Wells Fargo & Company MN raised its stake in Heritage Commerce Corp. (NASDAQ:HTBK) by 111.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,376 shares of the financial services provider’s stock after purchasing an additional 59,680 shares during the period. Wells Fargo & Company MN’s holdings in Heritage Commerce were worth $1,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of HTBK. Nationwide Fund Advisors grew its stake in Heritage Commerce by 21.7% in the third quarter. Nationwide Fund Advisors now owns 62,754 shares of the financial services provider’s stock valued at $893,000 after purchasing an additional 11,200 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Heritage Commerce by 33.7% during the third quarter. Russell Investments Group Ltd. now owns 104,860 shares of the financial services provider’s stock worth $1,492,000 after acquiring an additional 26,427 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Heritage Commerce by 147.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 129,836 shares of the financial services provider’s stock worth $1,848,000 after acquiring an additional 77,336 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Heritage Commerce by 5.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,652,384 shares of the financial services provider’s stock worth $23,513,000 after acquiring an additional 82,543 shares during the last quarter. Finally, OxFORD Asset Management LLP grew its stake in shares of Heritage Commerce by 26.8% during the third quarter. OxFORD Asset Management LLP now owns 61,331 shares of the financial services provider’s stock worth $875,000 after acquiring an additional 12,949 shares during the last quarter. Institutional investors own 68.02% of the company’s stock.
Shares of HTBK stock opened at $16.40 on Tuesday. Heritage Commerce Corp. has a fifty-two week low of $12.76 and a fifty-two week high of $17.28. The stock has a market cap of $651.32, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.59 and a beta of 0.58. 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 (NASDAQ:HTBK) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.22 earnings per share 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 for the quarter, compared to analysts’ expectations of $29.65 million. sell-side analysts predict that Heritage Commerce Corp. will post 1.02 EPS for the current year.
In other news, Director Jack W. Conner sold 24,500 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $15.47, for a total transaction of $379,015.00. Following the sale, the director now owns 83,324 shares in the company, valued at $1,289,022.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.40% of the stock is currently owned by insiders.
A number of equities research analysts have recently weighed in on HTBK shares. BidaskClub upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Brean Capital restated a “buy” rating on shares of Heritage Commerce in a research note on Tuesday, January 2nd. DA Davidson upgraded Heritage Commerce from a “neutral” rating to a “buy” rating in a research note on Monday, February 12th. Zacks Investment Research lowered Heritage Commerce from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Finally, Keefe, Bruyette & Woods upgraded Heritage Commerce from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 13th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Heritage Commerce presently has an average rating of “Buy” and an average 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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