Strs Ohio Has $643,000 Stock Holdings in Heritage Commerce Corp (NASDAQ:HTBK)

Strs Ohio increased its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 37.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,900 shares of the financial services provider’s stock after buying an additional 17,800 shares during the period. Strs Ohio owned about 0.11% of Heritage Commerce worth $643,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Diversified Trust Co boosted its position in Heritage Commerce by 54.7% during the 4th quarter. Diversified Trust Co now owns 17,267 shares of the financial services provider’s stock worth $171,000 after buying an additional 6,103 shares during the period. Watershed Asset Management L.L.C. acquired a new stake in Heritage Commerce during the 3rd quarter worth approximately $248,000. SG Americas Securities LLC boosted its position in Heritage Commerce by 107.6% during the 3rd quarter. SG Americas Securities LLC now owns 32,558 shares of the financial services provider’s stock worth $276,000 after buying an additional 16,878 shares during the period. Alps Advisors Inc. acquired a new position in shares of Heritage Commerce in the 3rd quarter worth approximately $334,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Heritage Commerce by 6.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 45,098 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 2,583 shares during the period. 75.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Heritage Commerce from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Piper Sandler dropped their price target on shares of Heritage Commerce from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday. StockNews.com downgraded shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. Finally, Raymond James boosted their price target 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.50.

Heritage Commerce Stock Performance

NASDAQ:HTBK opened at $8.00 on Friday. The company has a fifty day moving average of $8.25 and a 200-day moving average of $8.71. The firm has a market capitalization of $490 million, a P/E ratio of 7.55 and a beta of 0.90. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a twelve month low of $6.69 and a twelve month high of $10.22.

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

Insider Activity

In other news, Director Jack W. Conner sold 6,944 shares of Heritage Commerce 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 completion of the sale, the director now owns 102,501 shares in the company, valued at approximately $914,308.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.99% of the stock is currently owned by company insiders.

Heritage Commerce Company 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.