Heritage Commerce Corp $HTBK Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Heritage Commerce Corp (NASDAQ:HTBK) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,565,168 shares of the financial services provider’s stock after purchasing an additional 87,229 shares during the quarter. Geode Capital Management LLC owned approximately 2.54% of Heritage Commerce worth $15,544,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HTBK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 worth $337,000 after buying an additional 1,482 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in Heritage Commerce by 1.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 91,792 shares of the financial services provider’s stock valued at $911,000 after acquiring an additional 1,590 shares in the last quarter. PNC Financial Services Group Inc. raised 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 acquiring an additional 1,680 shares during the last quarter. US Bancorp DE raised its position in Heritage Commerce by 66.7% during the first quarter. US Bancorp DE now owns 5,789 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 2,316 shares during the last quarter. Finally, AlTi Global Inc. lifted its holdings 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 purchasing an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

Heritage Commerce Stock Performance

Heritage Commerce stock opened at $11.13 on Tuesday. The stock has a fifty day moving average price of $10.27 and a 200 day moving average price of $9.98. Heritage Commerce Corp has a 52 week low of $8.09 and a 52 week high of $11.17. The firm has a market capitalization of $682.09 million, a P/E ratio of 15.90 and a beta of 0.89. 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 posted its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.24 EPS for the quarter. Heritage Commerce had a return on equity of 7.20% and a net margin of 16.31%.The company had revenue of $50.01 million during the quarter. Equities research analysts anticipate that Heritage Commerce Corp will post 0.8 earnings per share for the current year.

Heritage Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 6th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $0.52 annualized dividend and a yield of 4.7%. Heritage Commerce’s dividend payout ratio is 74.29%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. DA Davidson raised their price objective on shares of Heritage Commerce from $12.00 to $12.50 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Wall Street Zen upgraded Heritage Commerce from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Stephens boosted their price target on Heritage Commerce from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Zacks Research upgraded Heritage Commerce from a “strong sell” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Heritage Commerce in a research note on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average 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.