Vanguard Group Inc. Purchases 123,973 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Vanguard Group Inc. raised its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,309,141 shares of the financial services provider's stock after purchasing an additional 123,973 shares during the period. Vanguard Group Inc. owned 5.40% of Heritage Commerce worth $28,392,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HTBK. Boston Partners grew its holdings in Heritage Commerce by 101.4% during the fourth quarter. Boston Partners now owns 1,893,847 shares of the financial services provider's stock valued at $18,718,000 after purchasing an additional 953,372 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Heritage Commerce by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,959,913 shares of the financial services provider's stock valued at $29,363,000 after purchasing an additional 202,504 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Heritage Commerce by 150.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 212,680 shares of the financial services provider's stock valued at $2,110,000 after purchasing an additional 127,730 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Heritage Commerce by 27.2% in the fourth quarter. Panagora Asset Management Inc. now owns 285,310 shares of the financial services provider's stock worth $2,830,000 after acquiring an additional 60,957 shares during the last quarter. Finally, Banc Funds Co. LLC grew its stake in shares of Heritage Commerce by 8.2% in the fourth quarter. Banc Funds Co. LLC now owns 683,598 shares of the financial services provider's stock worth $6,781,000 after acquiring an additional 51,515 shares during the last quarter. Institutional investors and hedge funds own 75.55% of the company's stock.

Heritage Commerce Price Performance

Shares of Heritage Commerce stock traded up $0.01 during trading on Friday, reaching $9.50. The company's stock had a trading volume of 367,382 shares, compared to its average volume of 404,238. The stock has a 50-day moving average price of $8.94 and a two-hundred day moving average price of $8.54. 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 one year low of $7.66 and a one year high of $10.99. The stock has a market capitalization of $581.93 million, a P/E ratio of 10.33 and a beta of 0.94.

Heritage Commerce (NASDAQ:HTBK - Get Free Report) last announced its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.04). The firm had revenue of $61.35 million during the quarter, compared to analyst estimates of $43.35 million. Heritage Commerce had a return on equity of 7.24% and a net margin of 19.82%. As a group, sell-side analysts anticipate that Heritage Commerce Corp will post 0.68 EPS for the current fiscal year.

Heritage Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.52 dividend on an annualized basis and a yield of 5.47%. Heritage Commerce's payout ratio is 56.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on HTBK shares. Keefe, Bruyette & Woods raised their price objective on shares of Heritage Commerce from $10.50 to $11.50 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Piper Sandler raised their target price on Heritage Commerce from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th. Finally, StockNews.com cut Heritage Commerce from a "hold" rating to a "sell" rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $11.13.

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.