Heritage Commerce Corp (NASDAQ:HTBK) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its position in Heritage Commerce Corp (NASDAQ:HTBK) by 20.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,157 shares of the financial services provider’s stock after selling 26,011 shares during the quarter. Russell Investments Group Ltd. owned 0.17% of Heritage Commerce worth $851,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D grew its position in Heritage Commerce by 16.9% in the first quarter. State of New Jersey Common Pension Fund D now owns 189,548 shares of the financial services provider’s stock valued at $1,579,000 after acquiring an additional 27,452 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Heritage Commerce by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,011,655 shares of the financial services provider’s stock valued at $39,150,000 after buying an additional 74,657 shares during the last quarter. HRT Financial LP purchased a new position in shares of Heritage Commerce during the 4th quarter valued at approximately $448,000. Diversified Trust Co purchased a new position in shares of Heritage Commerce during the 1st quarter valued at approximately $86,000. Finally, Raymond James & Associates boosted its stake in shares of Heritage Commerce by 16.4% during the 1st quarter. Raymond James & Associates now owns 16,740 shares of the financial services provider’s stock valued at $139,000 after buying an additional 2,353 shares during the last quarter. Institutional investors and hedge funds own 72.80% of the company’s stock.

Heritage Commerce Stock Performance

HTBK stock opened at $8.86 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $541.27 million, a price-to-earnings ratio of 7.27 and a beta of 1.00. Heritage Commerce Corp has a 1 year low of $6.69 and a 1 year high of $14.87. The stock’s fifty day moving average is $8.98 and its two-hundred day moving average is $8.92.

Heritage Commerce (NASDAQ:HTBK) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The company had revenue of $48.37 million during the quarter, compared to the consensus estimate of $51.03 million. Heritage Commerce had a net margin of 32.20% and a return on equity of 11.67%. On average, research analysts predict that Heritage Commerce Corp will post 1.09 EPS for the current year.

Heritage Commerce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date was Wednesday, August 9th. Heritage Commerce’s payout ratio is 42.62%.

Wall Street Analyst Weigh In

HTBK has been the subject of several research analyst reports. StockNews.com upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Raymond James raised their price objective on Heritage Commerce from $10.00 to $10.50 and gave the stock an “outperform” rating in a research note on Monday, July 31st. TheStreet upgraded Heritage Commerce from a “c+” rating to a “b-” rating in a research note on Wednesday, July 26th. Stephens cut Heritage Commerce from an “overweight” rating to an “equal weight” rating and set a $10.00 price objective on the stock. in a research note on Friday, August 11th. They noted that the move was a valuation call. Finally, Piper Sandler raised their price objective on Heritage Commerce from $10.00 to $11.00 in a research note on Friday, July 28th.

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.