Heritage Commerce Corp (NASDAQ:HTBK) Announces Quarterly Dividend of $0.13

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 paid a dividend of 0.13 per share by the financial services provider on Thursday, February 20th. This represents a $0.52 annualized dividend and a dividend yield of 5.66%.

Heritage Commerce has a dividend payout ratio of 63.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NASDAQ HTBK traded up $0.07 during mid-day trading on Thursday, hitting $9.19. 309,596 shares of the stock traded hands, compared to its average volume of 318,769. The company has a market cap of $563.35 million, a PE ratio of 12.94 and a beta of 0.96. Heritage Commerce has a twelve month low of $7.66 and a twelve month high of $11.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a 50 day simple moving average of $9.89 and a two-hundred day simple moving average of $9.87.

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

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th.

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.