Heritage Commerce Corp (NASDAQ:HTBK) Shares Sold by Boston Partners

Boston Partners lessened its holdings in Heritage Commerce Corp (NASDAQ:HTBK) by 2.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,841,378 shares of the financial services provider’s stock after selling 52,469 shares during the period. Boston Partners’ holdings in Heritage Commerce were worth $15,659,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HTBK. Allspring Global Investments Holdings LLC grew its stake in Heritage Commerce by 185.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,856 shares of the financial services provider’s stock worth $42,000 after buying an additional 3,155 shares during the last quarter. Lindbrook Capital LLC increased its stake in Heritage Commerce by 47.7% in the 4th quarter. Lindbrook Capital LLC now owns 4,780 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,543 shares in the last quarter. GAMMA Investing LLC purchased a new position in Heritage Commerce during the fourth quarter worth $49,000. ProShare Advisors LLC purchased a new stake in shares of Heritage Commerce in the first quarter valued at $91,000. Finally, Norden Group LLC acquired a new position in Heritage Commerce in the first quarter valued at $111,000. Institutional investors and hedge funds own 75.55% of the company’s stock.

Heritage Commerce Stock Performance

Shares of NASDAQ:HTBK traded down $0.26 during midday trading on Friday, hitting $9.85. The company’s stock had a trading volume of 1,454,226 shares, compared to its average volume of 493,911. The stock has a market capitalization of $603.41 million, a price-to-earnings ratio of 10.71 and a beta of 0.94. The stock’s 50 day simple moving average is $8.80 and its 200 day simple moving average is $8.55. Heritage Commerce Corp has a fifty-two week low of $7.66 and a fifty-two week high of $10.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75.

Heritage Commerce (NASDAQ:HTBK) last posted its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). The company had revenue of $61.35 million during the quarter, compared to the consensus estimate of $43.35 million. Heritage Commerce had a return on equity of 7.24% and a net margin of 19.82%. As a group, research analysts anticipate that Heritage Commerce Corp will post 0.68 earnings per share for the current year.

Heritage Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date is Thursday, August 8th. Heritage Commerce’s dividend payout ratio (DPR) is presently 56.52%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HTBK. StockNews.com downgraded Heritage Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods increased their price target on Heritage Commerce from $10.50 to $11.50 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Piper Sandler increased their price target on Heritage Commerce from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.13.

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. 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.