Heritage Commerce Corp (NASDAQ:HTBK) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,600 shares of the financial services provider’s stock after purchasing an additional 3,234 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Heritage Commerce were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. First Trust Advisors LP raised its position in shares of Heritage Commerce by 3.5% in the 4th quarter. First Trust Advisors LP now owns 38,379 shares of the financial services provider’s stock valued at $360,000 after purchasing an additional 1,297 shares in the last quarter. US Bancorp DE raised its position in shares of Heritage Commerce by 64.8% in the 4th quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,365 shares in the last quarter. Princeton Capital Management LLC raised its position in shares of Heritage Commerce by 13.3% in the 4th quarter. Princeton Capital Management LLC now owns 17,041 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 2,000 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Heritage Commerce by 5.9% in the 4th quarter. SG Americas Securities LLC now owns 45,763 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 2,558 shares in the last quarter. Finally, Aigen Investment Management LP raised its position in shares of Heritage Commerce by 21.1% in the 4th quarter. Aigen Investment Management LP now owns 15,866 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 2,764 shares in the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $9.73, for a total value of $50,060.85. Following the completion of the transaction, the chief executive officer now owns 254,227 shares of the company’s stock, valued at approximately $2,473,628.71. This represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jack W. Conner sold 4,000 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $10.52, for a total value of $42,080.00. Following the completion of the transaction, the director now directly 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 have sold 10,747 shares of company stock valued at $107,728 over the last three months. Company insiders own 2.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Raymond James set a $10.00 price target on Heritage Commerce in a research report on Monday, April 28th. Keefe, Bruyette & Woods dropped their price target on Heritage Commerce from $11.50 to $11.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Finally, Stephens reissued an “overweight” rating and set a $11.00 price target on shares of Heritage Commerce in a research report on Monday, April 28th.

Heritage Commerce Price Performance

Shares of NASDAQ HTBK opened at $9.48 on Friday. Heritage Commerce Corp has a 1-year low of $7.74 and a 1-year high of $11.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. The business’s fifty day moving average price is $9.13 and its two-hundred day moving average price is $9.72. The firm has a market capitalization of $583.93 million, a PE ratio of 14.36 and a beta of 0.77.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. The firm had revenue of $46.06 million for the quarter, compared to analyst estimates of $45.89 million. On average, research analysts expect that Heritage Commerce Corp will post 0.8 EPS for the current year.

Heritage Commerce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 5.49%. The ex-dividend date is Thursday, May 8th. Heritage Commerce’s dividend payout ratio is presently 76.47%.

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.