November 30, 2016 - By Darrin Black
The well informed man Keith Wilton who is EVP/COO of Heritage Commerce Corp made a sale of 4,680 shares of the corporation worth approx. $58,396 US Dollars based on an avg price of $12.5 for each share. Keith Wilton now has rights to 0.21% of the market cap of the company. The transaction was unveiled in a document that was filed with the SEC on November 30, 2016, which is available for public access here.
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 -39.61% below today’s ($12.42) stock price. Heritage Commerce has been the topic of 7 analyst reports since July 28, 2015 according to StockzIntelligence Inc. On Tuesday, October 27 the stock rating was downgraded by FIG Partners to “Market Perform”. Sandler O’Neill downgraded the stock to “Hold” rating in Monday, September 28 report. As per Monday, November 23, the company rating was upgraded 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.
Moreover, Millennium Mgmt Lc has 0% invested in Heritage Commerce Corp. (NASDAQ:HTBK) for 15,484 shares. Tiaa Cref Inv Management Ltd Liability accumulated 82,783 shares or 0% of the stock. Maltese Cap Mgmt Lc last reported 0.75% of its portfolio in the stock. Kennedy Cap Management holds 0.06% of its portfolio in Heritage Commerce Corp. (NASDAQ:HTBK) for 267,347 shares. Prudential Fincl has 0% invested in the company for 39,818 shares. Elizabeth Park Limited accumulated 1.86% or 415,166 shares. Stieven Cap Limited Partnership owns 321,509 shares or 0.94% of their US portfolio. Parametric Portfolio Associate Lc has 11,873 shares for 0% of their US portfolio. Winfield reported 2,392 shares or 0.02% of all its holdings. Blackrock Institutional Tru Communications Na accumulated 0% or 1.45 million shares. Raymond James Services Advsrs holds 0% or 28,405 shares in its portfolio. Metropolitan Life Ins Co has 0% invested in the company for 15,968 shares. Westwood Holdg Group has 524,294 shares for 0.05% of their US portfolio. Deere has 26,739 shares for 0.02% of their US portfolio. Moreover, Boston Private Wealth Ltd Liability Corporation has 0.03% invested in Heritage Commerce Corp. (NASDAQ:HTBK) for 72,187 shares.
Insider Transactions: Since June 3, 2016, the stock had 1 buy, and 24 selling transactions for $73.21 million net activity. On Tuesday, August 2 DINAPOLI J PHILIP bought $52,138 worth of the stock or 5,000 shares. 7,701 Heritage Commerce Corp. (NASDAQ:HTBK) shares with value of $88,580 were sold by WYCOFF W KIRK. BIAGINI KOMAS JULIANNE M sold $30,451 worth of stock. EGGEMEYER JOHN M III also sold $8.97M worth of Heritage Commerce Corp. (NASDAQ:HTBK) on Tuesday, November 22. The insider Conner Jack W sold 300 shares worth $3,462.
About 582,451 shares traded hands or 123.19% up from the average. Heritage Commerce Corp. (NASDAQ:HTBK) has risen 16.81% since April 27, 2016 and is uptrending. It has outperformed by 11.58% the S&P500.
Heritage Commerce Corp is a bank holding company. The company has a market cap of $466.52 million. The Company, through its subsidiary Heritage Bank of Commerce , provides a range of banking services. It has a 19.26 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 $7.14 million for 16.34 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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By Darrin Black