November 23, 2016 - By Winifred Garcia
Heritage Commerce Corp director and an insider John Eggemeyer in the last few days sold 739,137 company shares having a worth of $8,970,906 at an avg stock price per share of $12.1. It seems he is very active lately as in the last month, he silently sold additional 3,024,088 shares of the company, worth $35,686,016 USD. Because it was a significant one transaction, it’s not likely to remain undiscovered one. John Eggemeyer presently owns 3,702 shares or 0.01% of the Company’s market cap (share price times the number of shares outstanding). This insider sale, was made on November 23, 2016. It’s available online at the SEC’s website and can be seen at this page.
Out of 4 analysts covering Heritage Commerce (NASDAQ:HTBK), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. $12 is the highest target while $0.50 is the lowest. The $7.50 average target is -40.24% below today’s ($12.55) stock price. Heritage Commerce has been the topic of 7 analyst reports since July 28, 2015 according to StockzIntelligence Inc. As per Tuesday, October 27, the company rating was downgraded by FIG Partners. The firm has “Hold” rating by Sandler O’Neill given on Monday, September 28. The firm earned “Buy” rating on Monday, November 23 by Sandler O’Neill.
Insitutional Activity: The institutional sentiment increased to 1.74 in 2016 Q2. Its up 0.57, from 1.17 in 2016Q1. The ratio improved, as 7 funds sold all Heritage Commerce Corp. shares owned while 28 reduced positions. 12 funds bought stakes while 29 increased positions. They now own 19.52 million shares or 1.13% more from 19.30 million shares in 2016Q1.
Vanguard Group has 1.33 million shares for 0% of their US portfolio. Metropolitan Life New York accumulated 0% or 15,968 shares. New York State Common Retirement Fund has invested 0% of its portfolio in Heritage Commerce Corp. (NASDAQ:HTBK). Deutsche National Bank & Trust Ag holds 0% or 21,890 shares in its portfolio. Rmb Capital Management Ltd Limited Liability Company has 158,448 shares for 0.09% of their US portfolio. Susquehanna Intll Llp owns 17,467 shares or 0% of their US portfolio. Winfield Associate accumulated 0.02% or 2,392 shares. Renaissance Tech Ltd Liability Company reported 285,900 shares or 0.01% of all its holdings. Legal General Gru Public Limited Company has invested 0% of its portfolio in Heritage Commerce Corp. (NASDAQ:HTBK). The Ohio-based Elizabeth Park Capital Advsr Limited has invested 1.86% in Heritage Commerce Corp. (NASDAQ:HTBK). Penn Cap Management accumulated 0.1% or 169,751 shares. Blackrock Inv Mgmt Ltd Com accumulated 108,973 shares or 0% of the stock. Paragon Assocs And Paragon Assocs Ii Joint Venture last reported 100,000 shares in the company. Manufacturers Life Insur Communication The reported 1.12 million shares or 0.02% of all its holdings. Fort Point Prtn Ltd Liability Corporation owns 63,682 shares or 0.33% of their US portfolio.
Insider Transactions: Since May 25, 2016, the stock had 2 insider buys, and 21 sales for $50.98 million net activity. Shares for $948,832 were sold by WYCOFF W KIRK on Thursday, August 25. On Friday, August 19 Conner Jack W sold $3,462 worth of the stock or 300 shares. DINAPOLI J PHILIP bought $10,778 worth of stock. 915,000 shares were sold by EGGEMEYER JOHN M III, worth $10.71M on Monday, August 29. $30,451 worth of Heritage Commerce Corp. (NASDAQ:HTBK) was sold by BIAGINI KOMAS JULIANNE M.
About 167,652 shares traded hands. Heritage Commerce Corp. (NASDAQ:HTBK) has risen 24.23% since April 21, 2016 and is uptrending. It has outperformed by 18.90% the S&P500.
Heritage Commerce Corp is a bank holding company. The company has a market cap of $474.83 million. The Company, through its subsidiary Heritage Bank of Commerce , provides a range of banking services. It has a 19.46 P/E ratio. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
According to Zacks Investment Research, “Heritage Commerce Corp. is the holding company of Heritage Bank of Commerce, Heritage Bank East Bay, Heritage Bank South Valley and Bank of Los Altos. The company offers a range of loans, primarily commercial, including real estate, construction, Small Business Administration), inventory and accounts receivable, and equipment loans. The company also accepts checking, savings, and time deposits; NOW and money market deposit accounts; and provides travelers’ checks, safe deposit, and other customary non-deposit banking services.”
Analysts await Heritage Commerce Corp. (NASDAQ:HTBK) to report earnings on January, 26. They expect $0.19 EPS, up 58.33% or $0.07 from last year’s $0.12 per share. HTBK’s profit will be $7.19M for 16.51 P/E if the $0.19 EPS becomes a reality. After $0.18 actual EPS reported by Heritage Commerce Corp. for the previous quarter, Wall Street now forecasts 5.56% EPS growth.
More notable recent Heritage Commerce Corp. (NASDAQ:HTBK) news were published by: Reuters.com which released: “BRIEF-Heritage Commerce Corp posts Q3 earnings per share $0.18” on October 28, 2016, also Globenewswire.com with their article: “Heritage Commerce Corp Named to Sandler O’Neill Bank and Thrift Sm-All Stars ..” published on September 28, 2016, Globenewswire.com published: “Heritage Commerce Corp and Focus Business Bank Plan to Merge” on April 23, 2015. More interesting news about Heritage Commerce Corp. (NASDAQ:HTBK) were released by: Nasdaq.com and their article: “Heritage Commerce Corp (HTBK) Ex-Dividend Date Scheduled for November 04, 2016” published on November 03, 2016 as well as Globenewswire.com‘s news article titled: “Heritage Commerce Corp Announces the Completion of Its Merger With Focus ..” with publication date: August 21, 2015.
Heritage Commerce Corp, incorporated on October 9, 1997, is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees. The Firm operates through approximately 10 service branch offices located in the southern and eastern regions of the general San Francisco Bay Area of California in the counties of Santa Clara, Alameda, Contra Costa and San Benito. The Company’s subsidiary BVF/CSNK Acquisition Corp. provides business-essential working capital factoring financing to various industries across the United States.
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