Deutsche Bank AG Acquires 18,013 Shares of Heritage Commerce Corp (NASDAQ:HTBK)

Deutsche Bank AG lifted its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 42.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 60,859 shares of the financial services provider’s stock after acquiring an additional 18,013 shares during the quarter. Deutsche Bank AG owned 0.10% of Heritage Commerce worth $571,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC increased its position in Heritage Commerce by 7.2% during the 3rd quarter. Barclays PLC now owns 216,439 shares of the financial services provider’s stock valued at $2,139,000 after purchasing an additional 14,466 shares during the period. Sei Investments Co. increased its position in Heritage Commerce by 90.5% during the 4th quarter. Sei Investments Co. now owns 63,565 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 30,192 shares during the period. Raymond James Financial Inc. purchased a new position in Heritage Commerce during the 4th quarter valued at $2,181,000. Empowered Funds LLC increased its position in Heritage Commerce by 5.1% during the 4th quarter. Empowered Funds LLC now owns 158,347 shares of the financial services provider’s stock valued at $1,485,000 after purchasing an additional 7,614 shares during the period. Finally, Wellington Management Group LLP increased its position in Heritage Commerce by 13.2% during the 4th quarter. Wellington Management Group LLP now owns 2,302,615 shares of the financial services provider’s stock valued at $21,599,000 after purchasing an additional 268,900 shares during the period. 75.55% of the stock is currently owned by institutional investors.

Heritage Commerce Stock Performance

Shares of HTBK stock opened at $9.13 on Thursday. Heritage Commerce Corp has a 12 month low of $7.74 and a 12 month high of $11.27. The stock has a market cap of $562.37 million, a PE ratio of 13.83 and a beta of 0.77. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average price is $9.06 and its 200-day moving average price is $9.67.

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

Heritage Commerce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend was Thursday, May 8th. Heritage Commerce’s payout ratio is 76.47%.

Analysts Set New Price Targets

A number of brokerages have recently commented on HTBK. Raymond James set a $10.00 target price on shares of Heritage Commerce in a report on Monday, April 28th. Keefe, Bruyette & Woods dropped their target price on shares of Heritage Commerce from $11.50 to $11.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Stephens restated an “overweight” rating and set a $11.00 target price on shares of Heritage Commerce in a report on Monday, April 28th.

Insider Buying and Selling

In related news, CEO Robertson Clay Jones, Jr. sold 5,145 shares of the company’s 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 transaction, the chief executive officer now owns 254,227 shares in the company, valued at $2,473,628.71. The trade was a 1.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.71% of the stock is currently owned by company 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.