Heritage Commerce Corp (HTBK) To Go Ex-Dividend on February 6th

Heritage Commerce Corp (NASDAQ:HTBK) declared a quarterly dividend on Thursday, January 23rd,RTT News reports. Stockholders of record on Thursday, February 6th will be given a dividend of 0.13 per share by the financial services provider on Thursday, February 20th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date of this dividend is Thursday, February 6th.

Heritage Commerce has a payout ratio of 63.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Heritage Commerce to earn $0.72 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 72.2%.

Heritage Commerce Stock Performance

NASDAQ:HTBK opened at $9.54 on Friday. Heritage Commerce has a twelve month low of $7.66 and a twelve month high of $11.27. The firm’s fifty day simple moving average is $9.84 and its 200 day simple moving average is $9.87. 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 firm has a market capitalization of $584.80 million, a price-to-earnings ratio of 13.44 and a beta of 0.96.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. As a group, equities research analysts expect that Heritage Commerce will post 0.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on HTBK. StockNews.com upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods reduced their price objective 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.

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.