Emerald Mutual Fund Advisers Trust increased its stake in shares of Heritage Commerce Corp. (NASDAQ:HTBK) by 52.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 211,862 shares of the financial services provider’s stock after purchasing an additional 73,192 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.49% of Heritage Commerce worth $3,161,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of HTBK. BlackRock Inc. lifted its holdings in shares of Heritage Commerce by 12.4% during the second quarter. BlackRock Inc. now owns 3,375,198 shares of the financial services provider’s stock worth $57,344,000 after purchasing an additional 372,215 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Heritage Commerce during the third quarter worth $5,121,000. Renaissance Technologies LLC lifted its holdings in shares of Heritage Commerce by 36.0% during the second quarter. Renaissance Technologies LLC now owns 788,900 shares of the financial services provider’s stock worth $13,403,000 after purchasing an additional 208,700 shares during the period. Boston Advisors LLC acquired a new stake in shares of Heritage Commerce during the second quarter worth $3,473,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Heritage Commerce by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,043,153 shares of the financial services provider’s stock worth $34,713,000 after purchasing an additional 170,632 shares during the period. 72.64% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the company. Brean Capital reaffirmed a “buy” rating on shares of Heritage Commerce in a report on Monday, October 29th. BidaskClub raised Heritage Commerce from a “sell” rating to a “hold” rating in a report on Friday, October 12th. Finally, ValuEngine downgraded Heritage Commerce from a “buy” rating to a “hold” rating in a report on Monday, July 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.50.
Heritage Commerce (NASDAQ:HTBK) last released its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The firm had revenue of $34.66 million during the quarter, compared to analysts’ expectations of $34.56 million. Heritage Commerce had a return on equity of 13.05% and a net margin of 17.74%. As a group, sell-side analysts anticipate that Heritage Commerce Corp. will post 0.98 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Tuesday, November 6th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Monday, November 5th. Heritage Commerce’s payout ratio is 55.00%.
In other Heritage Commerce news, Director Jason Philip Dinapoli acquired 10,000 shares of the business’s stock in a transaction on Tuesday, October 30th. The stock was purchased at an average price of $14.69 per share, for a total transaction of $146,900.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $293,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.40% of the company’s stock.
Heritage Commerce Company 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. It offers a range of deposit products for business banking and retail markets, including interest and non-interest bearing demand, savings accounts, certificate of deposit, money market accounts, and time deposits.
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