Heritage Commerce Corp (NASDAQ:HTBK) Shares Bought by Northern Trust Corp

Northern Trust Corp raised its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 589,814 shares of the financial services provider’s stock after acquiring an additional 5,773 shares during the quarter. Northern Trust Corp owned 0.96% of Heritage Commerce worth $5,532,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HTBK. Quarry LP lifted its holdings in Heritage Commerce by 562.4% in the fourth quarter. Quarry LP now owns 3,153 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 2,677 shares during the period. US Bancorp DE lifted its holdings in Heritage Commerce by 64.8% in the fourth quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 1,365 shares during the period. Two Sigma Securities LLC acquired a new stake in Heritage Commerce in the fourth quarter valued at $97,000. Y Intercept Hong Kong Ltd acquired a new stake in Heritage Commerce in the fourth quarter valued at $99,000. Finally, Oxford Asset Management LLP acquired a new stake in Heritage Commerce in the fourth quarter valued at $101,000. Institutional investors and hedge funds own 75.55% of the company’s stock.

Heritage Commerce Trading Down 0.4%

NASDAQ:HTBK opened at $9.35 on Wednesday. The company has a market capitalization of $575.92 million, a PE ratio of 14.17 and a beta of 0.77. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.06. Heritage Commerce Corp has a 52-week low of $7.74 and a 52-week high of $11.27. The stock has a fifty day simple moving average of $9.13 and a 200-day simple moving average of $9.71.

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

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 5.56%. The ex-dividend date of this dividend is Thursday, May 8th. Heritage Commerce’s payout ratio is 76.47%.

Analyst Ratings Changes

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

Insider Activity at Heritage Commerce

In other Heritage Commerce news, Director Jack W. Conner sold 4,000 shares of Heritage Commerce stock in a transaction dated 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 sale, the director now owns 108,512 shares in the company, valued at $1,141,546.24. The trade was a 3.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robertson Clay Jones, Jr. sold 5,145 shares of Heritage Commerce stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $9.73, for a total value of $50,060.85. Following the completion of the sale, the chief executive officer now owns 254,227 shares of the company’s stock, valued at $2,473,628.71. This trade represents a 1.98% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,747 shares of company stock valued at $107,728. 2.71% of the stock is owned by insiders.

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.