GSA Capital Partners LLP increased its position in Heritage Commerce Corp. (NASDAQ:HTBK) by 172.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,290 shares of the financial services provider’s stock after purchasing an additional 62,265 shares during the period. GSA Capital Partners LLP owned 0.23% of Heritage Commerce worth $1,466,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Stevens Capital Management LP bought a new position in shares of Heritage Commerce in the third quarter worth about $161,000. Stieven Capital Advisors L.P. bought a new position in shares of Heritage Commerce in the third quarter worth about $4,900,000. Dimensional Fund Advisors LP raised its stake in shares of Heritage Commerce by 5.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,144,984 shares of the financial services provider’s stock worth $32,003,000 after buying an additional 101,831 shares during the period. Boston Private Wealth LLC raised its stake in shares of Heritage Commerce by 96.9% in the third quarter. Boston Private Wealth LLC now owns 46,997 shares of the financial services provider’s stock worth $701,000 after buying an additional 23,125 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Heritage Commerce by 2.2% in the third quarter. BlackRock Inc. now owns 3,449,386 shares of the financial services provider’s stock worth $51,465,000 after buying an additional 74,188 shares during the period. 73.77% of the stock is currently owned by institutional investors.
Several research firms have recently commented on HTBK. BidaskClub raised Heritage Commerce from a “strong sell” rating to a “sell” rating in a research note on Friday, October 5th. Brean Capital reaffirmed a “buy” rating on shares of Heritage Commerce in a research note on Monday, October 29th. Finally, ValuEngine downgraded Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. Three research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.50.
In other Heritage Commerce news, Director Jason Philip Dinapoli bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The shares were bought at an average price of $14.69 per share, with a total value of $146,900.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at $293,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack W. Conner bought 10,418 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The shares were acquired at an average cost of $14.42 per share, for a total transaction of $150,227.56. Following the purchase, the director now directly owns 68,756 shares in the company, valued at approximately $991,461.52. The disclosure for this purchase can be found here. Insiders have purchased a total of 25,001 shares of company stock worth $360,707 in the last three months. 5.40% of the stock is owned by corporate insiders.
Shares of HTBK opened at $13.27 on Friday. The company has a market cap of $576.05 million, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. Heritage Commerce Corp. has a 12-month low of $12.57 and a 12-month high of $18.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 0.70.
Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, October 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $34.66 million for the quarter, compared to the consensus estimate of $34.56 million. Heritage Commerce had a return on equity of 12.45% and a net margin of 17.74%. On average, equities analysts expect that Heritage Commerce Corp. will post 0.98 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.32%. The ex-dividend date was Monday, November 5th. Heritage Commerce’s dividend payout ratio (DPR) is presently 55.00%.
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Heritage Commerce Company 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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