Heritage Commerce Corp (NASDAQ:HTBK) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP grew its position in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 13.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,302,615 shares of the financial services provider's stock after purchasing an additional 268,900 shares during the quarter. Wellington Management Group LLP owned approximately 3.75% of Heritage Commerce worth $21,599,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in HTBK. Dimensional Fund Advisors LP grew its stake 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 acquiring an additional 130,144 shares during the period. Boston Partners raised its holdings in shares of Heritage Commerce by 1.7% during the fourth quarter. Boston Partners now owns 1,564,741 shares of the financial services provider's stock valued at $14,620,000 after acquiring an additional 26,442 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 acquiring an additional 4,756 shares during the last quarter. American Century Companies Inc. raised 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 valued at $10,599,000 after buying an additional 36,821 shares during the last quarter. Finally, AlTi Global Inc. boosted its holdings in shares of Heritage Commerce by 0.9% during the 4th quarter. AlTi Global Inc. now owns 654,175 shares of the financial services provider's stock worth $6,136,000 after purchasing an additional 5,889 shares during the last quarter. 75.55% of the stock is owned by hedge funds and other institutional investors.

Heritage Commerce Stock Down 0.5%

HTBK traded down $0.05 during trading hours on Wednesday, hitting $9.25. 487,026 shares of the company's stock were exchanged, compared to its average volume of 375,203. The firm has a market cap of $569.76 million, a P/E ratio of 14.02 and a beta of 0.77. Heritage Commerce Corp has a 12-month low of $7.74 and a 12-month high of $11.27. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $9.02 and a 200 day moving average of $9.62.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. The business had revenue of $46.06 million for the quarter, compared to analyst estimates of $45.89 million. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. Analysts predict that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend was Thursday, May 8th. Heritage Commerce's dividend payout ratio is currently 76.47%.

Wall Street Analyst Weigh In

HTBK has been the topic of a number of research analyst reports. Raymond James set a $10.00 target price on Heritage Commerce in a research report on Monday, April 28th. Stephens reaffirmed an "overweight" rating and set a $11.00 price objective on shares of Heritage Commerce in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their price objective 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.

Insider Activity

In related news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.73, for a total transaction of $50,060.85. Following the completion of the transaction, the chief executive officer now owns 254,227 shares in the company, valued at approximately $2,473,628.71. The trade was a 1.98% decrease in their ownership of the stock. The sale 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.

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.