Heritage Commerce Corp (NASDAQ:HTBK) Stock Position Lessened by Granite Investment Partners LLC

Granite Investment Partners LLC decreased its holdings in Heritage Commerce Corp (NASDAQ:HTBK – Get Rating) by 1.4% in the 4th quarter, HoldingsChannel reports. The firm owned 1,580,537 shares of the financial services provider’s stock after selling 22,949 shares during the quarter. Granite Investment Partners LLC’s holdings in Heritage Commerce were worth $20,547,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of HTBK. New York Life Investment Management LLC boosted its stake in Heritage Commerce by 12.0% during the fourth quarter. New York Life Investment Management LLC now owns 50,423 shares of the financial services provider’s stock valued at $655,000 after buying an additional 5,408 shares in the last quarter. HRT Financial LP bought a new position in Heritage Commerce during the fourth quarter valued at about $448,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Heritage Commerce by 4.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,369 shares of the financial services provider’s stock valued at $330,000 after buying an additional 1,120 shares in the last quarter. First Trust Advisors LP boosted its stake in Heritage Commerce by 8.9% during the fourth quarter. First Trust Advisors LP now owns 198,878 shares of the financial services provider’s stock valued at $2,585,000 after buying an additional 16,258 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Heritage Commerce by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,011,655 shares of the financial services provider’s stock valued at $39,150,000 after buying an additional 74,657 shares in the last quarter. Institutional investors own 73.08% of the company’s stock.

Insider Buying and Selling

In other Heritage Commerce news, Director Jason Philip Dinapoli acquired 3,660 shares of Heritage Commerce stock in a transaction that occurred on Monday, March 6th. The stock was purchased at an average cost of $11.92 per share, with a total value of $43,627.20. Following the purchase, the director now owns 340,187 shares in the company, valued at $4,055,029.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Robert Moles sold 9,000 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $11.91, for a total transaction of $107,190.00. Following the completion of the sale, the director now directly owns 43,560 shares of the company’s stock, valued at approximately $518,799.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jason Philip Dinapoli purchased 3,660 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were purchased at an average cost of $11.92 per share, with a total value of $43,627.20. Following the completion of the purchase, the director now directly owns 340,187 shares in the company, valued at $4,055,029.04. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 18,660 shares of company stock valued at $156,577. Corporate insiders own 4.15% of the company’s stock.

Heritage Commerce Stock Up 3.1 %

Heritage Commerce stock traded up $0.23 during mid-day trading on Friday, hitting $7.65. The company’s stock had a trading volume of 56,587 shares, compared to its average volume of 346,590. The firm’s 50 day moving average is $7.95 and its 200 day moving average is $11.12. The company has a market cap of $466.42 million, a PE ratio of 6.24 and a beta of 0.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.69 and a quick ratio of 0.69. Heritage Commerce Corp has a 52-week low of $6.69 and a 52-week high of $14.87.

Heritage Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 25th. Investors of record on Thursday, May 11th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 6.80%. The ex-dividend date of this dividend was Wednesday, May 10th. Heritage Commerce’s dividend payout ratio is currently 43.70%.

Analyst Ratings Changes

Several brokerages recently weighed in on HTBK. Piper Sandler decreased their target price on Heritage Commerce from $11.00 to $10.00 in a research note on Friday, April 28th. Raymond James decreased their price target on Heritage Commerce from $13.00 to $10.00 and set an “outperform” rating for the company in a research report on Thursday, April 6th. TheStreet lowered Heritage Commerce from a “b-” rating to a “c+” rating in a research report on Thursday, May 4th. Finally, StockNews.com initiated coverage on Heritage Commerce in a research report on Thursday, May 18th. They issued a “hold” rating for the company.

About Heritage Commerce

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Heritage Commerce Corp. is a holding company, which engages in the provision of banking. It operates through the Banking and Factoring segments. The Banking segment includes the holding company’s results of operations. The Factoring segment focuses on factoring originated by Bay View Funding. The company was founded in 1997 and is headquartered in San Jose, CA.