Voya Investment Management LLC Purchases 45,350 Shares of Heritage Commerce Corp $HTBK

Voya Investment Management LLC grew its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 231.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,976 shares of the financial services provider’s stock after acquiring an additional 45,350 shares during the quarter. Voya Investment Management LLC owned 0.11% of Heritage Commerce worth $645,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Cubist Systematic Strategies LLC boosted its holdings in Heritage Commerce by 217.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 200,428 shares of the financial services provider’s stock valued at $1,908,000 after purchasing an additional 137,274 shares during the period. Bridgeway Capital Management LLC raised its position in shares of Heritage Commerce by 4.6% in the first quarter. Bridgeway Capital Management LLC now owns 304,330 shares of the financial services provider’s stock valued at $2,897,000 after buying an additional 13,519 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Heritage Commerce in the first quarter valued at approximately $504,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Heritage Commerce by 4.4% during the first 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 in the last quarter. Finally, Empowered Funds LLC increased its stake in Heritage Commerce by 8.5% during the 1st quarter. Empowered Funds LLC now owns 171,866 shares of the financial services provider’s stock worth $1,636,000 after acquiring an additional 13,519 shares during the period. 75.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HTBK has been the subject of a number of recent analyst reports. Stephens upped 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. Wall Street Zen cut shares of Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Zacks Research raised shares of Heritage Commerce from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Heritage Commerce in a report on Monday. Finally, DA Davidson reiterated a “neutral” rating and set a $14.50 price target (up previously from $12.50) on shares of Heritage Commerce in a research report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

Heritage Commerce Stock Down 0.9%

Shares of NASDAQ HTBK opened at $12.01 on Friday. The stock has a 50-day moving average price of $11.27 and a two-hundred day moving average price of $10.40. The company has a market cap of $735.97 million, a price-to-earnings ratio of 17.16 and a beta of 0.80. Heritage Commerce Corp has a 12 month low of $8.09 and a 12 month high of $12.89. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06.

Heritage Commerce (NASDAQ:HTBK) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.24 EPS 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 7.18%. As a group, analysts forecast that Heritage Commerce Corp will post 0.8 earnings per share for the current fiscal year.

Heritage Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 6th were given a $0.13 dividend. The ex-dividend date was Thursday, November 6th. This represents a $0.52 annualized dividend and a yield of 4.3%. Heritage Commerce’s dividend payout ratio (DPR) is currently 74.29%.

Heritage Commerce Profile

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.