November 23, 2016 - By Peter Kolinski
Based on an average market price per share of $12.0, Kirk Wycoff, the Heritage Commerce Corp’s director made a sale of 1,000,000 shares of Heritage Commerce Corp worth exactly $12,000,000 US Dollars. This transaction was pretty big one, so clearly it won’t go ignored. Presently, he possess 2.93 million shares or roughly 7.67% of Heritage Commerce Corp’s total market capitalization.
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 -40.05% below today’s ($12.51) stock price. Heritage Commerce has been the topic of 7 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was downgraded by Sandler O’Neill on Monday, September 28 to “Hold”. The stock of Heritage Commerce Corp. (NASDAQ:HTBK) earned “Market Perform” rating by FIG Partners on Tuesday, October 27. 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.
Prudential Fin last reported 39,818 shares in the company. Ameriprise last reported 0% of its portfolio in the stock. Magee Thomson Inv Partners Ltd Liability holds 107 shares or 0% of its portfolio. Blackrock Grp Inc Incorporated has 0% invested in the company for 22,827 shares. Moreover, Bridgeway Mgmt has 0.02% invested in Heritage Commerce Corp. (NASDAQ:HTBK) for 109,950 shares. Rmb Capital Mgmt Limited Liability last reported 158,448 shares in the company. Panagora Asset Incorporated accumulated 0.01% or 205,936 shares. Globeflex Lp accumulated 0.09% or 32,151 shares. Consector Capital Ltd Partnership, a New York-based fund reported 79,878 shares. Paragon Assocs And Paragon Assocs Ii Joint Venture has 100,000 shares for 1.03% of their US portfolio. Alliancebernstein Limited Partnership last reported 165,046 shares in the company. Citigroup accumulated 0% or 4,810 shares. Fort Point Cap Llc has 63,682 shares for 0.33% of their US portfolio. Blackrock Institutional Na reported 1.45 million shares or 0% of all its holdings. Geode Capital Ltd Llc last reported 0% of its portfolio in the stock.
Insider Transactions: Since May 25, 2016, the stock had 2 buys, and 21 insider sales for $50.98 million net activity. EGGEMEYER JOHN M III had sold 2,975 shares worth $35,259 on Tuesday, August 30. $80,139 worth of Heritage Commerce Corp. (NASDAQ:HTBK) was sold by WYCOFF W KIRK on Thursday, September 8. $26,875 worth of shares were sold by BIAGINI KOMAS JULIANNE M on Wednesday, May 25. 1,000 shares were bought by DINAPOLI J PHILIP, worth $10,778 on Friday, June 3. The insider Conner Jack W sold 300 shares worth $3,462.
About 163,772 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 $473.32 million. The Company, through its subsidiary Heritage Bank of Commerce , provides a range of banking services. It has a 19.4 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 earnings per share, up 58.33% or $0.07 from last year’s $0.12 per share. HTBK’s profit will be $7.19M for 16.46 P/E if the $0.19 EPS becomes a reality. After $0.18 actual earnings per share 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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