Heritage Commerce Corp (NASDAQ:HTBK) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its holdings in Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 57.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 198,872 shares of the financial services provider's stock after selling 264,902 shares during the quarter. Assenagon Asset Management S.A. owned about 0.32% of Heritage Commerce worth $1,893,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in HTBK. Quarry LP grew its holdings in shares of Heritage Commerce by 562.4% during the fourth quarter. Quarry LP now owns 3,153 shares of the financial services provider's stock worth $30,000 after buying an additional 2,677 shares during the last quarter. US Bancorp DE increased its holdings in shares of Heritage Commerce by 64.8% in 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 during the period. Two Sigma Securities LLC acquired a new position in shares of Heritage Commerce in the fourth quarter valued at approximately $97,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Heritage Commerce during the fourth quarter worth approximately $99,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of Heritage Commerce during the fourth quarter worth $101,000. 75.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Stephens reissued an "overweight" rating and issued a $11.00 price objective on shares of Heritage Commerce in a research note on Monday, April 28th. Wall Street Zen lowered shares of Heritage Commerce from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Keefe, Bruyette & Woods cut their target price on Heritage Commerce from $11.50 to $11.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, Raymond James Financial set a $10.00 price target on Heritage Commerce in a research note on Monday, April 28th.

Heritage Commerce Trading Down 1.1%

Shares of HTBK opened at $9.15 on Wednesday. Heritage Commerce Corp has a twelve month low of $7.83 and a twelve month high of $11.27. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $563.64 million, a P/E ratio of 13.46 and a beta of 0.79. The firm's 50-day moving average is $9.13 and its two-hundred day moving average is $9.53.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. Heritage Commerce had a return on equity of 6.11% and a net margin of 16.38%. The business had revenue of $46.06 million for the quarter, compared to analyst estimates of $45.89 million. On average, research analysts predict that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 5.68%. The ex-dividend date of this dividend was Thursday, May 8th. Heritage Commerce's dividend payout ratio (DPR) is 76.47%.

About Heritage Commerce

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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