Heritage Commerce Corp (NASDAQ:HTBK) Short Interest Update

Heritage Commerce Corp (NASDAQ:HTBK) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 758,700 shares, a growth of 5.5% from the March 31st total of 718,900 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 401,800 shares, the short-interest ratio is currently 1.9 days.

Wall Street Analyst Weigh In

HTBK has been the topic of a number of research analyst reports. Raymond James raised their target price on shares of Heritage Commerce from $9.50 to $11.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Keefe, Bruyette & Woods cut their target price on shares of Heritage Commerce from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Piper Sandler cut their target price on shares of Heritage Commerce from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, April 26th. Finally, StockNews.com lowered shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Heritage Commerce currently has a consensus rating of “Hold” and a consensus target price of $10.50.

Heritage Commerce Price Performance

HTBK stock opened at $8.13 on Thursday. The company has a fifty day moving average price of $8.23 and a 200-day moving average price of $8.70. The company has a market capitalization of $497.96 million, a P/E ratio of 8.71 and a beta of 0.90. Heritage Commerce has a 52-week low of $6.69 and a 52-week high of $10.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Friday, April 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.02). The business had revenue of $59.60 million for the quarter, compared to the consensus estimate of $43.83 million. Heritage Commerce had a net margin of 22.84% and a return on equity of 8.40%. As a group, equities analysts expect that Heritage Commerce will post 0.74 EPS for the current year.

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date of this dividend is Wednesday, May 8th. Heritage Commerce’s dividend payout ratio is presently 56.52%.

Hedge Funds Weigh In On Heritage Commerce

A number of hedge funds have recently bought and sold shares of the company. Lindbrook Capital LLC raised its stake in Heritage Commerce by 47.7% during the fourth quarter. Lindbrook Capital LLC now owns 4,780 shares of the financial services provider’s stock worth $47,000 after buying an additional 1,543 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Heritage Commerce by 6.1% during the third quarter. Teacher Retirement System of Texas now owns 45,098 shares of the financial services provider’s stock worth $382,000 after buying an additional 2,583 shares during the last quarter. Swiss National Bank increased its stake in Heritage Commerce by 2.3% in the third quarter. Swiss National Bank now owns 134,000 shares of the financial services provider’s stock valued at $1,135,000 after purchasing an additional 3,000 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Heritage Commerce by 185.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 3,155 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Heritage Commerce by 5.5% in the third quarter. Federated Hermes Inc. now owns 81,122 shares of the financial services provider’s stock valued at $687,000 after purchasing an additional 4,220 shares in the last quarter. Institutional investors 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.