Strs Ohio Makes New Investment in Heritage Commerce Corp $HTBK

Strs Ohio acquired a new stake in Heritage Commerce Corp (NASDAQ:HTBK) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 57,500 shares of the financial services provider’s stock, valued at approximately $547,000. Strs Ohio owned 0.09% of Heritage Commerce at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HTBK. PNC Financial Services Group Inc. raised its position in Heritage Commerce by 143.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,851 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,680 shares during the period. US Bancorp DE raised its position in Heritage Commerce by 66.7% in the first quarter. US Bancorp DE now owns 5,789 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 2,316 shares during the period. Martingale Asset Management L P purchased a new position in Heritage Commerce in the first quarter valued at about $103,000. Quantinno Capital Management LP purchased a new position in Heritage Commerce in the fourth quarter valued at about $104,000. Finally, PharVision Advisers LLC purchased a new position in Heritage Commerce in the fourth quarter valued at about $125,000. 75.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $10.67.

Heritage Commerce Stock Performance

Shares of HTBK stock opened at $10.24 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average of $9.98 and a two-hundred day moving average of $9.58. Heritage Commerce Corp has a 52 week low of $8.09 and a 52 week high of $11.27. The company has a market cap of $629.22 million, a P/E ratio of 16.25 and a beta of 0.87.

Heritage Commerce (NASDAQ:HTBK) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $47.78 million during the quarter, compared to the consensus estimate of $47.17 million. Heritage Commerce had a return on equity of 6.61% and a net margin of 15.00%. As a group, analysts anticipate that Heritage Commerce Corp will post 0.8 EPS for the current year.

Heritage Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Thursday, August 7th. Heritage Commerce’s payout ratio is 82.54%.

Insider Buying and Selling at Heritage Commerce

In other Heritage Commerce news, COO Thomas A. Sa purchased 20,000 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were bought at an average price of $9.25 per share, with a total value of $185,000.00. Following the completion of the acquisition, the chief operating officer owned 20,000 shares in the company, valued at approximately $185,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.71% of the company’s stock.

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.