Boston Partners grew its position in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 101.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,893,847 shares of the financial services provider's stock after purchasing an additional 953,372 shares during the quarter. Boston Partners owned 3.10% of Heritage Commerce worth $18,718,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Swiss National Bank lifted its holdings in Heritage Commerce by 2.3% in the 3rd quarter. Swiss National Bank now owns 134,000 shares of the financial services provider's stock valued at $1,135,000 after acquiring an additional 3,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Heritage Commerce by 94.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,381 shares of the financial services provider's stock worth $182,000 after buying an additional 8,905 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Heritage Commerce by 10.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 87,264 shares of the financial services provider's stock valued at $866,000 after buying an additional 8,600 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Heritage Commerce by 5.5% in the 3rd quarter. Federated Hermes Inc. now owns 81,122 shares of the financial services provider's stock valued at $687,000 after purchasing an additional 4,220 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of Heritage Commerce by 54.7% in the fourth quarter. Diversified Trust Co now owns 17,267 shares of the financial services provider's stock worth $171,000 after buying an additional 6,103 shares during the period. Institutional investors own 75.55% of the company's stock.
Heritage Commerce Stock Down 0.1 %
NASDAQ HTBK traded down $0.01 on Thursday, reaching $8.41. The stock had a trading volume of 245,670 shares, compared to its average volume of 380,426. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a 1 year low of $7.18 and a 1 year high of $10.22. The business has a 50 day moving average price of $8.24 and a 200 day moving average price of $8.70. The company has a market capitalization of $515.20 million, a price-to-earnings ratio of 9.15 and a beta of 0.91.
Heritage Commerce (NASDAQ:HTBK - Get Free Report) last released its quarterly earnings results on Friday, April 26th. The financial services provider reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.02). The business had revenue of $59.60 million for the quarter, compared to the consensus estimate of $43.83 million. Heritage Commerce had a net margin of 22.84% and a return on equity of 8.36%. On average, analysts forecast that Heritage Commerce Corp will post 0.74 EPS for the current fiscal year.
Heritage Commerce Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date is Wednesday, May 8th. Heritage Commerce's payout ratio is 56.52%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Piper Sandler reduced their target price on Heritage Commerce from $11.00 to $10.00 and set an "overweight" rating for the company in a report on Friday, April 26th. Keefe, Bruyette & Woods reduced their price objective on Heritage Commerce from $12.00 to $11.00 and set an "outperform" rating for the company in a research note on Friday, January 26th. Finally, StockNews.com cut Heritage Commerce from a "hold" rating to a "sell" rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Heritage Commerce has an average rating of "Hold" and a consensus price target of $10.50.
Read Our Latest Stock Report on Heritage Commerce
Heritage Commerce Company Profile
(
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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