Jane Street Group LLC lessened its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 45.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,118 shares of the financial services provider's stock after selling 47,478 shares during the quarter. Jane Street Group LLC owned about 0.09% of Heritage Commerce worth $526,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Heritage Commerce by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,392,688 shares of the financial services provider's stock valued at $31,823,000 after purchasing an additional 130,144 shares during the last quarter. Wellington Management Group LLP raised its position in Heritage Commerce by 13.2% in the 4th quarter. Wellington Management Group LLP now owns 2,302,615 shares of the financial services provider's stock valued at $21,599,000 after purchasing an additional 268,900 shares during the last quarter. Boston Partners raised its position in Heritage Commerce by 1.7% in the 4th quarter. Boston Partners now owns 1,564,741 shares of the financial services provider's stock valued at $14,620,000 after purchasing an additional 26,442 shares during the last quarter. Geode Capital Management LLC raised its position in Heritage Commerce by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,426,816 shares of the financial services provider's stock valued at $13,386,000 after purchasing an additional 4,756 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Heritage Commerce by 3.4% in the 4th quarter. American Century Companies Inc. now owns 1,129,910 shares of the financial services provider's stock valued at $10,599,000 after purchasing an additional 36,821 shares during the last quarter. Hedge funds and other institutional investors own 75.55% of the company's stock.
Analysts Set New Price Targets
Several brokerages have issued reports on HTBK. 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. Keefe, Bruyette & Woods dropped their price objective 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. Finally, Raymond James set a $10.00 price objective on shares of Heritage Commerce in a research note on Monday, April 28th.
Check Out Our Latest Analysis on Heritage Commerce
Heritage Commerce Trading Down 1.1%
NASDAQ:HTBK traded down $0.10 during trading hours on Monday, reaching $9.16. 526,199 shares of the company were exchanged, compared to its average volume of 375,655. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market cap of $564.22 million, a price-to-earnings ratio of 13.88 and a beta of 0.77. Heritage Commerce Corp has a 52-week low of $7.74 and a 52-week high of $11.27. The stock has a 50 day simple moving average of $9.04 and a 200 day simple moving average of $9.62.
Heritage Commerce (NASDAQ:HTBK - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $46.06 million during 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, analysts predict that Heritage Commerce Corp will post 0.8 EPS for the current year.
Heritage Commerce Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $0.52 dividend on an annualized basis and a yield of 5.68%. Heritage Commerce's dividend payout ratio (DPR) is 76.47%.
Insider Buying and Selling at Heritage Commerce
In related news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of Heritage Commerce stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.73, for a total value of $50,060.85. Following the sale, the chief executive officer now directly owns 254,227 shares in the company, valued at $2,473,628.71. This trade represents a 1.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.71% of the stock is currently owned by insiders.
About Heritage Commerce
(
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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