Ategra Capital Management LLC Sells 478,480 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Ategra Capital Management LLC trimmed its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 56.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 369,321 shares of the financial services provider's stock after selling 478,480 shares during the quarter. Heritage Commerce comprises about 2.3% of Ategra Capital Management LLC's portfolio, making the stock its 14th biggest holding. Ategra Capital Management LLC owned approximately 0.60% of Heritage Commerce worth $3,464,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Quarry LP grew its position in Heritage Commerce by 562.4% in the fourth quarter. Quarry LP now owns 3,153 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 2,677 shares during the last quarter. US Bancorp DE boosted its stake in shares of Heritage Commerce by 64.8% during the fourth quarter. US Bancorp DE now owns 3,473 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 1,365 shares in the last quarter. Two Sigma Securities LLC bought a new stake in Heritage Commerce during the 4th quarter worth approximately $97,000. Y Intercept Hong Kong Ltd bought a new stake in Heritage Commerce during the 4th quarter worth approximately $99,000. Finally, Oxford Asset Management LLP acquired a new stake in Heritage Commerce in the fourth quarter valued at $101,000. 75.55% of the stock is owned by institutional investors.

Insider Transactions at Heritage Commerce

In other news, Director Jack W. Conner sold 4,000 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $10.52, for a total transaction of $42,080.00. Following the sale, the director now directly owns 108,512 shares in the company, valued at $1,141,546.24. This represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.73, for a total transaction of $50,060.85. Following the completion of the sale, the chief executive officer now owns 254,227 shares in the company, valued at $2,473,628.71. This represents a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,747 shares of company stock worth $107,728 in the last ninety days. Company insiders own 2.71% of the company's stock.

Heritage Commerce Stock Down 0.6 %

Shares of Heritage Commerce stock traded down $0.06 on Monday, hitting $9.24. The company had a trading volume of 212,530 shares, compared to its average volume of 373,867. The stock has a market capitalization of $569.29 million, a price-to-earnings ratio of 14.00 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. Heritage Commerce Corp has a 1 year low of $7.74 and a 1 year high of $11.27. The stock has a 50 day moving average of $9.26 and a 200-day moving average of $9.74.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. The business had revenue of $46.06 million for the quarter, compared to analysts' expectations of $45.89 million. As a group, sell-side 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 Thursday, May 22nd. Investors of record on Thursday, May 8th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date of this dividend is Thursday, May 8th. Heritage Commerce's payout ratio is 76.47%.

Wall Street Analyst Weigh In

Several analysts recently commented on HTBK shares. Keefe, Bruyette & Woods reduced their target price on Heritage Commerce from $11.50 to $11.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Stephens reissued an "overweight" rating and set a $11.00 target price on shares of Heritage Commerce in a research note on Monday, April 28th. Finally, Raymond James set a $10.00 price target on shares of Heritage Commerce in a research note on Monday, April 28th.

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.