Wealth Enhancement Advisory Services LLC Has $232,000 Position in Heritage Commerce Corp (NASDAQ:HTBK)

Wealth Enhancement Advisory Services LLC increased its position in Heritage Commerce Corp (NASDAQ:HTBK) by 52.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,736 shares of the financial services provider’s stock after buying an additional 8,474 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Heritage Commerce were worth $232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Heritage Commerce by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,920 shares of the financial services provider’s stock worth $318,000 after buying an additional 1,115 shares in the last quarter. First Trust Advisors LP increased its position in shares of Heritage Commerce by 3.5% during 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 during the last quarter. US Bancorp DE increased its holdings in Heritage Commerce by 64.8% in the 4th quarter. US Bancorp DE now owns 3,473 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 1,365 shares during the last quarter. Princeton Capital Management LLC boosted its stake in 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 worth $160,000 after purchasing an additional 2,000 shares during the period. Finally, Quarry LP boosted its stake in Heritage Commerce by 562.4% in the 4th quarter. Quarry LP now owns 3,153 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 2,677 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HTBK. Keefe, Bruyette & Woods cut their target price 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. Wall Street Zen downgraded Heritage Commerce from a “hold” rating to a “sell” rating in a research note on Friday, June 6th. Raymond James set a $10.00 target price on Heritage Commerce in a research note on Monday, April 28th. Finally, Stephens restated an “overweight” rating and issued a $11.00 target price on shares of Heritage Commerce in a research note on Monday, April 28th.

Heritage Commerce Stock Performance

Shares of HTBK opened at $9.25 on Tuesday. The company has a market cap of $569.76 million, a PE ratio of 14.02 and a beta of 0.79. 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 stock has a 50-day moving average price of $9.12 and a 200-day moving average price of $9.53. Heritage Commerce Corp has a 12-month low of $7.74 and a 12-month high of $11.27.

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

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.62%. Heritage Commerce’s dividend payout ratio (DPR) 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.