Heritage Commerce Corp (NASDAQ:HTBK – Get Free Report) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Stockholders of record on Thursday, November 7th will be given a dividend of 0.13 per share by the financial services provider on Thursday, November 21st. This represents a $0.52 annualized dividend and a dividend yield of 5.47%. The ex-dividend date of this dividend is Thursday, November 7th.
Heritage Commerce has a dividend payout ratio of 72.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Heritage Commerce to earn $0.74 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 70.3%.
Heritage Commerce Stock Down 1.9 %
HTBK stock traded down $0.18 on Friday, reaching $9.51. 255,574 shares of the company traded hands, compared to its average volume of 300,651. The firm has a fifty day simple moving average of $9.83 and a 200-day simple moving average of $9.07. The company has a market cap of $582.87 million, a P/E ratio of 11.89 and a beta of 0.93. Heritage Commerce has a one year low of $7.66 and a one year high of $10.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.76.
Analyst Upgrades and Downgrades
HTBK has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on shares of Heritage Commerce from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods lifted their target price on Heritage Commerce from $10.50 to $11.50 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, StockNews.com cut Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th.
Get Our Latest Research Report on Heritage Commerce
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.
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