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

A number of other hedge funds and other institutional investors have also modified their holdings of HTBK. Nuveen LLC acquired a new position in shares of Heritage Commerce in the 1st quarter valued at $4,861,000. Wellington Management Group LLP boosted its position in shares of 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 period. Raymond James Financial Inc. acquired a new position in shares of Heritage Commerce in the 4th quarter valued at $2,181,000. Millennium Management LLC acquired a new stake in Heritage Commerce during the 4th quarter worth about $1,881,000. Finally, Dimensional Fund Advisors LP grew its stake in Heritage Commerce by 4.0% during 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 acquiring an additional 130,144 shares in the last quarter. Institutional investors and hedge funds own 75.55% of the company's stock.

Insiders Place Their Bets

In related news, COO Thomas A. Sa bought 20,000 shares of Heritage Commerce stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $9.25 per share, for a total transaction of $185,000.00. Following the acquisition, the chief operating officer owned 20,000 shares in the company, valued at $185,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.71% of the company's stock.

Heritage Commerce Stock Up 0.3%

Shares of Heritage Commerce stock traded up $0.0350 during trading on Monday, hitting $10.1250. 82,969 shares of the stock traded hands, compared to its average volume of 422,600. The stock has a market cap of $622.18 million, a P/E ratio of 16.07 and a beta of 0.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77. Heritage Commerce Corp has a twelve month low of $8.09 and a twelve month high of $11.27. The company has a fifty day moving average price of $9.86 and a two-hundred day moving average price of $9.61.

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

Heritage Commerce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Thursday, August 7th. Heritage Commerce's payout ratio is currently 82.54%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HTBK. Stephens reaffirmed an "overweight" rating and set a $11.00 target price on shares of Heritage Commerce in a research note on Monday, April 28th. Wall Street Zen cut Heritage Commerce from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, Raymond James Financial set a $10.00 target price on Heritage Commerce in a research note on Monday, April 28th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price 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.