Campbell & CO Investment Adviser LLC Makes New $389,000 Investment in Heritage Commerce Corp $HTBK

Campbell & CO Investment Adviser LLC purchased a new stake in Heritage Commerce Corp (NASDAQ:HTBK) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 39,160 shares of the financial services provider’s stock, valued at approximately $389,000. Campbell & CO Investment Adviser LLC owned approximately 0.06% of Heritage Commerce at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in HTBK. PNC Financial Services Group Inc. raised its holdings 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 acquiring an additional 1,680 shares in the last quarter. US Bancorp DE increased its position in shares of Heritage Commerce by 66.7% in the 1st 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 last quarter. Martingale Asset Management L P acquired a new stake in shares of Heritage Commerce in the 1st quarter valued at $103,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Heritage Commerce during the 2nd quarter worth $107,000. Finally, Quantbot Technologies LP grew its stake in shares of Heritage Commerce by 29.6% during the first quarter. Quantbot Technologies LP now owns 13,120 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 2,997 shares in the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.

Heritage Commerce Stock Performance

Shares of HTBK opened at $10.58 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The firm has a market cap of $648.38 million, a PE ratio of 15.11 and a beta of 0.89. The company’s 50 day simple moving average is $10.16 and its 200-day simple moving average is $9.87. Heritage Commerce Corp has a 12-month low of $8.09 and a 12-month high of $11.27.

Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.24 EPS for the quarter. Heritage Commerce had a net margin of 16.31% and a return on equity of 7.20%. The firm had revenue of $50.01 million during the quarter. As a group, equities analysts predict that Heritage Commerce Corp will post 0.8 EPS for the current year.

Heritage Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders 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 annualized dividend and a dividend yield of 4.9%. Heritage Commerce’s dividend payout ratio is 74.29%.

Wall Street Analysts Forecast Growth

HTBK has been the topic of a number of analyst reports. Stephens raised their price target on Heritage Commerce from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Piper Sandler raised their target price on Heritage Commerce from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Heritage Commerce in a report on Thursday. DA Davidson increased their price target on shares of Heritage Commerce from $12.00 to $12.50 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Finally, Wall Street Zen upgraded shares of Heritage Commerce from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $11.50.

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.