Cerity Partners LLC Has $1.41 Million Stock Position in Heritage Commerce Corp (NASDAQ:HTBK)

Cerity Partners LLC lifted its holdings in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 1.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 148,300 shares of the financial services provider’s stock after buying an additional 2,726 shares during the period. Cerity Partners LLC owned about 0.24% of Heritage Commerce worth $1,412,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Heritage Commerce by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 500,637 shares of the financial services provider’s stock valued at $4,696,000 after buying an additional 4,447 shares during the period. Proficio Capital Partners LLC bought a new stake in Heritage Commerce during the 4th quarter valued at $173,000. Raymond James Financial Inc. bought a new position in shares of Heritage Commerce in the fourth quarter valued at $2,181,000. Intech Investment Management LLC increased its position in shares of Heritage Commerce by 170.2% during the fourth quarter. Intech Investment Management LLC now owns 31,859 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 20,068 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Heritage Commerce by 3.4% in the 4th quarter. American Century Companies Inc. now owns 1,129,910 shares of the financial services provider’s stock valued at $10,599,000 after acquiring an additional 36,821 shares in the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HTBK has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Raymond James Financial set a $10.00 price target on Heritage Commerce in a report on Monday, April 28th. Keefe, Bruyette & Woods cut their price objective on Heritage Commerce from $11.50 to $11.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, Stephens reiterated an “overweight” rating and set a $11.00 target price on shares of Heritage Commerce in a research report on Monday, April 28th.

Heritage Commerce Trading Down 0.5%

Shares of NASDAQ:HTBK opened at $10.24 on Tuesday. Heritage Commerce Corp has a 1 year low of $8.09 and a 1 year high of $11.27. The firm has a market capitalization of $630.78 million, a price-to-earnings ratio of 15.13 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The business’s 50 day moving average price is $9.68 and its 200-day moving average price is $9.55.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings data 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 6.11% and a net margin of 16.38%. The company had revenue of $46.06 million during the quarter, compared to analyst estimates of $45.89 million. On average, equities research analysts forecast 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 was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend was Thursday, May 8th. Heritage Commerce’s dividend payout ratio (DPR) is 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.