Heritage Commerce Corp $HTBK Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP reduced its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 83.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,147 shares of the financial services provider’s stock after selling 100,726 shares during the period. GSA Capital Partners LLP’s holdings in Heritage Commerce were worth $200,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D raised its stake in Heritage Commerce by 0.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 218,384 shares of the financial services provider’s stock worth $2,169,000 after purchasing an additional 1,423 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Heritage Commerce by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,402 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 1,482 shares during the last quarter. Diversified Trust Co increased its stake in Heritage Commerce by 9.2% during the third quarter. Diversified Trust Co now owns 20,469 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 1,717 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Heritage Commerce by 56.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 5,026 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,815 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Heritage Commerce by 6.7% during the 2nd quarter. First Trust Advisors LP now owns 40,363 shares of the financial services provider’s stock worth $401,000 after purchasing an additional 2,551 shares during the period. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on HTBK shares. Raymond James Financial downgraded shares of Heritage Commerce from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 7th. Zacks Research lowered Heritage Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Heritage Commerce in a research report on Monday, December 29th. Stephens reiterated an “equal weight” rating on shares of Heritage Commerce in a research note on Monday, January 5th. Finally, Wall Street Zen lowered Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.25.

Heritage Commerce Stock Down 4.1%

Shares of NASDAQ:HTBK opened at $12.43 on Monday. The company’s fifty day moving average is $12.81 and its two-hundred day moving average is $11.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. Heritage Commerce Corp has a 1-year low of $8.09 and a 1-year high of $13.82. The stock has a market capitalization of $765.19 million, a price-to-earnings ratio of 15.94 and a beta of 0.79.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.23 by $0.05. Heritage Commerce had a net margin of 17.77% and a return on equity of 8.10%. The business had revenue of $53.62 million during the quarter, compared to analyst estimates of $50.78 million. Equities analysts anticipate that Heritage Commerce Corp will post 0.8 EPS for the current year.

Heritage Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Thursday, February 5th. Heritage Commerce’s dividend payout ratio is presently 66.67%.

About Heritage Commerce

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.