Dynamic Technology Lab Private Ltd increased its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 27.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,737 shares of the financial services provider’s stock after purchasing an additional 3,856 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Heritage Commerce Corp were worth $245,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its holdings in Heritage Commerce Corp by 20.4% during the second quarter. Legal & General Group Plc now owns 7,903 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,339 shares during the last quarter. IFP Advisors Inc purchased a new position in Heritage Commerce Corp during the second quarter worth about $132,000. Principal Financial Group Inc. purchased a new position in Heritage Commerce Corp during the second quarter worth about $175,000. Voya Investment Management LLC purchased a new position in Heritage Commerce Corp during the second quarter worth about $189,000. Finally, CAPROCK Group Inc. purchased a new position in Heritage Commerce Corp during the second quarter worth about $198,000. Institutional investors and hedge funds own 69.47% of the company’s stock.
Heritage Commerce Corp (NASDAQ:HTBK) opened at 15.38 on Wednesday. The stock has a market capitalization of $586.44 million, a PE ratio of 21.10 and a beta of 0.51. The firm has a 50-day moving average of $14.36 and a 200-day moving average of $13.92. Heritage Commerce Corp has a 1-year low of $10.23 and a 1-year high of $15.41.
Heritage Commerce Corp (NASDAQ:HTBK) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Heritage Commerce Corp had a net margin of 26.40% and a return on equity of 11.27%. The firm had revenue of $28.78 million during the quarter, compared to analyst estimates of $28.70 million. Equities analysts expect that Heritage Commerce Corp will post $0.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.60%. Heritage Commerce Corp’s dividend payout ratio is presently 51.95%.
HTBK has been the topic of several analyst reports. ValuEngine upgraded shares of Heritage Commerce Corp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. BidaskClub cut shares of Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Brean Capital set a $16.00 target price on shares of Heritage Commerce Corp and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of Heritage Commerce Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Heritage Commerce Corp has a consensus rating of “Hold” and an average price target of $16.00.
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In other news, Director Komas Julianne M. Biagini sold 3,650 shares of Heritage Commerce Corp stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $13.65, for a total value of $49,822.50. Following the completion of the sale, the director now directly owns 25,696 shares in the company, valued at $350,750.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Philip Dinapoli purchased 5,000 shares of Heritage Commerce Corp stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $13.53 per share, with a total value of $67,650.00. Following the completion of the purchase, the director now directly owns 163,376 shares of the company’s stock, valued at $2,210,477.28. The disclosure for this purchase can be found here. Insiders own 5.69% of the company’s stock.
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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