Schwab Charles Investment Management Inc. increased its position in Heritage Commerce Corp (NASDAQ:HTBK) by 32.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,500 shares of the financial services provider’s stock after purchasing an additional 13,000 shares during the period. Schwab Charles Investment Management Inc. owned 0.14% of Heritage Commerce Corp worth $724,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of HTBK. American International Group Inc. grew its stake in Heritage Commerce Corp by 6.9% in the first quarter. American International Group Inc. now owns 16,039 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 1,038 shares during the period. Teachers Advisors LLC grew its stake in Heritage Commerce Corp by 48.6% in the first quarter. Teachers Advisors LLC now owns 76,734 shares of the financial services provider’s stock worth $1,082,000 after purchasing an additional 25,106 shares during the period. TIAA CREF Investment Management LLC grew its stake in Heritage Commerce Corp by 26.2% in the first quarter. TIAA CREF Investment Management LLC now owns 128,329 shares of the financial services provider’s stock worth $1,809,000 after purchasing an additional 26,647 shares during the period. Vanguard Group Inc. grew its stake in Heritage Commerce Corp by 4.3% in the first quarter. Vanguard Group Inc. now owns 1,395,004 shares of the financial services provider’s stock worth $19,669,000 after purchasing an additional 57,100 shares during the period. Finally, Geode Capital Management LLC grew its stake in Heritage Commerce Corp by 5.0% in the first quarter. Geode Capital Management LLC now owns 366,672 shares of the financial services provider’s stock worth $5,170,000 after purchasing an additional 17,489 shares during the period. 69.47% of the stock is currently owned by institutional investors.
Several brokerages recently weighed in on HTBK. Zacks Investment Research raised Heritage Commerce Corp from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Tuesday. Brean Capital reissued a “buy” rating on shares of Heritage Commerce Corp in a report on Monday. BidaskClub downgraded Heritage Commerce Corp from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Finally, ValuEngine downgraded Heritage Commerce Corp from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $16.00.
Heritage Commerce Corp (NASDAQ:HTBK) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. Heritage Commerce Corp had a return on equity of 11.27% and a net margin of 26.40%. The business had revenue of $28.78 million for the quarter, compared to the consensus estimate of $28.70 million.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be issued a $0.10 dividend. The ex-dividend date is Monday, November 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.60%. Heritage Commerce Corp’s dividend payout ratio is presently 51.95%.
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In related news, Director J Philip Dinapoli purchased 5,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were acquired at an average cost of $13.53 per share, for a total transaction of $67,650.00. Following the acquisition, the director now owns 163,376 shares of the company’s stock, valued at approximately $2,210,477.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Komas Julianne M. Biagini sold 3,650 shares of Heritage Commerce Corp stock in a transaction 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 transaction, the director now owns 25,696 shares in the company, valued at $350,750.40. The disclosure for this sale can be found here. Company insiders own 5.69% of the company’s stock.
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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