Dimensional Fund Advisors LP Acquires 130,144 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Dimensional Fund Advisors LP raised its position in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,392,688 shares of the financial services provider's stock after acquiring an additional 130,144 shares during the quarter. Dimensional Fund Advisors LP owned about 5.53% of Heritage Commerce worth $31,823,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. US Bancorp DE lifted its stake in shares of Heritage Commerce by 64.8% in the 4th 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 during the period. Y Intercept Hong Kong Ltd acquired a new position in Heritage Commerce in the fourth quarter valued at approximately $99,000. Holcombe Financial Inc. bought a new position in shares of Heritage Commerce during the 4th quarter worth approximately $118,000. Fox Run Management L.L.C. acquired a new stake in shares of Heritage Commerce during the 4th quarter worth approximately $123,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Heritage Commerce in the 4th quarter valued at $129,000. 75.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.73, for a total transaction of $50,060.85. Following the transaction, the chief executive officer now directly owns 254,227 shares of the company's stock, valued at $2,473,628.71. This trade represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jack W. Conner sold 4,000 shares of the business'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 transaction, the director now owns 108,512 shares in the company, valued at approximately $1,141,546.24. This trade represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,747 shares of company stock worth $107,728. 2.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HTBK has been the topic of several research analyst reports. Keefe, Bruyette & Woods cut their target price on shares of Heritage Commerce from $11.50 to $11.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Stephens restated an "overweight" rating and issued 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 Heritage Commerce in a research note on Monday, April 28th.

Heritage Commerce Stock Down 1.1 %

HTBK traded down $0.10 during trading on Friday, hitting $9.20. 218,191 shares of the company's stock were exchanged, compared to its average volume of 373,672. Heritage Commerce Corp has a fifty-two week low of $7.74 and a fifty-two week high of $11.27. The stock has a market cap of $566.82 million, a P/E ratio of 13.94 and a beta of 0.77. The business's 50 day moving average is $9.18 and its two-hundred day moving average is $9.73. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. The company had revenue of $46.06 million for the quarter, compared to analyst estimates of $45.89 million. Heritage Commerce had a net margin of 16.12% and a return on equity of 5.96%. As a group, equities analysts expect that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, May 8th. This represents a $0.52 annualized dividend and a dividend yield of 5.65%. Heritage Commerce's payout ratio is 76.47%.

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.