of credit; multifamily loans on residential properties; residential mortgage loans; and consumer loans consisting of loans for financing automobiles, various consumer goods, and other personal purposes. In addition, it offers other banking services, including cashier's checks, bank by mail, night depositories, safe deposit boxes, direct deposit, automated payroll, electronic funds transfer, online bill pay, homeowner association, remote deposit capture, automated clearing house origination, electronic data interchange, and check imaging services, as well as other customary banking, factoring financing, and electronic banking services. The company operates through 17 full-service branch offices located in the general San Francisco Bay Area of California. Heritage Commerce Corp was founded in 1994 and is headquartered in San Jose, California.

Wall Street Analysts Forecast Growth

Separately, Raymond James upgraded shares of Heritage Commerce from an "outperform" rating to a "strong-buy" rating and set a $13.00 price objective for the company in a report on Thursday, July 7th.

Heritage Commerce Stock Up 2.9 %

Heritage Commerce stock traded up $0.33 during trading on Friday, reaching $11.85. The stock had a trading volume of 235,707 shares, compared to its average volume of 118,638. Heritage Commerce has a 52-week low of $10.42 and a 52-week high of $12.94. The business has a 50 day moving average price of $11.13 and a 200 day moving average price of $11.46. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.07. The stock has a market cap of $716.21 million, a PE ratio of 13.02 and a beta of 1.01.

Heritage Commerce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Thursday, August 11th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $0.52 dividend on an annualized basis and a yield of 4.39%. Heritage Commerce's dividend payout ratio is currently 57.14%.

Insider Buying and Selling

In related news, CFO Lawrence D. Mcgovern sold 2,500 shares of Heritage Commerce stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $11.37, for a total value of $28,425.00. Following the completion of the transaction, the chief financial officer now owns 94,079 shares in the company, valued at $1,069,678.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Lawrence D. Mcgovern sold 4,550 shares of the business's stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $11.42, for a total transaction of $51,961.00. Following the completion of the sale, the chief financial officer now owns 89,529 shares in the company, valued at approximately $1,022,421.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Lawrence D. Mcgovern sold 2,500 shares of the business's stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $11.37, for a total transaction of $28,425.00. Following the sale, the chief financial officer now owns 94,079 shares of the company's stock, valued at approximately $1,069,678.23. The disclosure for this sale can be found here. 4.05% of the stock is owned by insiders.