Today it was reported that the EVP of Heritage Commerce Corp (HTBK), Michael Eugene Benito, exercised options to buy 4,500 HTBK shares at $7.43 a share, for a total transaction value of $33.44K.
This recent transaction increases Michael Eugene Benito’s holding in the company by 10.82% to a total of $620K. In addition to Michael Eugene Benito, 3 other HTBK executives reported Buy trades in the last month.
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Based on Heritage Commerce Corp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $37.77 million and quarterly net profit of $13.23 million. In comparison, last year the company earned revenue of $30.72 million and had a net profit of $1.38 million. HTBK’s market cap is $582.2M and the company has a P/E ratio of 16.15. Currently, Heritage Commerce Corp has an average volume of 60.16K.
Starting in March 2018, HTBK received 38 Buy ratings in a row. Based on 3 analyst ratings, the analyst consensus is Strong Buy with an average price target of $17.00, reflecting a 27.7% upside. Three different firms, including Brean Capital and Raymond James, currently also have a Buy rating on the stock.
The insider sentiment on Heritage Commerce Corp has been positive according to 31 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.
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Heritage Commerce Corp. is a holding company which provides banking services through their subsidiary. It operates through the Banking and Factoring segments. The Banking segment includes holding company’s results of operations. The Factoring segment focuses on factoring originated by bay view funding.