HTBK - Heritage Commerce: 4.7% Dividend Yield With Secure Dividends

• HTBK’s markets in California are benefiting from good handling of the pandemic and overall economic strength.
• A large part of the portfolio is likely to reprice in the year ahead, which will pressurize the net interest margin.
• Heritage Commerce is offering quite an attractive dividend yield. Although the payout ratio is high, the dividend appears secure.
• The year-end target price suggests a modest upside from the current market price.

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