Franklin Resources Inc. Acquires 1,302 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Franklin Resources Inc. raised its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,089 shares of the financial services provider’s stock after purchasing an additional 1,302 shares during the quarter. Franklin Resources Inc. owned 0.08% of Heritage Commerce worth $449,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. nVerses Capital LLC bought a new position in Heritage Commerce in the 3rd quarter valued at $73,000. FMR LLC boosted its stake in shares of Heritage Commerce by 103.7% during the third quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 3,987 shares during the period. One Wealth Advisors LLC bought a new position in shares of Heritage Commerce in the third quarter worth about $99,000. NorthCrest Asset Manangement LLC purchased a new position in Heritage Commerce in the 3rd quarter worth about $100,000. Finally, Point72 Asset Management L.P. bought a new stake in Heritage Commerce during the 3rd quarter valued at about $107,000. Institutional investors own 75.55% of the company’s stock.

Heritage Commerce Stock Up 0.1 %

Heritage Commerce stock opened at $9.38 on Wednesday. Heritage Commerce Corp has a fifty-two week low of $7.66 and a fifty-two week high of $11.27. The company has a market cap of $574.99 million, a PE ratio of 13.21 and a beta of 0.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. The business’s 50-day simple moving average is $10.21 and its two-hundred day simple moving average is $9.77.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Heritage Commerce had a net margin of 17.61% and a return on equity of 6.37%. The company had revenue of $63.68 million for the quarter, compared to analyst estimates of $43.14 million. Equities analysts anticipate that Heritage Commerce Corp will post 0.66 EPS for the current year.

Heritage Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend was Thursday, November 7th. Heritage Commerce’s dividend payout ratio (DPR) is presently 73.24%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th.

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. 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.