Cerity Partners LLC Raises Stock Holdings 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 disclosure with the Securities and Exchange Commission. The fund owned 148,300 shares of the financial services provider’s stock after acquiring an additional 2,726 shares during the quarter. Cerity Partners LLC owned 0.24% of Heritage Commerce worth $1,412,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HTBK. Wealth Enhancement Advisory Services LLC increased its position in Heritage Commerce by 52.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,736 shares of the financial services provider’s stock worth $232,000 after buying an additional 8,474 shares during the last quarter. Millennium Management LLC purchased a new stake in Heritage Commerce in the fourth quarter worth $1,881,000. Deutsche Bank AG increased its position in Heritage Commerce by 42.0% in the fourth quarter. Deutsche Bank AG now owns 60,859 shares of the financial services provider’s stock worth $571,000 after buying an additional 18,013 shares during the last quarter. ProShare Advisors LLC increased its position in Heritage Commerce by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 16,785 shares of the financial services provider’s stock worth $157,000 after buying an additional 5,523 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Heritage Commerce by 13.2% in the fourth quarter. Wellington Management Group LLP now owns 2,302,615 shares of the financial services provider’s stock worth $21,599,000 after buying an additional 268,900 shares during the last quarter. 75.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. Keefe, Bruyette & Woods dropped their price objective 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. Stephens reissued an “overweight” rating and set a $11.00 price objective on shares of Heritage Commerce in a research note on Monday, April 28th. Finally, Raymond James Financial set a $10.00 price objective on Heritage Commerce in a research note on Monday, April 28th.

Heritage Commerce Trading Down 0.5%

Shares of HTBK stock opened at $10.24 on Tuesday. Heritage Commerce Corp has a 52-week low of $8.09 and a 52-week high of $11.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $630.78 million, a PE ratio of 15.06 and a beta of 0.81. The stock has a fifty day simple moving average of $9.68 and a two-hundred day simple moving average of $9.55.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Heritage Commerce had a net margin of 16.38% and a return on equity of 6.11%. The business had revenue of $46.06 million during the quarter, compared to the consensus estimate of $45.89 million. On average, analysts predict that Heritage Commerce Corp will post 0.8 EPS for the current fiscal year.

Heritage Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date was Thursday, May 8th. Heritage Commerce’s payout ratio is 76.47%.

Heritage Commerce Company 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.