Campbell & CO Investment Adviser LLC Acquires New Stake in Heritage Commerce Corp $HTBK

Campbell & CO Investment Adviser LLC acquired a new stake in Heritage Commerce Corp (NASDAQ:HTBK) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 39,160 shares of the financial services provider’s stock, valued at approximately $389,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in Heritage Commerce by 143.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,851 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,680 shares during the period. US Bancorp DE boosted its stake in shares of Heritage Commerce by 66.7% in the first quarter. US Bancorp DE now owns 5,789 shares of the financial services provider’s stock valued at $55,000 after buying an additional 2,316 shares in the last quarter. Martingale Asset Management L P purchased a new position in shares of Heritage Commerce in the 1st quarter valued at about $103,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Heritage Commerce in the second quarter valued at about $107,000. Finally, Quantbot Technologies LP lifted its position in shares of Heritage Commerce by 29.6% during the 1st quarter. Quantbot Technologies LP now owns 13,120 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 2,997 shares during the period. Hedge funds and other institutional investors own 75.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HTBK. Weiss Ratings restated a “hold (c+)” rating on shares of Heritage Commerce in a report on Thursday. Piper Sandler raised their price target on Heritage Commerce from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. DA Davidson lifted their price target on Heritage Commerce from $12.00 to $12.50 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Wall Street Zen raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Stephens raised their target price on shares of Heritage Commerce from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $11.50.

Heritage Commerce Stock Performance

Shares of NASDAQ HTBK opened at $10.58 on Monday. The company has a 50-day simple moving average of $10.16 and a 200-day simple moving average of $9.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market cap of $648.38 million, a PE ratio of 15.11 and a beta of 0.89. Heritage Commerce Corp has a 12 month low of $8.09 and a 12 month high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. The firm had revenue of $50.01 million for the quarter. Heritage Commerce had a net margin of 16.31% and a return on equity of 7.20%. On average, equities analysts anticipate that Heritage Commerce Corp will post 0.8 earnings per share for the current year.

Heritage Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.9%. Heritage Commerce’s payout ratio is currently 74.29%.

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. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.