November 29, 2016 - By olga
Heritage Commerce Corp director and an insider Kirk Wycoff not a long ago unloaded 100,000 company shares having a value of $1,250,000 at the avg market share price which was $12.5. This is not his first insider trade, in the last 30 days, he sold another 1,000,000 shares worth $12,000,000 USD. Kirk Wycoff currently owns 490,821 shares or 1.29% of Heritage Commerce Corp’s market cap. The date was November 29, 2016 when Kirk executed the trade, and it was disclosed in a report with the SEC, freely available on this website.
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 -39.47% below today’s ($12.39) stock price. Heritage Commerce has been the topic of 7 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The stock has “Hold” rating given by Sandler O’Neill on Monday, September 28. The firm earned “Market Perform” rating on Tuesday, October 27 by FIG Partners. On Monday, November 23 the stock rating was upgraded by Sandler O’Neill to “Buy”.
Insitutional Activity: The institutional sentiment increased to 1.74 in Q2 2016. Its up 0.57, from 1.17 in 2016Q1. The ratio is positive, 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.
Globeflex Cap Ltd Partnership has 0.09% invested in the company for 32,151 shares. Citigroup has 4,810 shares for 0% of their US portfolio. The New York-based Morgan Stanley has invested 0% in Heritage Commerce Corp. (NASDAQ:HTBK). Palouse Inc reported 22,422 shares or 0.1% of all its holdings. Martingale Asset L P holds 18,921 shares or 0% of its portfolio. Emerald Mutual Fund Advisers Tru reported 138,670 shares or 0.08% of all its holdings. Fort Point Capital Prns Llc last reported 0.33% of its portfolio in the stock. Penn Capital Management accumulated 0.1% or 169,751 shares. Blackrock Investment Management Llc owns 108,973 shares or 0% of their US portfolio. Magee Thomson Investment Prns Limited Liability has 0% invested in the company for 107 shares. The Florida-based Raymond James Financial Svcs has invested 0% in Heritage Commerce Corp. (NASDAQ:HTBK). Patriot Fincl Prns Grp Inc Limited Partnership holds 7.29% of its portfolio in Heritage Commerce Corp. (NASDAQ:HTBK) for 2.60M shares. Alliancebernstein L P has invested 0% of its portfolio in Heritage Commerce Corp. (NASDAQ:HTBK). The California-based Blackrock Institutional Tru Na has invested 0% in Heritage Commerce Corp. (NASDAQ:HTBK). Kennedy Cap Mngmt has 267,347 shares for 0.06% of their US portfolio.
Insider Transactions: Since June 3, 2016, the stock had 2 insider buys, and 23 selling transactions for $71.95 million net activity. $599,794 worth of Heritage Commerce Corp. (NASDAQ:HTBK) was sold by EGGEMEYER JOHN M III. $10,778 worth of Heritage Commerce Corp. (NASDAQ:HTBK) was bought by DINAPOLI J PHILIP on Friday, June 3. On Wednesday, August 31 WYCOFF W KIRK sold $361,127 worth of the stock or 31,386 shares. 5,086 shares with value of $58,237 were sold by BIAGINI KOMAS JULIANNE M on Thursday, August 18. Conner Jack W also sold $3,462 worth of Heritage Commerce Corp. (NASDAQ:HTBK) on Friday, August 19.
About 80,020 shares traded hands. Heritage Commerce Corp. (NASDAQ:HTBK) has risen 18.28% since April 26, 2016 and is uptrending. It has outperformed by 13.02% the S&P500.
Heritage Commerce Corp is a bank holding company. The company has a market cap of $469.16 million. The Company, through its subsidiary Heritage Bank of Commerce , provides a range of banking services. It has a 19.21 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 16.30 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, Nasdaq.com published: “Heritage Commerce Corp (HTBK) Ex-Dividend Date Scheduled for November 04, 2016” on November 03, 2016. More interesting news about Heritage Commerce Corp. (NASDAQ:HTBK) were released by: Globenewswire.com and their article: “Heritage Commerce Corp and Focus Business Bank Plan to Merge” published on April 23, 2015 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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