Heritage Commerce Corp (NASDAQ:HTBK) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,118,504 shares of the financial services provider’s stock after acquiring an additional 36,615 shares during the period. Vanguard Group Inc. owned about 0.05% of Heritage Commerce worth $26,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in Heritage Commerce by 42.3% during the 3rd quarter. American Century Companies Inc. now owns 339,674 shares of the financial services provider’s stock worth $2,877,000 after acquiring an additional 100,927 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Heritage Commerce by 23.6% during the 3rd quarter. Deutsche Bank AG now owns 27,555 shares of the financial services provider’s stock worth $233,000 after buying an additional 5,268 shares during the last quarter. Graham Capital Management L.P. lifted its position in shares of Heritage Commerce by 5.8% during the 3rd quarter. Graham Capital Management L.P. now owns 21,468 shares of the financial services provider’s stock worth $182,000 after buying an additional 1,172 shares during the last quarter. Creative Planning lifted its position in shares of Heritage Commerce by 93.0% during the 3rd quarter. Creative Planning now owns 31,990 shares of the financial services provider’s stock worth $271,000 after buying an additional 15,412 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Heritage Commerce by 22.5% during the 3rd quarter. Royal Bank of Canada now owns 46,589 shares of the financial services provider’s stock worth $394,000 after buying an additional 8,567 shares during the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

Heritage Commerce Stock Down 0.1 %

HTBK stock opened at $7.91 on Friday. The company has a fifty day moving average price of $8.29 and a 200 day moving average price of $8.73. Heritage Commerce Corp has a 12 month low of $6.69 and a 12 month high of $10.22. The company has a market cap of $483.85 million, a price-to-earnings ratio of 7.46 and a beta of 0.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.77 and a quick ratio of 0.77.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.02). Heritage Commerce had a net margin of 26.49% and a return on equity of 9.78%. The business had revenue of $44.24 million during the quarter, compared to analysts’ expectations of $46.38 million. Sell-side analysts expect that Heritage Commerce Corp will post 0.81 earnings per share for the current year.

Heritage Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th were paid a $0.13 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $0.52 annualized dividend and a yield of 6.57%. Heritage Commerce’s dividend payout ratio is currently 49.06%.

Wall Street Analyst Weigh In

HTBK has been the subject of several recent analyst reports. Raymond James boosted their price objective on shares of Heritage Commerce from $9.50 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. StockNews.com upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Tuesday. Piper Sandler boosted their price objective on shares of Heritage Commerce from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Heritage Commerce from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.75.

Insider Buying and Selling at Heritage Commerce

In other Heritage Commerce news, Director Jack W. Conner sold 6,944 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $8.92, for a total value of $61,940.48. Following the transaction, the director now directly owns 102,501 shares of the company’s stock, valued at approximately $914,308.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.15% of the stock is currently owned by corporate insiders.

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.