Alliancebernstein L.P. raised its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 79.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,126 shares of the financial services provider’s stock after buying an additional 10,700 shares during the quarter. Alliancebernstein L.P. owned about 0.06% of Heritage Commerce Corp worth $332,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Heritage Commerce Corp by 8.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 64,000 shares of the financial services provider’s stock valued at $882,000 after purchasing an additional 5,240 shares during the period. Swiss National Bank bought a new stake in shares of Heritage Commerce Corp during the 2nd quarter valued at about $827,000. Principal Financial Group Inc. bought a new stake in shares of Heritage Commerce Corp during the 2nd quarter valued at about $175,000. John W. Rosenthal Capital Management Inc. grew its stake in shares of Heritage Commerce Corp by 3.0% during the 2nd quarter. John W. Rosenthal Capital Management Inc. now owns 160,100 shares of the financial services provider’s stock valued at $2,206,000 after purchasing an additional 4,700 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Heritage Commerce Corp by 12.1% during the 2nd quarter. Victory Capital Management Inc. now owns 92,850 shares of the financial services provider’s stock valued at $1,279,000 after buying an additional 10,035 shares in the last quarter. Hedge funds and other institutional investors own 69.36% of the company’s stock.
A number of research firms have recently weighed in on HTBK. Zacks Investment Research raised Heritage Commerce Corp from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Tuesday, October 31st. Brean Capital reaffirmed a “buy” rating on shares of Heritage Commerce Corp in a report on Thursday, August 3rd. ValuEngine downgraded Heritage Commerce Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, BidaskClub downgraded Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $16.00.
In other Heritage Commerce Corp news, Director Komas Julianne M. Biagini sold 3,650 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $13.65, for a total transaction of $49,822.50. Following the completion of the sale, the director now owns 25,696 shares of the company’s stock, valued at $350,750.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.69% of the company’s stock.
Shares of Heritage Commerce Corp (HTBK) opened at $15.28 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.77. Heritage Commerce Corp has a 12 month low of $11.75 and a 12 month high of $15.55. The firm has a market capitalization of $565.36, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.84 and a beta of 0.49.
Heritage Commerce Corp (NASDAQ:HTBK) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. Heritage Commerce Corp had a return on equity of 11.15% and a net margin of 26.40%. The firm had revenue of $28.78 million for the quarter, compared to analyst estimates of $28.70 million. analysts anticipate that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $0.40 dividend on an annualized basis and a yield of 2.62%. Heritage Commerce Corp’s payout ratio is 51.95%.
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Heritage Commerce Corp Company Profile
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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