CAPROCK Group Inc. bought a new stake in Heritage Commerce Corp (NASDAQ:HTBK) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 14,360 shares of the financial services provider’s stock, valued at approximately $198,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of HTBK. Two Sigma Securities LLC purchased a new position in shares of Heritage Commerce Corp during the first quarter valued at approximately $150,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Heritage Commerce Corp during the first quarter valued at approximately $196,000. Stevens Capital Management LP boosted its position in shares of Heritage Commerce Corp by 19.8% in the first quarter. Stevens Capital Management LP now owns 13,974 shares of the financial services provider’s stock valued at $197,000 after buying an additional 2,308 shares during the period. Oxford Asset Management purchased a new position in shares of Heritage Commerce Corp during the first quarter valued at approximately $212,000. Finally, American International Group Inc. boosted its position in shares of Heritage Commerce Corp by 6.9% in the first quarter. American International Group Inc. now owns 16,039 shares of the financial services provider’s stock valued at $226,000 after buying an additional 1,038 shares during the period. 67.80% of the stock is owned by hedge funds and other institutional investors.
Shares of Heritage Commerce Corp (NASDAQ:HTBK) traded down 0.60% on Friday, hitting $13.29. The company’s stock had a trading volume of 88,813 shares. The stock’s 50-day moving average price is $13.81 and its 200-day moving average price is $13.88. The firm has a market cap of $506.75 million, a price-to-earnings ratio of 18.23 and a beta of 0.52. Heritage Commerce Corp has a 52 week low of $10.23 and a 52 week high of $14.87.
Heritage Commerce Corp (NASDAQ:HTBK) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $27.23 million during the quarter, compared to the consensus estimate of $27.90 million. Heritage Commerce Corp had a return on equity of 10.61% and a net margin of 25.75%. Equities analysts expect that Heritage Commerce Corp will post $0.78 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.01%. Heritage Commerce Corp’s payout ratio is 54.79%.
Several research analysts recently commented on the company. Zacks Investment Research raised Heritage Commerce Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Brean Capital reaffirmed a “buy” rating on shares of Heritage Commerce Corp in a research report on Thursday, August 3rd. BidaskClub cut Heritage Commerce Corp from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, ValuEngine raised Heritage Commerce Corp from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $15.50.
In related news, Director J Philip Dinapoli bought 5,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was purchased at an average cost of $13.53 per share, for a total transaction of $67,650.00. Following the transaction, the director now owns 163,376 shares in the company, valued at approximately $2,210,477.28. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.69% of the company’s stock.
About Heritage Commerce Corp
Heritage Commerce Corp is a bank holding company. The Company, through its subsidiary Heritage Bank of Commerce (the Bank), provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees.
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