Wellington Management Group LLP Has $36.14 Million Holdings in Heritage Commerce Corp $HTBK

Key Points

• Wellington Management Group LLP increased its holdings in Heritage Commerce Corp by 64.9%, owning approximately 6.16% of the company, worth about $36.14 million after acquiring nearly 1.5 million shares.
• Heritage Commerce recently declared a quarterly dividend of $0.13 per share, yielding 5.2% annually, with an 82.54% dividend payout ratio.
• Heritage Commerce Corp reported earnings of $0.21 per share for the last quarter, beating analysts' expectations, and has a market cap of $620.03 million.

Wellington Management Group LLP grew its stake in Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 64.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,796,472 shares of the financial services provider's stock after buying an additional 1,493,857 shares during the period. Wellington Management Group LLP owned approximately 6.16% of Heritage Commerce worth $36,142,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its position in shares of Heritage Commerce by 52.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 24,736 shares of the financial services provider's stock worth $232,000 after purchasing an additional 8,474 shares during the last quarter. Millennium Management LLC acquired a new stake in Heritage Commerce during the 4th quarter worth $1,881,000. Deutsche Bank AG raised its stake in Heritage Commerce by 42.0% during the 4th quarter. Deutsche Bank AG now owns 60,859 shares of the financial services provider's stock worth $571,000 after buying an additional 18,013 shares during the period. ProShare Advisors LLC raised its stake in Heritage Commerce by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 16,785 shares of the financial services provider's stock worth $157,000 after buying an additional 5,523 shares during the period. Finally, Cerity Partners LLC increased its holdings in Heritage Commerce by 1.9% during the 1st quarter. Cerity Partners LLC now owns 148,300 shares of the financial services provider's stock worth $1,412,000 after purchasing an additional 2,726 shares in the last quarter. Institutional investors and hedge funds own 75.55% of the company's stock.

Insider Buying and Selling

In other Heritage Commerce news, COO Thomas A. Sa purchased 20,000 shares of Heritage Commerce stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average price of $9.25 per share, for a total transaction of $185,000.00. Following the completion of the acquisition, the chief operating officer owned 20,000 shares of the company's stock, valued at approximately $185,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.71% of the company's stock.

Heritage Commerce Stock Down 0.0%

Shares of NASDAQ HTBK traded down $0.01 during mid-day trading on Friday, hitting $10.36. The company had a trading volume of 138,385 shares, compared to its average volume of 427,281. The company has a market capitalization of $636.31 million, a PE ratio of 16.43 and a beta of 0.85. The firm has a 50-day simple moving average of $9.95 and a two-hundred day simple moving average of $9.62. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a one year low of $8.09 and a one year high of $11.27.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. The company had revenue of $47.78 million during the quarter, compared to analysts' expectations of $47.17 million. Heritage Commerce had a return on equity of 6.61% and a net margin of 15.00%. On average, equities analysts expect that Heritage Commerce Corp will post 0.8 EPS for the current year.

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, August 7th. This represents a $0.52 dividend on an annualized basis and a yield of 5.0%. Heritage Commerce's dividend payout ratio (DPR) is presently 82.54%.

Analyst Ratings Changes

Separately, Wall Street Zen cut Heritage Commerce from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $10.67.

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.