Creative Planning Has $1.72 Million Stock Holdings in Heritage Commerce Corp $HTBK

Creative Planning raised its stake in Heritage Commerce Corp (NASDAQ:HTBK) by 38.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,005 shares of the financial services provider’s stock after buying an additional 48,130 shares during the period. Creative Planning owned 0.28% of Heritage Commerce worth $1,718,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allianz Asset Management GmbH increased its holdings in shares of Heritage Commerce by 12.3% during the first quarter. Allianz Asset Management GmbH now owns 34,700 shares of the financial services provider’s stock worth $330,000 after buying an additional 3,800 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Heritage Commerce by 266.6% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 38,598 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 28,069 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Heritage Commerce in the 1st quarter worth about $301,000. 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 last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Heritage Commerce by 143.5% during 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 in the last quarter. Institutional investors own 75.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HTBK. Wall Street Zen raised Heritage Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. 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, October 27th. DA Davidson raised 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. Stephens boosted their price objective on shares of Heritage Commerce from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Heritage Commerce in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Heritage Commerce currently has a consensus rating of “Buy” and an average target price of $11.50.

Heritage Commerce Stock Down 0.6%

Shares of NASDAQ HTBK opened at $11.00 on Thursday. The company’s 50 day moving average price is $10.23 and its 200-day moving average price is $9.95. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 0.77. Heritage Commerce Corp has a 52-week low of $8.09 and a 52-week high of $11.17. The company has a market capitalization of $674.12 million, a P/E ratio of 15.71 and a beta of 0.89.

Heritage Commerce (NASDAQ:HTBK) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $0.24 earnings per share for the quarter. The business had revenue of $50.01 million during the quarter. Heritage Commerce had a net margin of 16.31% and a return on equity of 7.20%. Equities analysts forecast that Heritage Commerce Corp will post 0.8 earnings per share for the current year.

Heritage Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 6th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Thursday, November 6th. Heritage Commerce’s payout ratio is currently 74.29%.

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.