Heritage Commerce Corp (HTBK) To Go Ex-Dividend on May 8th

Heritage Commerce Corp (NASDAQ:HTBK) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Thursday, May 9th will be paid a dividend of 0.13 per share by the financial services provider on Thursday, May 23rd. This represents a $0.52 annualized dividend and a dividend yield of 6.16%. The ex-dividend date of this dividend is Wednesday, May 8th.

Heritage Commerce has a dividend payout ratio of 64.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Heritage Commerce to earn $0.83 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 62.7%.

Heritage Commerce Stock Performance

Shares of HTBK opened at $8.44 on Monday. Heritage Commerce has a 1 year low of $6.69 and a 1 year high of $10.22. The stock has a market capitalization of $516.95 million, a P/E ratio of 9.17 and a beta of 0.91. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77. The company’s fifty day moving average is $8.23 and its two-hundred day moving average is $8.69.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings results on Friday, April 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The firm had revenue of $59.60 million for the quarter, compared to analyst estimates of $43.83 million. Heritage Commerce had a return on equity of 8.40% and a net margin of 22.84%. On average, sell-side analysts predict that Heritage Commerce will post 0.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Keefe, Bruyette & Woods reduced their price target on Heritage Commerce from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, January 26th. StockNews.com downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. Finally, Piper Sandler dropped their target price on shares of Heritage Commerce from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.50.

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.