Heritage Commerce Corp (NASDAQ:HTBK) Short Interest Update

Heritage Commerce Corp (NASDAQ:HTBK) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 520,200 shares, a growth of 12.8% from the October 31st total of 461,100 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily volume of 357,000 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HTBK. nVerses Capital LLC bought a new position in Heritage Commerce during the third quarter valued at approximately $73,000. FMR LLC grew its holdings in shares of Heritage Commerce by 103.7% during the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 3,987 shares during the period. CWM LLC lifted its stake in Heritage Commerce by 148.0% during the second quarter. CWM LLC now owns 9,936 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 5,929 shares during the last quarter. One Wealth Advisors LLC purchased a new stake in Heritage Commerce in the 3rd quarter valued at approximately $99,000. Finally, NorthCrest Asset Manangement LLC purchased a new position in Heritage Commerce in the 3rd quarter valued at about $100,000. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Stock Performance

Shares of Heritage Commerce stock traded down $0.07 during trading on Tuesday, reaching $10.52. The company’s stock had a trading volume of 38,161 shares, compared to its average volume of 386,736. The company has a 50-day moving average price of $10.08 and a two-hundred day moving average price of $9.50. 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 cap of $644.88 million, a PE ratio of 14.92 and a beta of 0.94. Heritage Commerce has a fifty-two week low of $7.66 and a fifty-two week high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $63.68 million for the quarter, compared to the consensus estimate of $43.14 million. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. On average, analysts forecast that Heritage Commerce will post 0.66 EPS for the current year.

Heritage Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date was Thursday, November 7th. Heritage Commerce’s dividend payout ratio (DPR) is presently 73.24%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday, November 26th.

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.