Vanguard Group Inc. raised its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 11.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,550,961 shares of the financial services provider’s stock after buying an additional 155,957 shares during the period. Vanguard Group Inc. owned about 4.07% of Heritage Commerce Corp worth $21,373,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of HTBK. Legal & General Group Plc increased its holdings in shares of 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 buying an additional 1,339 shares in the last quarter. IFP Advisors Inc acquired a new stake in shares of Heritage Commerce Corp during the second quarter worth approximately $132,000. Principal Financial Group Inc. acquired a new stake in shares of Heritage Commerce Corp during the second quarter worth approximately $175,000. CAPROCK Group Inc. acquired a new stake in shares of Heritage Commerce Corp during the second quarter worth approximately $198,000. Finally, American International Group Inc. increased its holdings in shares of Heritage Commerce Corp by 6.9% during the first quarter. American International Group Inc. now owns 16,039 shares of the financial services provider’s stock worth $226,000 after buying an additional 1,038 shares in the last quarter. 69.36% of the stock is owned by institutional investors.
In related news, Director Komas Julianne M. Biagini sold 3,650 shares of the firm’s 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 owns 25,696 shares of the company’s stock, valued at $350,750.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.69% of the company’s stock.
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Shares of Heritage Commerce Corp (NASDAQ HTBK) opened at $14.80 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.14. The firm has a market cap of $565.36, a P/E ratio of 19.22, a P/E/G ratio of 1.84 and a beta of 0.49. Heritage Commerce Corp has a fifty-two week low of $11.74 and a fifty-two week high of $15.55.
Heritage Commerce Corp (NASDAQ:HTBK) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $28.78 million during the quarter, compared to analyst estimates of $28.70 million. Heritage Commerce Corp had a net margin of 26.40% and a return on equity of 11.15%. research analysts expect that Heritage Commerce Corp will post 0.8 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Tuesday, November 7th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Monday, November 6th. Heritage Commerce Corp’s dividend payout ratio is currently 51.95%.
Several research firms have recently weighed in on HTBK. Zacks Investment Research raised shares of Heritage Commerce Corp from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company 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 lowered shares of Heritage Commerce Corp from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, BidaskClub lowered shares of Heritage Commerce Corp from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $16.00.
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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