Jump Financial LLC Buys New Position in Heritage Commerce Corp (NASDAQ:HTBK)

Jump Financial LLC bought a new position in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 40,000 shares of the financial services provider's stock, valued at approximately $375,000. Jump Financial LLC owned 0.07% of Heritage Commerce at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE increased its position in Heritage Commerce by 64.8% during the 4th quarter. US Bancorp DE now owns 3,473 shares of the financial services provider's stock worth $33,000 after buying an additional 1,365 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Heritage Commerce in the 4th quarter worth about $99,000. Fox Run Management L.L.C. bought a new stake in Heritage Commerce in the 4th quarter valued at about $123,000. KLP Kapitalforvaltning AS acquired a new position in shares of Heritage Commerce during the 4th quarter worth approximately $129,000. Finally, Aigen Investment Management LP grew its position in shares of Heritage Commerce by 21.1% during the 4th quarter. Aigen Investment Management LP now owns 15,866 shares of the financial services provider's stock worth $149,000 after purchasing an additional 2,764 shares in the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reduced their price target on Heritage Commerce from $11.50 to $11.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Stephens reissued an "overweight" rating and set a $11.00 target price on shares of Heritage Commerce in a report on Monday. Finally, Raymond James set a $10.00 price target on Heritage Commerce in a research note on Monday.

Heritage Commerce Price Performance

HTBK traded up $0.07 during trading on Thursday, hitting $9.11. 47,501 shares of the stock traded hands, compared to its average volume of 373,262. The business has a 50 day moving average price of $9.34 and a 200 day moving average price of $9.75. The company has a market cap of $561.34 million, a price-to-earnings ratio of 13.85 and a beta of 0.81. Heritage Commerce Corp has a twelve month low of $7.74 and a twelve month high of $11.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last issued its 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. The firm had revenue of $46.06 million during the quarter, compared to the consensus estimate of $45.89 million. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. Equities research analysts forecast that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $0.52 annualized dividend and a dividend yield of 5.71%. Heritage Commerce's dividend payout ratio (DPR) is presently 76.47%.

Insider Activity at Heritage Commerce

In related news, Director Jack W. Conner sold 4,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $10.52, for a total transaction of $42,080.00. Following the completion of the transaction, the director now directly owns 108,512 shares of the company's stock, valued at $1,141,546.24. This trade represents a 3.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robertson Clay Jones, Jr. sold 5,145 shares of Heritage Commerce stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $9.73, for a total value of $50,060.85. Following the completion of the transaction, the chief executive officer now directly owns 254,227 shares in the company, valued at approximately $2,473,628.71. This represents a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,747 shares of company stock valued at $107,728 in the last 90 days. 2.71% of the stock is owned by corporate insiders.

Heritage Commerce 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.