74,500 Shares in Heritage Commerce Corp $HTBK Bought by Versor Investments LP

Key Points

• Versor Investments LP acquired a new position in Heritage Commerce Corp, investing approximately $709,000 for 74,500 shares during the 1st quarter.
• Heritage Commerce recently announced a quarterly dividend of $0.13 per share, resulting in an annualized yield of 5.3%.
• Equities analysts have mixed views on Heritage Commerce, with a consensus rating of "Buy" and an average target price of $10.67.

Versor Investments LP acquired a new stake in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 74,500 shares of the financial services provider's stock, valued at approximately $709,000. Versor Investments LP owned about 0.12% of Heritage Commerce as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HTBK. Nuveen LLC acquired a new stake in Heritage Commerce in the 1st quarter valued at approximately $4,861,000. Wellington Management Group LLP grew its holdings 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 buying an additional 268,900 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Heritage Commerce in the 4th quarter valued at approximately $2,181,000. Millennium Management LLC acquired a new stake in Heritage Commerce in the 4th quarter valued at approximately $1,881,000. Finally, Dimensional Fund Advisors LP grew its holdings 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 buying an additional 130,144 shares during the last quarter. Institutional investors and hedge funds own 75.55% of the company's stock.

Heritage Commerce Price Performance

Shares of HTBK stock traded up $0.01 during trading hours on Monday, reaching $10.10. 831,558 shares of the company were exchanged, compared to its average volume of 663,381. The company has a market cap of $620.65 million, a price-to-earnings ratio of 16.03 and a beta of 0.85. Heritage Commerce Corp has a fifty-two week low of $8.09 and a fifty-two week high of $11.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77. The stock's fifty day moving average is $9.88 and its two-hundred day moving average is $9.61.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.02. The company had revenue of $47.78 million during the quarter, compared to the consensus estimate of $47.17 million. Heritage Commerce had a return on equity of 6.61% and a net margin of 15.00%. Sell-side analysts forecast that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were given 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 dividend yield of 5.1%. Heritage Commerce's payout ratio is presently 82.54%.

Insider Buying and Selling at Heritage Commerce

In other news, COO Thomas A. Sa bought 20,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was bought at an average price of $9.25 per share, for a total transaction of $185,000.00. Following the completion of the transaction, the chief operating officer directly owned 20,000 shares in the company, valued at $185,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HTBK. Wall Street Zen lowered Heritage Commerce from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Stephens reaffirmed an "overweight" rating and issued a $11.00 target price on shares of Heritage Commerce in a report on Monday, April 28th. Finally, Raymond James Financial set a $10.00 target price on Heritage Commerce in a report on Monday, April 28th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $10.67.

Heritage Commerce Company 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.