AlphaQuest LLC Sells 23,592 Shares of Heritage Commerce Corp $HTBK

AlphaQuest LLC lowered its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 36.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 41,652 shares of the financial services provider’s stock after selling 23,592 shares during the period. AlphaQuest LLC owned approximately 0.07% of Heritage Commerce worth $414,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in Heritage Commerce by 143.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,851 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,680 shares during the period. US Bancorp DE lifted its stake in Heritage Commerce by 66.7% during the 1st quarter. US Bancorp DE now owns 5,789 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 2,316 shares during the period. Martingale Asset Management L P bought a new position in Heritage Commerce during the 1st quarter valued at about $103,000. Quantbot Technologies LP lifted its stake in Heritage Commerce by 29.6% during the 1st quarter. Quantbot Technologies LP now owns 13,120 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 2,997 shares during the period. Finally, Princeton Capital Management LLC lifted its stake in Heritage Commerce by 17.6% during the 1st quarter. Princeton Capital Management LLC now owns 20,041 shares of the financial services provider’s stock valued at $191,000 after acquiring an additional 3,000 shares during the period. Institutional investors own 75.55% of the company’s stock.

Insider Buying and Selling

In other news, COO Thomas A. Sa bought 20,000 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were bought at an average price of $9.25 per share, for a total transaction of $185,000.00. Following the purchase, the chief operating officer owned 20,000 shares in the company, valued at approximately $185,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.71% of the company’s stock.

Analyst Upgrades and Downgrades

HTBK has been the subject of several research reports. Piper Sandler upped their price target on shares of Heritage Commerce from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Monday. Wall Street Zen raised shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Stephens upped their price target on shares of Heritage Commerce from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Heritage Commerce in a research report on Wednesday, October 8th. Finally, Zacks Research lowered shares of Heritage Commerce from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Heritage Commerce presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.50.

Heritage Commerce Price Performance

NASDAQ HTBK opened at $10.44 on Thursday. Heritage Commerce Corp has a 12 month low of $8.09 and a 12 month high of $11.27. The stock has a market cap of $641.54 million, a price-to-earnings ratio of 14.91 and a beta of 0.85. The company’s 50 day moving average is $10.07 and its two-hundred day moving average is $9.72. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK) last released its earnings results on Thursday, October 23rd. The financial services provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Heritage Commerce had a net margin of 16.31% and a return on equity of 7.20%. The company had revenue of $50.01 million for the quarter, compared to analysts’ expectations of $48.90 million. As a group, research analysts anticipate that Heritage Commerce Corp will post 0.8 earnings per share for the current year.

Heritage Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th will be paid a dividend of $0.13 per share. The ex-dividend date is Thursday, November 6th. This represents a $0.52 dividend on an annualized basis and a yield of 5.0%. Heritage Commerce’s dividend payout ratio (DPR) is presently 74.29%.

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.