Heritage Commerce Corp (NASDAQ:HTBK) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership cut its position in Heritage Commerce Corp (NASDAQ:HTBK) by 89.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,555 shares of the financial services provider’s stock after selling 169,189 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Heritage Commerce were worth $183,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of Heritage Commerce by 3.2% in the 3rd quarter. State Street Corp now owns 1,965,643 shares of the financial services provider’s stock valued at $19,421,000 after buying an additional 61,630 shares during the period. Barclays PLC increased its stake in Heritage Commerce by 7.2% during the 3rd quarter. Barclays PLC now owns 216,439 shares of the financial services provider’s stock worth $2,139,000 after buying an additional 14,466 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Heritage Commerce by 58.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 463,774 shares of the financial services provider’s stock worth $4,350,000 after purchasing an additional 170,989 shares in the last quarter. Jane Street Group LLC raised its position in shares of Heritage Commerce by 55.6% in the third quarter. Jane Street Group LLC now owns 103,596 shares of the financial services provider’s stock valued at $1,024,000 after buying an additional 36,997 shares during the last quarter. Finally, FMR LLC raised its holdings in Heritage Commerce by 103.7% in the 3rd quarter. FMR LLC now owns 7,832 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 3,987 shares during the last quarter. 75.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Heritage Commerce

In other Heritage Commerce news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $9.73, for a total transaction of $50,060.85. Following the completion of the transaction, the chief executive officer now owns 254,227 shares in the company, valued at approximately $2,473,628.71. This represents a 1.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack W. Conner sold 4,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $10.52, for a total transaction of $42,080.00. Following the completion of the sale, the director now owns 108,512 shares of the company’s stock, valued at approximately $1,141,546.24. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,747 shares of company stock valued at $107,728 in the last three months. 3.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Stephens upgraded Heritage Commerce from a “hold” rating to a “strong-buy” rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods decreased their price target on Heritage Commerce from $12.50 to $11.50 and set an “outperform” rating on the stock in a research note on Friday, January 24th.

Heritage Commerce Stock Performance

Shares of HTBK opened at $8.26 on Monday. The stock has a 50-day simple moving average of $9.78 and a 200-day simple moving average of $9.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.73 and a current ratio of 0.73. Heritage Commerce Corp has a 1 year low of $7.66 and a 1 year high of $11.27. The stock has a market capitalization of $508.91 million, a PE ratio of 12.52 and a beta of 0.81.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. On average, analysts predict that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.52 annualized dividend and a yield of 6.30%. Heritage Commerce’s dividend payout ratio is presently 78.79%.

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.