Two Sigma Investments LP cut its position in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 15.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 420,243 shares of the financial services provider's stock after selling 77,616 shares during the quarter. Two Sigma Investments LP owned 0.69% of Heritage Commerce worth $3,942,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Heritage Commerce by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,392,688 shares of the financial services provider's stock worth $31,823,000 after purchasing an additional 130,144 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Heritage Commerce by 13.2% in the fourth quarter. Wellington Management Group LLP now owns 2,302,615 shares of the financial services provider's stock worth $21,599,000 after purchasing an additional 268,900 shares in the last quarter. Boston Partners lifted its position in shares of Heritage Commerce by 1.7% in the fourth quarter. Boston Partners now owns 1,564,741 shares of the financial services provider's stock worth $14,620,000 after purchasing an additional 26,442 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Heritage Commerce by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,426,816 shares of the financial services provider's stock worth $13,386,000 after purchasing an additional 4,756 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Heritage Commerce by 3.4% in the fourth quarter. American Century Companies Inc. now owns 1,129,910 shares of the financial services provider's stock worth $10,599,000 after purchasing an additional 36,821 shares in the last quarter. 75.55% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Heritage Commerce
In other news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of Heritage Commerce stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $9.73, for a total value of $50,060.85. Following the transaction, the chief executive officer now 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 SEC, which can be accessed through this hyperlink. Insiders own 2.71% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Stephens reissued an "overweight" rating and issued a $11.00 price target on shares of Heritage Commerce in a research report on Monday, April 28th. Keefe, Bruyette & Woods reduced their price target on shares of Heritage Commerce from $11.50 to $11.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, Raymond James set a $10.00 price target on shares of Heritage Commerce in a research report on Monday, April 28th.
Check Out Our Latest Research Report on Heritage Commerce
Heritage Commerce Stock Down 1.1%
HTBK traded down $0.10 during midday trading on Monday, hitting $9.16. 526,199 shares of the company's stock traded hands, compared to its average volume of 375,655. The company has a market cap of $564.22 million, a PE ratio of 13.88 and a beta of 0.77. The stock's fifty day simple moving average is $9.04 and its 200-day simple moving average is $9.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. Heritage Commerce Corp has a one year low of $7.74 and a one year high of $11.27.
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. The firm 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 anticipate that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.
Heritage Commerce Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 5.68%. The ex-dividend date was Thursday, May 8th. Heritage Commerce's payout ratio is presently 76.47%.
Heritage Commerce Profile
(
Free Report)
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.
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