BlackRock Inc. increased its position in Heritage Commerce Corp. (NASDAQ:HTBK) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,898,549 shares of the financial services provider’s stock after buying an additional 32,414 shares during the quarter. BlackRock Inc. owned about 0.08% of Heritage Commerce worth $44,406,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in Heritage Commerce by 471.6% during the 4th quarter. Meeder Asset Management Inc. now owns 8,100 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 6,683 shares during the last quarter. Trexquant Investment LP bought a new position in Heritage Commerce during the 3rd quarter valued at $146,000. Teacher Retirement System of Texas bought a new position in Heritage Commerce during the 4th quarter valued at $190,000. Acadian Asset Management LLC bought a new position in Heritage Commerce during the 4th quarter valued at $195,000. Finally, Bank of Montreal Can boosted its stake in Heritage Commerce by 40.8% during the 4th quarter. Bank of Montreal Can now owns 13,042 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 3,782 shares during the last quarter. Institutional investors and hedge funds own 71.38% of the company’s stock.
Heritage Commerce stock opened at $16.26 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.76 and a current ratio of 0.76. Heritage Commerce Corp. has a 1 year low of $12.76 and a 1 year high of $17.28. The stock has a market capitalization of $634.90, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.63 and a beta of 0.58.
Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). Heritage Commerce had a return on equity of 11.46% and a net margin of 20.56%. The business had revenue of $29.01 million during the quarter, compared to the consensus estimate of $29.65 million. research analysts expect that Heritage Commerce Corp. will post 1.02 earnings per share for the current year.
In other news, Director Jack W. Conner sold 24,500 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $15.47, for a total value of $379,015.00. Following the transaction, the director now directly owns 83,324 shares in the company, valued at approximately $1,289,022.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.69% of the company’s stock.
A number of research firms have commented on HTBK. Brean Capital reiterated a “buy” rating on shares of Heritage Commerce in a research note on Thursday. Zacks Investment Research downgraded shares of Heritage Commerce from a “buy” rating to a “hold” rating in a research note on Saturday, March 31st. BidaskClub upgraded shares of Heritage Commerce from a “hold” rating to a “buy” rating in a research note on Thursday, March 22nd. Keefe, Bruyette & Woods upgraded shares of Heritage Commerce from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 13th. Finally, DA Davidson upgraded shares of Heritage Commerce from a “neutral” rating to a “buy” rating in a research note on Monday, February 12th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $18.25.
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Heritage Commerce Company Profile
Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
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