Heritage Commerce Corp (NASDAQ:HTBK) Short Interest Update

Heritage Commerce Corp (NASDAQ:HTBK) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 551,700 shares, an increase of 30.2% from the January 31st total of 423,800 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average daily trading volume, of 369,300 shares, the short-interest ratio is currently 1.5 days.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. StockNews.com upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Stephens raised shares of Heritage Commerce from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating for the company in a research note on Friday, January 24th.

Insider Buying and Selling

In other Heritage Commerce news, Director Jack W. Conner sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $10.52, for a total transaction of $42,080.00. Following the transaction, the director now owns 108,512 shares in the company, valued at approximately $1,141,546.24. This represents a 3.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.99% of the stock is owned by insiders.

Hedge Funds Weigh In On Heritage Commerce

A number of hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 worth $318,000 after purchasing an additional 1,115 shares in the last quarter. First Trust Advisors LP increased its holdings 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 worth $360,000 after buying an additional 1,297 shares in the last quarter. Franklin Resources Inc. increased its holdings in Heritage Commerce by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 46,089 shares of the financial services provider’s stock worth $449,000 after buying an additional 1,302 shares in the last quarter. US Bancorp DE lifted its stake in Heritage Commerce by 64.8% during the 4th 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. Finally, Princeton Capital Management LLC boosted its holdings in shares of Heritage Commerce by 13.3% during the 4th quarter. Princeton Capital Management LLC now owns 17,041 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 2,000 shares during the last quarter. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Commerce Stock Down 0.2 %

Heritage Commerce stock traded down $0.03 during mid-day trading on Thursday, hitting $10.06. The company had a trading volume of 51,384 shares, compared to its average volume of 404,706. Heritage Commerce has a 12 month low of $7.66 and a 12 month high of $11.27. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average price is $9.79 and its two-hundred day moving average price is $9.96. The company has a market capitalization of $616.40 million, a PE ratio of 15.22 and a beta of 0.96.

Heritage Commerce (NASDAQ:HTBK) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. As a group, sell-side analysts anticipate that Heritage Commerce will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 5.17%. The ex-dividend date was Thursday, February 6th. Heritage Commerce’s dividend payout ratio (DPR) is currently 78.79%.

Heritage Commerce Company Profile

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.