Swiss National Bank raised its holdings in shares of Heritage Commerce Corp. (NASDAQ:HTBK) by 12.7% during the 3rd quarter, Holdings Channel reports. The firm owned 71,200 shares of the financial services provider’s stock after acquiring an additional 8,000 shares during the quarter. Swiss National Bank’s holdings in Heritage Commerce were worth $1,062,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its holdings in Heritage Commerce by 100.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 7,088 shares of the financial services provider’s stock worth $106,000 after buying an additional 3,549 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in Heritage Commerce by 52.8% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 211,862 shares of the financial services provider’s stock worth $3,161,000 after buying an additional 73,192 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Heritage Commerce in the 3rd quarter worth about $5,121,000. First Trust Advisors LP increased its holdings in Heritage Commerce by 16.9% in the 3rd quarter. First Trust Advisors LP now owns 121,610 shares of the financial services provider’s stock worth $1,814,000 after buying an additional 17,614 shares in the last quarter. Finally, Security National Bank increased its holdings in Heritage Commerce by 2.3% in the 3rd quarter. Security National Bank now owns 180,370 shares of the financial services provider’s stock worth $2,691,000 after buying an additional 4,013 shares in the last quarter. 73.77% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Jason Philip Dinapoli acquired 10,000 shares of the stock in a transaction dated Tuesday, October 30th. The shares were purchased at an average cost of $14.69 per share, with a total value of $146,900.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $293,800. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jack W. Conner acquired 10,418 shares of the stock in a transaction dated Monday, November 12th. The shares were bought at an average cost of $14.42 per share, for a total transaction of $150,227.56. Following the completion of the transaction, the director now owns 68,756 shares in the company, valued at $991,461.52. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 22,173 shares of company stock worth $322,049. Insiders own 5.40% of the company’s stock.
Shares of NASDAQ:HTBK opened at $13.25 on Thursday. The stock has a market capitalization of $573.45 million, a price-to-earnings ratio of 16.56, a PEG ratio of 1.93 and a beta of 0.46. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 0.70. Heritage Commerce Corp. has a 52-week low of $13.23 and a 52-week high of $18.10.
Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.01. Heritage Commerce had a return on equity of 12.45% and a net margin of 17.74%. The firm had revenue of $34.66 million for the quarter, compared to analysts’ expectations of $34.56 million. As a group, equities analysts anticipate that Heritage Commerce Corp. will post 0.98 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, November 5th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.32%. Heritage Commerce’s payout ratio is currently 55.00%.
HTBK has been the subject of several research analyst reports. BidaskClub upgraded Heritage Commerce from a “strong sell” rating to a “sell” rating in a report on Friday, August 17th. ValuEngine cut Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. Finally, Brean Capital reissued a “buy” rating and issued a $17.00 target price on shares of Heritage Commerce in a research report on Monday, October 22nd. Three analysts have rated the stock with a sell rating and four have given a buy rating to the company. Heritage Commerce presently has a consensus rating of “Hold” and an average price target of $18.50.
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About Heritage Commerce
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. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.
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