Boston Partners Grows Stock Position in Heritage Commerce Corp $HTBK

Boston Partners boosted its stake in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,102,707 shares of the financial services provider’s stock after acquiring an additional 22,264 shares during the quarter. Boston Partners owned 1.79% of Heritage Commerce worth $10,818,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Heritage Commerce by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,402 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 1,482 shares during the period. SummerHaven Investment Management LLC boosted its position in Heritage Commerce by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 91,792 shares of the financial services provider’s stock worth $911,000 after purchasing an additional 1,590 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in 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 worth $27,000 after purchasing an additional 1,680 shares in the last quarter. US Bancorp DE grew its holdings 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. Finally, AlTi Global Inc. increased its position in shares of Heritage Commerce by 0.4% in the first quarter. AlTi Global Inc. now owns 656,575 shares of the financial services provider’s stock valued at $6,251,000 after buying an additional 2,400 shares in the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.

Heritage Commerce Stock Down 0.9%

Shares of NASDAQ HTBK opened at $10.90 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’s 50 day moving average is $10.25 and its two-hundred day moving average is $9.96. Heritage Commerce Corp has a 52-week low of $8.09 and a 52-week high of $11.17. The firm has a market cap of $668.00 million, a price-to-earnings ratio of 15.57 and a beta of 0.89.

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

Heritage Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.8%. Heritage Commerce’s dividend payout ratio is 74.29%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Heritage Commerce in a research report on Tuesday. Stephens boosted their price objective on Heritage Commerce from $11.00 to $12.00 and gave the stock 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 company an “overweight” rating in a research report on Monday, October 27th. DA Davidson lifted their price target on Heritage Commerce from $12.00 to $12.50 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Finally, Zacks Research upgraded Heritage Commerce from a “strong sell” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $11.50.

About Heritage Commerce

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.