Heritage Commerce Corp. (HTBK) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its stake in shares of Heritage Commerce Corp. (NASDAQ:HTBK) by 13.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 174,113 shares of the financial services provider’s stock after selling 26,704 shares during the period. Russell Investments Group Ltd.’s holdings in Heritage Commerce were worth $2,598,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. First Trust Advisors LP lifted its position in Heritage Commerce by 30.7% during the second quarter. First Trust Advisors LP now owns 103,996 shares of the financial services provider’s stock valued at $1,767,000 after purchasing an additional 24,413 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Heritage Commerce by 10.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 194,303 shares of the financial services provider’s stock valued at $3,302,000 after purchasing an additional 17,853 shares during the period. Bank of America Corp DE lifted its position in Heritage Commerce by 446.8% during the second quarter. Bank of America Corp DE now owns 161,283 shares of the financial services provider’s stock valued at $2,740,000 after purchasing an additional 131,787 shares during the period. Renaissance Technologies LLC lifted its position in Heritage Commerce by 36.0% during the second quarter. Renaissance Technologies LLC now owns 788,900 shares of the financial services provider’s stock valued at $13,403,000 after purchasing an additional 208,700 shares during the period. Finally, Martingale Asset Management L P lifted its position in Heritage Commerce by 15.4% during the second quarter. Martingale Asset Management L P now owns 114,714 shares of the financial services provider’s stock valued at $1,949,000 after purchasing an additional 15,302 shares during the period. Institutional investors own 73.61% of the company’s stock.

In other Heritage Commerce news, Director Jack W. Conner bought 10,418 shares of Heritage Commerce stock in a transaction on Monday, November 12th. The stock was acquired at an average cost of $14.42 per share, with a total value of $150,227.56. Following the completion of the acquisition, the director now owns 68,756 shares in the company, valued at $991,461.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jason Philip Dinapoli bought 10,000 shares of Heritage Commerce stock in a transaction on Tuesday, October 30th. The shares were acquired at an average cost of $14.69 per share, with a total value of $146,900.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $293,800. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 22,173 shares of company stock valued at $322,049. 5.40% of the stock is owned by corporate insiders.

A number of analysts have commented on the stock. Brean Capital reaffirmed a “buy” rating on shares of Heritage Commerce in a report on Monday, August 27th. BidaskClub raised shares of Heritage Commerce from a “strong sell” rating to a “sell” rating in a report on Friday, August 17th. Finally, ValuEngine cut shares of Heritage Commerce from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Heritage Commerce currently has a consensus rating of “Hold” and a consensus target price of $18.50.

Shares of HTBK stock opened at $14.29 on Friday. Heritage Commerce Corp. has a 12 month low of $13.67 and a 12 month high of $18.10. The company has a market cap of $618.46 million, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 2.08 and a beta of 0.48. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.70 and a quick ratio of 0.70.

Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Thursday, October 25th. The financial services provider reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.01. Heritage Commerce had a net margin of 17.74% and a return on equity of 12.45%. The business had revenue of $34.66 million during the quarter, compared to analysts’ expectations of $34.56 million. As a group, research analysts predict that Heritage Commerce Corp. will post 0.98 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Tuesday, November 6th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, November 5th. This represents a $0.44 dividend on an annualized basis and a yield of 3.08%. Heritage Commerce’s dividend payout ratio is currently 55.00%.

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Heritage Commerce Profile

Heritage Commerce Corp operates as the bank holding company for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.

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Institutional Ownership by Quarter for Heritage Commerce (NASDAQ:HTBK)

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