New York State Common Retirement Fund boosted its position in Heritage Commerce Corp (NASDAQ:HTBK) by 16.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,056 shares of the financial services provider’s stock after purchasing an additional 10,099 shares during the quarter. New York State Common Retirement Fund owned about 0.19% of Heritage Commerce Corp worth $979,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of HTBK. Dimensional Fund Advisors LP raised its stake in Heritage Commerce Corp by 9.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,460,283 shares of the financial services provider’s stock valued at $20,590,000 after purchasing an additional 122,917 shares during the last quarter. Granite Investment Partners LLC acquired a new position in Heritage Commerce Corp in the 2nd quarter valued at $1,417,000. Swiss National Bank acquired a new position in Heritage Commerce Corp in the 2nd quarter valued at $827,000. Vanguard Group Inc. raised its stake in Heritage Commerce Corp by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 1,395,004 shares of the financial services provider’s stock valued at $19,669,000 after purchasing an additional 57,100 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Heritage Commerce Corp by 28.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 240,429 shares of the financial services provider’s stock valued at $3,314,000 after purchasing an additional 53,148 shares during the last quarter. 69.47% of the stock is owned by hedge funds and other institutional investors.
HTBK has been the subject of several recent research reports. ValuEngine raised Heritage Commerce Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. BidaskClub downgraded Heritage Commerce Corp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Zacks Investment Research raised Heritage Commerce Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Brean Capital set a $16.00 price objective on Heritage Commerce Corp and gave the company a “buy” rating in a research note on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $16.00.
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Heritage Commerce Corp (NASDAQ:HTBK) opened at $15.43 on Friday. Heritage Commerce Corp has a 52 week low of $10.23 and a 52 week high of $15.55. The company has a market capitalization of $589.41, a price-to-earnings ratio of 20.04, a P/E/G ratio of 1.92 and a beta of 0.49. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.15.
Heritage Commerce Corp (NASDAQ:HTBK) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Heritage Commerce Corp had a return on equity of 11.27% and a net margin of 26.40%. The business had revenue of $28.78 million during the quarter, compared to the consensus estimate of $28.70 million. equities analysts predict that Heritage Commerce Corp will post 0.8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Monday, November 6th. Heritage Commerce Corp’s dividend payout ratio (DPR) is presently 51.95%.
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 value of $49,822.50. Following the completion of the sale, the director now directly owns 25,696 shares of the company’s stock, valued at approximately $350,750.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Philip Dinapoli bought 5,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was bought at an average cost 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 in the company, valued at $2,210,477.28. The disclosure for this purchase can be found here. 5.69% of the stock is owned by company insiders.
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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