JPMorgan Chase & Co. cut its position in Heritage Commerce Corp (NASDAQ:HTBK) by 40.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,760 shares of the financial services provider’s stock after selling 40,714 shares during the period. JPMorgan Chase & Co. owned 0.15% of Heritage Commerce Corp worth $829,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Heritage Commerce Corp by 22.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,337,366 shares of the financial services provider’s stock worth $19,298,000 after buying an additional 247,458 shares during the period. State Street Corp boosted its position in shares of Heritage Commerce Corp by 8.6% in the fourth quarter. State Street Corp now owns 406,594 shares of the financial services provider’s stock worth $5,866,000 after buying an additional 32,087 shares during the period. John W. Rosenthal Capital Management Inc. boosted its position in shares of Heritage Commerce Corp by 41.3% in the first quarter. John W. Rosenthal Capital Management Inc. now owns 155,400 shares of the financial services provider’s stock worth $2,191,000 after buying an additional 45,400 shares during the period. Context BH Capital Management LP boosted its position in shares of Heritage Commerce Corp by 8.4% in the first quarter. Context BH Capital Management LP now owns 110,565 shares of the financial services provider’s stock worth $1,559,000 after buying an additional 8,536 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Heritage Commerce Corp by 17.6% in the first quarter. American Century Companies Inc. now owns 72,790 shares of the financial services provider’s stock worth $1,026,000 after buying an additional 10,882 shares during the period. Hedge funds and other institutional investors own 69.36% of the company’s stock.
Shares of Heritage Commerce Corp (NASDAQ:HTBK) opened at 13.82 on Friday. Heritage Commerce Corp has a 12 month low of $10.23 and a 12 month high of $14.87. The company has a 50-day moving average price of $13.76 and a 200-day moving average price of $13.92. The firm has a market cap of $526.82 million, a price-to-earnings ratio of 18.96 and a beta of 0.52.
Heritage Commerce Corp (NASDAQ:HTBK) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $27.23 million for the quarter, compared to analyst estimates of $27.90 million. Heritage Commerce Corp had a return on equity of 10.69% and a net margin of 25.75%. Analysts forecast that Heritage Commerce Corp will post $0.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.40 annualized dividend and a yield of 2.89%. Heritage Commerce Corp’s payout ratio is currently 54.79%.
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A number of equities analysts have issued reports on the company. Brean Capital set a $16.00 target price on Heritage Commerce Corp and gave the stock a “buy” rating in a report on Friday, April 28th. Zacks Investment Research cut Heritage Commerce Corp from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. ValuEngine upgraded Heritage Commerce Corp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, BidaskClub lowered Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.50.
About Heritage Commerce Corp
Heritage Commerce Corp 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.
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