Assenagon Asset Management S.A. Acquires New Position in Heritage Commerce Corp $HTBK

Assenagon Asset Management S.A. acquired a new position in shares of Heritage Commerce Corp (NASDAQ:HTBK) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 417,129 shares of the financial services provider’s stock, valued at approximately $5,010,000.

A number of other large investors have also recently bought and sold shares of the business. State of New Jersey Common Pension Fund D raised its holdings in shares of Heritage Commerce by 0.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 218,384 shares of the financial services provider’s stock valued at $2,169,000 after purchasing an additional 1,423 shares in the last quarter. 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 worth $337,000 after purchasing an additional 1,482 shares in the last quarter. Diversified Trust Co increased its position 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 buying an additional 1,717 shares during the last quarter. Mariner LLC increased its position in Heritage Commerce by 2.6% during the third quarter. Mariner LLC now owns 68,844 shares of the financial services provider’s stock worth $684,000 after buying an additional 1,730 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Heritage Commerce by 56.5% during the third quarter. Parkside Financial Bank & Trust now owns 5,026 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,815 shares in the last quarter. Institutional investors own 75.55% of the company’s stock.

Wall Street Analysts Forecast Growth

HTBK has been the subject of a number of analyst reports. Raymond James Financial cut Heritage Commerce from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 7th. Weiss Ratings raised Heritage Commerce from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Janney Montgomery Scott lowered Heritage Commerce from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $12.00 to $14.00 in a report on Monday, December 22nd. Stephens reaffirmed an “equal weight” rating on shares of Heritage Commerce in a research report on Monday, January 5th. Finally, DA Davidson reiterated a “neutral” rating and set a $14.50 price target on shares of Heritage Commerce in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Heritage Commerce currently has a consensus rating of “Moderate Buy” and an average target price of $12.25.

Heritage Commerce Trading Down 1.8%

Heritage Commerce stock opened at $12.17 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 0.74. The business’s 50-day simple moving average is $12.78 and its 200-day simple moving average is $11.59. The firm has a market capitalization of $749.59 million, a PE ratio of 15.60 and a beta of 0.79. Heritage Commerce Corp has a 52 week low of $8.09 and a 52 week high of $13.82.

Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Thursday, January 22nd. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05. The firm had revenue of $104.04 million during the quarter, compared to the consensus estimate of $50.78 million. Heritage Commerce had a return on equity of 8.07% and a net margin of 17.77%. Equities research analysts forecast that Heritage Commerce Corp will post 0.8 earnings per share for the current year.

Heritage Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be issued a dividend of $0.13 per share. The ex-dividend date is Wednesday, March 25th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.3%. Heritage Commerce’s payout ratio is 66.67%.

Heritage Commerce Company Profile

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.